SG Americas Securities LLC Increases Holdings in C3.ai, Inc.

SG Americas Securities LLC has significantly increased its investment in C3.ai, Inc. (NYSE:AI) by 238.8% during the third quarter, as detailed in the latest filing with the Securities and Exchange Commission (SEC). After acquiring an additional 26,063 shares during this period, the firm now holds a total of 36,976 shares in C3.ai. This brings the value of SG Americas Securities LLC's holdings to approximately $896,000 at the close of the most recent reporting period.

Changes in Other Major Investments

In addition to SG Americas Securities LLC, several other institutional investors have also made adjustments to their holdings in C3.ai. For instance, American Century Companies Inc. increased its stake by 2.1% during the second quarter, acquiring 432 additional shares, bringing its total to 21,447 shares valued at $621,000. Similarly, Principal Financial Group Inc. expanded its investment by 4.3%, with a total of 11,165 shares valued at $323,000 post an increase of 462 shares.

Forum Financial Management LP raised its holdings by 4.4% in the second quarter, now owning 12,893 shares worth $373,000 after purchasing 539 more shares. Rhumbline Advisers also increased its stake by 0.5%, holding 125,344 shares valued at $3,630,000 after acquiring an additional 572 shares. Lastly, EP Wealth Advisors LLC grew its investments in the first quarter by 6.2%, resulting in ownership of 10,239 shares with a value of $277,000 after buying 600 more shares. Presently, institutional investors and hedge funds hold about 38.96% of the stock.

Analyst Ratings and Price Targets

Recent reports from several brokerages have shed light on the outlook for C3.ai. Needham & Company LLC reaffirmed a "hold" rating for the stock on September 5th. Meanwhile, DA Davidson revised their price target down from $30.00 to $20.00, maintaining a "neutral" stance on C3.ai. Other firms, including Piper Sandler Companies, Canaccord Genuity Group, and Oppenheimer, have also shared their updated price targets and ratings for C3.ai shares on the same date, with Oppenheimer assigning an "outperform" rating with a target price of $40.00. Overall, three analysts rated it as a sell, five as hold, four as buy, and one as a strong buy, leading to a consensus rating of "Hold" with an average price target of $27.70.

C3.ai Performance and Market Presence

On the trading front, C3.ai saw a 3.9% increase, opening at $27.24 on Friday. The company now has a market capitalization of approximately $3.40 billion, a P/E ratio of -11.64, and a beta of 1.81. Over the past 12 months, C3.ai shares have fluctuated, hitting a low of $18.85 and a high of $38.30. Its 50-day moving average price is $23.77, while the 200-day moving average stands at $25.55.

C3.ai last released its quarterly earnings report on September 4th, where it announced an earnings per share (EPS) of ($0.05), which surpasses analysts' expectations of ($0.13) by $0.08. The company reported a revenue of $87.21 million, compared to the anticipated $86.94 million, showcasing a 20.5% increase year-over-year. However, it also marked a negative return on equity of 31.28% and a net margin of 85.47%. Analysts predict that C3.ai will post earnings of -$2.32 per share for the current fiscal year.

Company Overview

C3.ai, Inc. operates as an enterprise artificial intelligence software provider across North America, Europe, the Middle East, Africa, and the Asia Pacific. They offer a variety of products, including the C3 AI platform, allowing clients to design and deploy enterprise AI applications, C3 AI Ex Machina for data analysis, C3 AI CRM for customer relationship management, and the C3 Generative AI Product Suite to improve information retrieval.

investment, securities, C3.ai