Aspect Partners LLC lessened its stake in shares of C3.ai, Inc. (NYSE:AI - Free Report) by 70.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,563 shares of the company's stock after selling 15,374 shares during the quarter. Aspect Partners LLC's holdings in C3.ai were worth $226,000 at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. Concurrent Investment Advisors LLC bought a new stake in shares of C3.ai during the fourth quarter worth $439,000. Handelsbanken Fonder AB acquired a new position in C3.ai in the fourth quarter valued at about $923,000. Ieq Capital LLC increased its stake in C3.ai by 4.1% in the fourth quarter. Ieq Capital LLC now owns 25,064 shares of the company's stock valued at $863,000 after purchasing an additional 983 shares in the last quarter. Global Retirement Partners LLC boosted its position in shares of C3.ai by 1,004.0% during the fourth quarter. Global Retirement Partners LLC now owns 1,115 shares of the company's stock worth $38,000 after purchasing an additional 1,014 shares in the last quarter. Finally, New York State Common Retirement Fund grew its holdings in shares of C3.ai by 9.2% in the 4th quarter. New York State Common Retirement Fund now owns 30,896 shares of the company's stock valued at $1,064,000 after buying an additional 2,600 shares during the period. Institutional investors and hedge funds own 38.96% of the company's stock.
Insider Transactions at C3.ai
In other news, CFO Hitesh Lath sold 3,949 shares of the stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $42.36, for a total value of $167,279.64. Following the transaction, the chief financial officer now directly owns 851 shares of the company's stock, valued at $36,048.36. This represents a 82.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Merel Witteveen sold 11,132 shares of C3.ai stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $34.95, for a total transaction of $389,063.40. Following the sale, the vice president now directly owns 4,142 shares of the company's stock, valued at $144,762.90. The trade was a 72.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,642,974 shares of company stock worth $59,727,720 in the last ninety days. Insiders own 33.54% of the company's stock.
Analysts Set New Price Targets
A number of research firms have recently commented on AI. Northland Securities raised their price target on C3.ai from $35.00 to $45.00 and gave the stock an "outperform" rating in a research report on Tuesday, December 10th. StockNews.com upgraded shares of C3.ai to a "sell" rating in a report on Tuesday, November 26th. JMP Securities upped their target price on shares of C3.ai from $40.00 to $55.00 and gave the stock a "market outperform" rating in a research note on Tuesday, December 10th. Canaccord Genuity Group increased their target price on C3.ai from $23.00 to $40.00 and gave the stock a "hold" rating in a report on Wednesday, December 11th. Finally, Needham & Company LLC restated a "hold" rating on shares of C3.ai in a report on Tuesday, December 10th. Five investment analysts have rated the stock with a sell rating, five have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, C3.ai has an average rating of "Hold" and an average target price of $35.00.
Get Our Latest Stock Analysis on C3.ai
C3.ai Price Performance
AI stock traded down $1.40 during mid-day trading on Friday, reaching $28.50. The company had a trading volume of 4,870,924 shares, compared to its average volume of 4,728,545. The company has a market capitalization of $3.68 billion, a price-to-earnings ratio of -12.89 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 stock has a 50 day simple moving average of $34.02 and a two-hundred day simple moving average of $29.47.
About C3.ai
(
Free Report)
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.
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