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

Zurcher Kantonalbank Zurich Cantonalbank lifted its position in C3.ai, Inc. (NYSE:AI) by 7.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,053 shares of the company’s stock after acquiring an additional 1,619 shares during the period. 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 (SEC).

Other institutional investors have also recently made changes to their positions in the company. Hobbs Group Advisors LLC acquired a new stake in shares of C3.ai in the second quarter worth approximately $29,000. Unique Wealth Strategies LLC acquired a new stake in shares of C3.ai in the second quarter worth approximately $28,000. Blue Trust Inc. boosted its stake in shares of C3.ai by 148.9% in the second quarter. Blue Trust Inc. now owns 1,028 shares of the company’s stock worth $28,000 after acquiring an additional 615 shares during the last quarter. JTC Employer Solutions Trustee Ltd acquired a new stake in shares of C3.ai in the third quarter worth approximately $25,000. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in shares of C3.ai by 311.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,050 shares of the company’s stock worth $30,000 after acquiring an additional 795 shares during the last quarter. 38.96% of the stock is owned by institutional investors and hedge funds.

C3.ai Stock Up 8.1 %

NYSE:AI opened at $40.52 on Friday. C3.ai, Inc. has a 52 week low of $18.85 and a 52 week high of $40.65. The company has a market capitalization of $5.15 billion, a P/E ratio of -17.77 and a beta of 2.00. The stock’s fifty day moving average is $28.74 and its two-hundred day moving average is $27.13.

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

Wall Street Analysts Forecast Growth

AI has been the topic of a number of analyst reports. Canaccord Genuity Group reduced their price objective on C3.ai from $30.00 to $23.00 and set a “hold” rating on the stock in a research report on Thursday, September 5th. Oppenheimer reiterated an “outperform” rating and set a $40.00 price objective on shares of C3.ai in a research report on Thursday, September 5th. Wedbush reduced their price objective on C3.ai from $40.00 to $30.00 and set an “outperform” rating on the stock in a research report on Thursday, September 5th. JMP Securities reiterated a “market outperform” rating and set a $40.00 price objective on shares of C3.ai in a research report on Thursday, September 5th. Finally, Piper Sandler reduced their price objective on C3.ai from $29.00 to $24.00 and set a “neutral” rating on the stock in a research report on Thursday, September 5th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $29.20.

C3.ai Company Profile

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.