State of New Jersey Common Pension Fund D Buys 4,854 Shares of C3.ai, Inc. (NYSE:AI)

State of New Jersey Common Pension Fund D increased its stake in shares of C3.ai, Inc. (NYSE:AI) by 6.1% during the 4th quarter, Holdings Channel.com reports. The firm owned 84,345 shares of the company’s stock after acquiring an additional 4,854 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in C3.ai were worth $2,422,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Pittenger & Anderson Inc. bought a new position in C3.ai in the fourth quarter valued at about $43,000. Atria Wealth Solutions Inc. acquired a new stake in shares of C3.ai during the 4th quarter worth approximately $202,000. New York State Common Retirement Fund raised its stake in shares of C3.ai by 32.6% during the fourth quarter. New York State Common Retirement Fund now owns 33,135 shares of the company’s stock worth $951,000 after buying an additional 8,141 shares during the last quarter. Capital Investment Advisory Services LLC acquired a new position in C3.ai in the fourth quarter valued at approximately $297,000. Finally, Daiwa Securities Group Inc. boosted its stake in C3.ai by 2.9% in the fourth 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 last quarter. Institutional investors and hedge funds own 38.96% of the company’s stock.

C3.ai Price Performance

Shares of C3.ai stock opened at $22.69 on Thursday. The company has a market capitalization of $2.77 billion, a P/E ratio of -9.74 and a beta of 1.70. The business has a 50-day moving average of $26.68 and a two-hundred day moving average of $27.24. C3.ai, Inc. has a 1 year low of $16.79 and a 1 year high of $48.87.

C3.ai (NYSE:AI) last issued its quarterly earnings data on Wednesday, February 28th. The company reported ($0.60) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.73) by $0.13. The business 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, equities analysts anticipate that C3.ai, Inc. will post -2.48 EPS for the current fiscal year.

Analysts Set New Price Targets

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