AlphaCentric Advisors LLC Invests $344,000 in C3.ai, Inc. (NYSE:AI)

AlphaCentric Advisors LLC purchased a new stake in shares of C3.ai, Inc. (NYSE:AI - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 10,000 shares of the company's stock, valued at approximately $344,000.

Several other institutional investors have also recently made changes to their positions in the business. Charles Schwab Investment Management Inc. raised its holdings in C3.ai by 12.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 844,389 shares of the company's stock worth $20,460,000 after purchasing an additional 92,280 shares during the period. PDT Partners LLC purchased a new position in shares of C3.ai during the 3rd quarter valued at about $1,624,000. Janney Montgomery Scott LLC lifted its position in shares of C3.ai by 70.9% during the 4th quarter. Janney Montgomery Scott LLC now owns 55,339 shares of the company's stock valued at $1,905,000 after buying an additional 22,949 shares in the last quarter. Strategic Financial Concepts LLC bought a new position in shares of C3.ai during the 4th quarter valued at approximately $2,015,000. Finally, Friedenthal Financial purchased a new stake in C3.ai in the 4th quarter worth approximately $757,000. Institutional investors own 38.96% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on AI. JPMorgan Chase & Co. lowered shares of C3.ai from a "neutral" rating to an "underweight" rating and set a $28.00 price target for the company. in a research report on Wednesday, December 11th. Northland Securities upped their target price on shares of C3.ai from $35.00 to $45.00 and gave the stock an "outperform" rating in a report on Tuesday, December 10th. DA Davidson raised C3.ai to a "hold" rating in a report on Wednesday, December 18th. Piper Sandler boosted their price objective on C3.ai from $24.00 to $42.00 and gave the company a "neutral" rating in a research report on Tuesday, December 10th. Finally, JMP Securities increased their target price on C3.ai from $40.00 to $55.00 and gave the stock a "market outperform" rating in a research report on Tuesday, December 10th. Five analysts have rated the stock with a sell rating, five have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $35.00.

C3.ai Stock Performance

Shares of AI traded down $0.83 during mid-day trading on Thursday, hitting $29.94. 7,565,947 shares of the stock were exchanged, compared to its average volume of 4,723,912. The company has a market cap of $3.86 billion, a PE ratio of -13.55 and a beta of 1.98. C3.ai, Inc. has a 52-week low of $18.85 and a 52-week high of $45.08. The firm has a 50-day moving average of $34.02 and a two-hundred day moving average of $29.47.

Insiders Place Their Bets

In related news, Director Richard C. Levin sold 12,000 shares of the firm's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $29.84, for a total value of $358,080.00. Following the completion of the sale, the director now directly owns 161,664 shares in the company, valued at $4,824,053.76. This trade represents a 6.91 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Thomas M. Siebel sold 409,831 shares of C3.ai stock in a transaction on Tuesday, January 14th. The stock was sold at an average price of $30.97, for a total transaction of $12,692,466.07. Following the transaction, the chief executive officer now directly owns 1,756,390 shares of the company's stock, valued at $54,395,398.30. The trade was a 18.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,642,974 shares of company stock valued at $59,727,720 in the last three months. Corporate insiders own 33.54% of the company's stock.

About C3.ai

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.