Perigon Wealth Management LLC Decreases Stock Holdings in C3.ai, Inc. (NYSE:AI)

Perigon Wealth Management LLC decreased its position in shares of C3.ai, Inc. (NYSE:AI - Free Report) by 10.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 187,336 shares of the company's stock after selling 21,100 shares during the quarter. Perigon Wealth Management LLC owned 0.15% of C3.ai worth $6,053,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Geode Capital Management LLC lifted its position in shares of C3.ai by 8.8% during the 3rd quarter. Geode Capital Management LLC now owns 2,216,925 shares of the company's stock worth $53,728,000 after buying an additional 178,870 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new position in shares of C3.ai in the second quarter worth about $3,465,000. Charles Schwab Investment Management Inc. boosted its stake in shares of C3.ai by 12.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 844,389 shares of the company's stock valued at $20,460,000 after purchasing an additional 92,280 shares in the last quarter. Hodges Capital Management Inc. bought a new stake in shares of C3.ai during the 3rd quarter valued at approximately $1,955,000. Finally, PDT Partners LLC bought a new position in C3.ai in the 3rd quarter valued at approximately $1,624,000. 38.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AI has been the topic of a number of research reports. KeyCorp lowered C3.ai from a "sector weight" rating to an "underweight" rating and set a $29.00 price objective on the stock. in a research report on Thursday, December 19th. StockNews.com upgraded shares of C3.ai to a "sell" rating in a research report on Tuesday, November 26th. Northland Securities upped their price target on shares of C3.ai from $35.00 to $45.00 and gave the company an "outperform" rating in a research report on Tuesday, December 10th. Needham & Company LLC reissued a "hold" rating on shares of C3.ai in a research note on Tuesday, December 10th. Finally, JMP Securities raised 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 issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $35.00.

Insider Buying and Selling at C3.ai

In other news, CEO Thomas M. Siebel sold 409,831 shares of the company's stock in a transaction that occurred 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. This represents a 18.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Hitesh Lath sold 11,339 shares of the firm's 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 completion of the transaction, the chief financial officer now directly owns 851 shares in the company, valued at $35,742. This trade represents a 93.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,078,552 shares of company stock valued at $41,117,617. Corporate insiders own 33.54% of the company's stock.

C3.ai Stock Down 2.4 %

AI traded down $0.76 during trading on Friday, hitting $31.29. The company's stock had a trading volume of 2,784,288 shares, compared to its average volume of 4,689,110. The firm has a market capitalization of $4.04 billion, a P/E ratio of -14.16 and a beta of 2.00. C3.ai, Inc. has a twelve month low of $18.85 and a twelve month high of $45.08. The stock's fifty day moving average price is $35.70 and its 200-day moving average price is $28.98.

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.