UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Decreases Stock Position in C3.ai, Inc. (NYSE:AI)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its holdings in C3.ai, Inc. (NYSE:AI - Free Report) by 12.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 170,079 shares of the company's stock after selling 24,653 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.13% of C3.ai worth $4,121,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. JTC Employer Solutions Trustee Ltd acquired a new stake in shares of C3.ai during the third quarter worth approximately $25,000. Blue Trust Inc. grew 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 purchasing an additional 615 shares in the last quarter. Unique Wealth Strategies LLC bought a new stake in shares of C3.ai during the second quarter valued at about $28,000. Hobbs Group Advisors LLC bought a new position in C3.ai in the 2nd quarter valued at about $29,000. Finally, Northwestern Mutual Wealth Management Co. increased 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 buying an additional 795 shares during the period. Institutional investors and hedge funds own 38.96% of the company's stock.

Insider Buying and Selling

In related news, Director Stephen M. Ward, Jr. sold 125,000 shares of C3.ai stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $42.00, for a total value of $5,250,000.00. Following the completion of the transaction, the director now directly owns 546,495 shares in the company, valued at approximately $22,952,790. The trade was a 18.62 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Hitesh Lath sold 11,339 shares of the firm's stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $42.00, for a total value of $476,238.00. Following the completion of the transaction, the chief financial officer now owns 851 shares of the company's stock, valued at approximately $35,742. This represents a 93.02 % decrease in their position. The disclosure for this sale can be found here. 33.54% of the stock is currently owned by corporate insiders.

C3.ai Stock Performance

Shares of NYSE AI traded up $1.21 during midday trading on Friday, reaching $39.46. The stock had a trading volume of 12,198,262 shares, compared to its average volume of 5,945,487. The company's 50 day moving average price is $30.08 and its 200 day moving average price is $27.54. C3.ai, Inc. has a twelve month low of $18.85 and a twelve month high of $45.08. The firm has a market cap of $5.01 billion, a price-to-earnings ratio of -17.91 and a beta of 2.00.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on AI shares. Canaccord Genuity Group lifted their target price on shares of C3.ai from $23.00 to $40.00 and gave the company a "hold" rating in a research note on Wednesday. Wedbush lowered their price target on shares of C3.ai from $40.00 to $30.00 and set an "outperform" rating on the stock in a report on Thursday, September 5th. Piper Sandler Companies restated a "neutral" rating and set a $24.00 price target on shares of C3.ai in a research report on Thursday, September 5th. Northland Securities upped their price target on C3.ai from $35.00 to $45.00 and gave the company an "outperform" rating in a research note on Tuesday. Finally, StockNews.com raised C3.ai to a "sell" rating in a research note on Tuesday, November 26th. Four analysts have rated the stock with a sell rating, five have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, C3.ai currently has an average rating of "Hold" and a consensus price target of $35.55.

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.