Commonwealth Equity Services LLC Purchases 8,757 Shares of C3.ai, Inc. (NYSE:AI)

Commonwealth Equity Services LLC raised its position in C3.ai, Inc. (NYSE:AI – Get Rating) by 49.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,555 shares of the company’s stock after buying an additional 8,757 shares during the quarter. Commonwealth Equity Services LLC’s holdings in C3.ai were worth $829,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of AI. Morgan Stanley raised its stake in shares of C3.ai by 72.1% in the third quarter. Morgan Stanley now owns 1,537,845 shares of the company’s stock valued at $71,264,000 after buying an additional 644,462 shares during the period. Bank of New York Mellon Corp raised its stake in shares of C3.ai by 732.6% in the third quarter. Bank of New York Mellon Corp now owns 622,513 shares of the company’s stock valued at $28,848,000 after buying an additional 547,748 shares during the period. Renaissance Technologies LLC raised its stake in shares of C3.ai by 942.0% during the 3rd quarter. Renaissance Technologies LLC now owns 589,800 shares of the company’s stock valued at $27,331,000 after purchasing an additional 533,200 shares during the period. Geode Capital Management LLC raised its stake in shares of C3.ai by 253.9% during the 3rd quarter. Geode Capital Management LLC now owns 691,432 shares of the company’s stock valued at $32,040,000 after purchasing an additional 496,030 shares during the period. Finally, Two Sigma Advisers LP bought a new stake in shares of C3.ai during the 3rd quarter valued at $14,175,000. Hedge funds and other institutional investors own 48.10% of the company’s stock.

AI has been the topic of a number of analyst reports. Wedbush decreased their price objective on C3.ai from $45.00 to $30.00 and set an “outperform” rating on the stock in a research note on Thursday, March 3rd. Morgan Stanley decreased their price objective on C3.ai from $31.00 to $20.00 and set an “underweight” rating on the stock in a research note on Friday, March 25th. JPMorgan Chase & Co. upgraded C3.ai from an “underweight” rating to a “neutral” rating and decreased their price objective for the company from $43.00 to $27.00 in a research note on Wednesday, March 2nd. Needham & Company LLC decreased their price objective on C3.ai from $103.00 to $26.00 and set a “buy” rating on the stock in a research note on Thursday, March 3rd. Finally, StockNews.com upgraded C3.ai to a “sell” rating in a research note on Friday. Four research analysts have rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $28.90.

In related news, CFO Juho Parkkinen sold 4,253 shares of the stock in a transaction dated Monday, March 21st. The stock was sold at an average price of $21.58, for a total transaction of $91,779.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 8,731 shares of company stock valued at $182,854 over the last quarter. Company insiders own 52.65% of the company’s stock.

AI opened at $17.85 on Friday. The stock has a 50-day moving average price of $21.25 and a 200-day moving average price of $30.72. C3.ai, Inc. has a 12-month low of $16.58 and a 12-month high of $76.85. The stock has a market capitalization of $1.90 billion, a P/E ratio of -11.52 and a beta of 0.30.

C3.ai (NYSE:AI – Get Rating) last posted its quarterly earnings data on Wednesday, March 2nd. The company reported ($0.38) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.63) by $0.25. The firm had revenue of $69.77 million during the quarter, compared to analysts’ expectations of $67.29 million. During the same quarter in the previous year, the company posted ($0.23) earnings per share. Research analysts expect that C3.ai, Inc. will post -1.83 EPS for the current fiscal year.

About C3.ai (Get Rating)

C3.ai, Inc operates as an enterprise artificial intelligence (AI) software company. The company provides software-as-a-service applications for enterprises. Its software solutions include C3 AI Suite, a platform-as-a-service application development and runtime environment that enables customers to design, develop, and deploy enterprise AI applications; and C3 AI Applications, which include industry-specific and application-specific turnkey AI solutions.

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