Pittenger & Anderson Inc. Buys Shares of 1,500 C3.ai, Inc. (NYSE:AI)

Pittenger & Anderson Inc. acquired a new position in C3.ai, Inc. (NYSE:AI) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 1,500 shares of the company’s stock, valued at approximately $43,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale bought a new stake in shares of C3.ai during the 3rd quarter valued at $25,000. B. Riley Asset Management LLC bought a new stake in shares of C3.ai during the third quarter valued at about $26,000. Orion Capital Management LLC purchased a new stake in shares of C3.ai in the third quarter worth about $26,000. Impact Partnership Wealth LLC bought a new position in shares of C3.ai in the third quarter valued at approximately $29,000. Finally, GPS Wealth Strategies Group LLC grew its stake in C3.ai by 87.9% during the fourth quarter. GPS Wealth Strategies Group LLC now owns 1,351 shares of the company’s stock valued at $39,000 after acquiring an additional 632 shares in the last quarter. 38.96% of the stock is currently owned by institutional investors.

C3.ai Trading Up 2.2 %

Shares of AI stock traded up $0.49 during trading hours on Friday, hitting $22.65. 2,425,680 shares of the company’s stock were exchanged, compared to its average volume of 7,171,740. C3.ai, Inc. has a 12-month low of $16.79 and a 12-month high of $48.87. The business’s 50 day simple moving average is $27.08 and its 200-day simple moving average is $27.31.

C3.ai (NYSE:AI) last posted its quarterly earnings results on Wednesday, February 28th. The company reported ($0.60) earnings per share for the quarter, topping the consensus estimate of ($0.73) by $0.13. C3.ai had a negative net margin of 95.21% and a negative return on equity of 29.60%. The business had revenue of $78.40 million during the quarter, compared to the consensus estimate of $75.92 million. As a group, analysts predict that C3.ai, Inc. will post -2.48 earnings per share for the current fiscal year.

Analysts Set New Price Targets

AI has been the subject of several analyst reports. Bank of America raised their price target on shares of C3.ai from $18.00 to $20.00 and gave the company an “underperform” rating in a report on Thursday, February 29th. Wedbush reduced their target price on C3.ai from $42.00 to $35.00 and set an “overweight” rating for the company in a research report on Thursday, February 29th. Piper Sandler raised their price target on C3.ai from $27.00 to $33.00 and gave the company a “neutral” rating in a report on Monday, March 4th. Finally, Canaccord Genuity Group boosted their price objective on C3.ai from $27.00 to $31.00 and gave the stock a “hold” rating in a report on Thursday, February 29th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $31.50.

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.