Arcadia Investment Management Corp MI Makes New $48,000 Investment in C3.ai, Inc. (NYSE:AI)

Arcadia Investment Management Corp MI acquired a new stake in C3.ai, Inc. (NYSE:AI) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,000 shares of the company’s stock, valued at approximately $48,000.

Several other large investors also recently modified their holdings of AI. JTC Employer Solutions Trustee Ltd purchased a new position in C3.ai in the third quarter valued at about $25,000. Unique Wealth Strategies LLC purchased a new position in shares of C3.ai during the 2nd quarter valued at approximately $28,000. Blue Trust Inc. increased its stake in shares of C3.ai by 148.9% in the second quarter. Blue Trust Inc. now owns 1,028 shares of the company’s stock worth $28,000 after buying an additional 615 shares during the last quarter. Hobbs Group Advisors LLC acquired a new stake in C3.ai in the second quarter valued at $29,000. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in C3.ai by 311.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,050 shares of the company’s stock valued at $30,000 after acquiring an additional 795 shares during the last quarter. 38.96% of the stock is currently owned by institutional investors and hedge funds.

C3.ai Stock Performance

C3.ai stock opened at $25.03 on Friday. The firm has a market capitalization of $3.18 billion, a P/E ratio of -10.98 and a beta of 1.81. The company has a 50-day simple moving average of $24.12 and a 200-day simple moving average of $25.64. C3.ai, Inc. has a one year low of $18.85 and a one year high of $38.30.

C3.ai (NYSE:AI) last announced its quarterly earnings results on Wednesday, September 4th. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.13) by $0.08. The company had revenue of $87.21 million for the quarter, compared to analyst estimates of $86.94 million. C3.ai had a negative net margin of 85.47% and a negative return on equity of 31.28%. C3.ai’s revenue was up 20.5% compared to the same quarter last year. During the same quarter last year, the business earned ($0.56) earnings per share. As a group, sell-side analysts forecast that C3.ai, Inc. will post -2.31 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Bank of America cut their target price on shares of C3.ai from $24.00 to $20.00 and set an “underperform” rating on the stock in a research note on Thursday, September 5th. DA Davidson reduced their target price on C3.ai from $30.00 to $20.00 and set a “neutral” rating on the stock in a report on Thursday, September 5th. Morgan Stanley lowered their price target on C3.ai from $23.00 to $21.00 and set an “underweight” rating for the company in a report on Thursday, September 5th. Canaccord Genuity Group reduced their price objective on C3.ai from $30.00 to $23.00 and set a “hold” rating on the stock in a research note on Thursday, September 5th. Finally, Wedbush lowered their target price on shares of C3.ai from $40.00 to $30.00 and set an “outperform” rating for the company in a research note on Thursday, September 5th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $27.70.

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.