Friedenthal Financial Purchases New Position in C3.ai, Inc. (NYSE:AI)

Friedenthal Financial acquired a new stake in C3.ai, Inc. (NYSE:AI - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 21,999 shares of the company's stock, valued at approximately $757,000.

Other large investors have also bought and sold shares of the company. Principal Financial Group Inc. boosted its stake in shares of C3.ai by 4.3% in the 2nd quarter. Principal Financial Group Inc. now owns 11,165 shares of the company's stock valued at $323,000 after purchasing an additional 462 shares during the last quarter. Rhumbline Advisers boosted its position in C3.ai by 0.5% during the second quarter. Rhumbline Advisers now owns 125,344 shares of the company's stock valued at $3,630,000 after acquiring an additional 572 shares during the last quarter. Arizona State Retirement System grew its holdings in C3.ai by 9.9% during the 2nd quarter. Arizona State Retirement System now owns 29,869 shares of the company's stock worth $865,000 after acquiring an additional 2,686 shares during the period. American Century Companies Inc. grew its holdings in C3.ai by 2.1% during the 2nd quarter. American Century Companies Inc. now owns 21,447 shares of the company's stock worth $621,000 after acquiring an additional 432 shares during the period. Finally, Oppenheimer & Co. Inc. lifted its stake in shares of C3.ai by 3.8% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 59,913 shares of the company's stock valued at $1,735,000 after purchasing an additional 2,177 shares during the period. 38.96% of the stock is owned by institutional investors.

Insider Transactions at C3.ai

In related news, CFO Hitesh Lath sold 11,339 shares of the stock in a transaction on Monday, December 9th. The shares were sold at an average price of $42.00, for a total transaction of $476,238.00. Following the transaction, the chief financial officer now owns 851 shares of the company's stock, valued at approximately $35,742. This trade represents a 93.02 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Richard C. Levin sold 12,000 shares of the company's stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $34.80, for a total transaction of $417,600.00. Following the sale, the director now owns 161,664 shares of the company's stock, valued at approximately $5,625,907.20. The trade was a 6.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 668,721 shares of company stock valued at $28,425,151 in the last quarter. Insiders own 33.54% of the company's stock.

C3.ai Price Performance

NYSE:AI traded down $1.34 during trading hours on Monday, hitting $31.08. The stock had a trading volume of 4,605,243 shares, compared to its average volume of 4,657,093. The company has a 50 day simple moving average of $34.74 and a two-hundred day simple moving average of $28.70. The firm has a market capitalization of $4.01 billion, a price-to-earnings ratio of -14.06 and a beta of 2.00. C3.ai, Inc. has a one year low of $18.85 and a one year high of $45.08.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on AI shares. StockNews.com upgraded shares of C3.ai to a "sell" rating in a report on Tuesday, November 26th. Northland Securities increased their price target on C3.ai from $35.00 to $45.00 and gave the stock an "outperform" rating in a report on Tuesday, December 10th. JMP Securities boosted their price objective on C3.ai from $40.00 to $55.00 and gave the company a "market outperform" rating in a report on Tuesday, December 10th. Needham & Company LLC reaffirmed a "hold" rating on shares of C3.ai in a research report on Tuesday, December 10th. Finally, Canaccord Genuity Group boosted their price target on shares of C3.ai from $23.00 to $40.00 and gave the company a "hold" rating in a research note on Wednesday, December 11th. Five research analysts have rated the stock with a sell rating, five have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $35.00.

C3.ai 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.