C3.ai, Inc. (NYSE:AI) Shares Acquired by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank grew its position in C3.ai, Inc. (NYSE:AIFree Report) by 7.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,053 shares of the company’s stock after buying an additional 1,619 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in C3.ai were worth $583,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently bought and sold shares of AI. American Century Companies Inc. grew its position in shares of C3.ai by 2.1% during the second quarter. American Century Companies Inc. now owns 21,447 shares of the company’s stock worth $621,000 after buying an additional 432 shares in the last quarter. Victory Capital Management Inc. raised its holdings in C3.ai by 3.4% in the third quarter. Victory Capital Management Inc. now owns 14,078 shares of the company’s stock valued at $341,000 after acquiring an additional 457 shares in the last quarter. Principal Financial Group Inc. lifted its stake in C3.ai by 4.3% in the second quarter. Principal Financial Group Inc. now owns 11,165 shares of the company’s stock worth $323,000 after acquiring an additional 462 shares during the last quarter. Forum Financial Management LP grew its holdings in C3.ai by 4.4% during the 2nd quarter. Forum Financial Management LP now owns 12,893 shares of the company’s stock worth $373,000 after acquiring an additional 539 shares in the last quarter. Finally, Rhumbline Advisers increased its position in shares of C3.ai by 0.5% in the 2nd quarter. Rhumbline Advisers now owns 125,344 shares of the company’s stock valued at $3,630,000 after purchasing an additional 572 shares during the last quarter. Hedge funds and other institutional investors own 38.96% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on AI shares. StockNews.com upgraded shares of C3.ai to a “sell” rating in a research note on Tuesday, November 26th. Wedbush lowered their price objective on C3.ai from $40.00 to $30.00 and set an “outperform” rating for the company in a research report on Thursday, September 5th. Canaccord Genuity Group dropped their price objective on C3.ai from $30.00 to $23.00 and set a “hold” rating on the stock in a report on Thursday, September 5th. Piper Sandler Companies reiterated a “neutral” rating and issued a $24.00 price objective on shares of C3.ai in a report on Thursday, September 5th. Finally, Bank of America dropped their price objective on C3.ai from $24.00 to $20.00 and set an “underperform” rating on the stock in a report on Thursday, September 5th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, C3.ai presently has a consensus rating of “Hold” and a consensus price target of $29.20.

Read Our Latest Analysis on AI

C3.ai Stock Up 8.1 %

Shares of NYSE AI opened at $40.52 on Friday. The stock has a market cap of $5.15 billion, a PE ratio of -17.77 and a beta of 2.00. C3.ai, Inc. has a 52-week low of $18.85 and a 52-week high of $40.65. The business has a 50-day moving average price of $28.74 and a 200 day moving average price of $27.13.

C3.ai (NYSE:AIGet Free Report) last released its quarterly earnings results on Wednesday, September 4th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.08. The firm had revenue of $87.21 million for the quarter, compared to analyst estimates of $86.94 million. C3.ai had a negative return on equity of 31.28% and a negative net margin of 85.47%. The business’s revenue was up 20.5% on a year-over-year basis. During the same quarter last year, the company posted ($0.56) earnings per share. Sell-side analysts anticipate that C3.ai, Inc. will post -2.31 earnings per share for the current year.

C3.ai Company Profile

(Free Report)

C3.ai, Inc operates as an enterprise artificial intelligence (AI) software company in North America, Europe, the Middle East, Africa, the Asia Pacific, and internationally. The company provides C3 AI platform, an application development and runtime environment that enables customers to design, develop, and deploy enterprise AI applications; C3 AI Ex Machina for analysis-ready data; C3 AI CRM, an industry specific customer relationship management solution; and C3 Generative AI Product Suite that enables to locate, retrieve, and present information.

Further Reading

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Institutional Ownership by Quarter for C3.ai (NYSE:AI)

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