Empirical Financial Services LLC d.b.a. Empirical Wealth Management Acquires 2,148 Shares of C3.ai, Inc. (NYSE:AI)

Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its holdings in shares of C3.ai, Inc. (NYSE:AI) by 9.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,906 shares of the company’s stock after purchasing an additional 2,148 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in C3.ai were worth $686,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in AI. State Board of Administration of Florida Retirement System raised its position in shares of C3.ai by 3.7% in the 3rd quarter. State Board of Administration of Florida Retirement System now owns 17,274 shares of the company’s stock worth $441,000 after acquiring an additional 610 shares in the last quarter. GPS Wealth Strategies Group LLC boosted its holdings in shares of C3.ai by 87.9% during the 4th quarter. GPS Wealth Strategies Group LLC now owns 1,351 shares of the company’s stock valued at $39,000 after buying an additional 632 shares in the last quarter. EWG Elevate Inc. grew its position in shares of C3.ai by 8.3% in the 4th quarter. EWG Elevate Inc. now owns 8,876 shares of the company’s stock worth $255,000 after buying an additional 679 shares during the period. Perigon Wealth Management LLC increased its stake in shares of C3.ai by 0.4% in the 3rd quarter. Perigon Wealth Management LLC now owns 186,434 shares of the company’s stock worth $4,758,000 after acquiring an additional 749 shares in the last quarter. Finally, Daiwa Securities Group Inc. lifted its position in C3.ai by 2.9% during the 4th quarter. Daiwa Securities Group Inc. now owns 28,478 shares of the company’s stock valued at $818,000 after acquiring an additional 811 shares during the period. 38.96% of the stock is currently owned by institutional investors.

C3.ai Trading Down 1.3 %

NYSE AI opened at $24.44 on Thursday. C3.ai, Inc. has a 12 month low of $19.03 and a 12 month high of $48.87. The stock’s 50 day moving average is $26.28 and its 200 day moving average is $27.20. The stock has a market cap of $2.98 billion, a PE ratio of -10.49 and a beta of 1.74.

C3.ai (NYSE:AI) last issued its quarterly earnings data on Wednesday, February 28th. The company reported ($0.60) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.73) by $0.13. The firm had revenue of $78.40 million during the quarter, compared to analyst estimates of $75.92 million. C3.ai had a negative return on equity of 29.60% and a negative net margin of 95.21%. On average, analysts forecast that C3.ai, Inc. will post -2.48 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on AI shares. Piper Sandler increased their target price on C3.ai from $27.00 to $33.00 and gave the stock a “neutral” rating in a research note on Monday, March 4th. Wedbush decreased their target price on shares of C3.ai from $42.00 to $35.00 and set an “overweight” rating for the company in a report on Thursday, February 29th. Canaccord Genuity Group increased their price target on shares of C3.ai from $27.00 to $31.00 and gave the company a “hold” rating in a report on Thursday, February 29th. Finally, Bank of America upped their price objective on C3.ai from $18.00 to $20.00 and gave the company an “underperform” rating in a research report on Thursday, February 29th. Two analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average 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.