Hodges Capital Management Inc. Sells 26,685 Shares of C3.ai, Inc. (NYSE:AI)

Hodges Capital Management Inc. reduced its holdings in shares of C3.ai, Inc. (NYSE:AI - Free Report) by 33.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 53,995 shares of the company's stock after selling 26,685 shares during the quarter. Hodges Capital Management Inc.'s holdings in C3.ai were worth $1,859,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. JTC Employer Solutions Trustee Ltd bought a new stake in C3.ai during the 3rd quarter worth $25,000. R Squared Ltd acquired a new stake in shares of C3.ai during the fourth quarter valued at about $29,000. Northwestern Mutual Wealth Management Co. grew its holdings in shares of C3.ai by 311.8% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,050 shares of the company's stock worth $30,000 after purchasing an additional 795 shares during the last quarter. CENTRAL TRUST Co acquired a new position in shares of C3.ai in the fourth quarter valued at approximately $34,000. Finally, Quest Partners LLC raised its holdings in C3.ai by 9,033.3% in the 3rd quarter. Quest Partners LLC now owns 1,644 shares of the company's stock valued at $40,000 after buying an additional 1,626 shares during the last quarter. 38.96% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AI has been the topic of a number of research reports. JMP Securities boosted their target price on shares of C3.ai from $40.00 to $55.00 and gave the stock a "market outperform" rating in a report on Tuesday, December 10th. Canaccord Genuity Group boosted their price objective on shares of C3.ai from $23.00 to $40.00 and gave the stock a "hold" rating in a research note on Wednesday, December 11th. DA Davidson upgraded C3.ai to a "hold" rating in a report on Wednesday, December 18th. Morgan Stanley lifted their target price on C3.ai from $21.00 to $32.00 and gave the stock an "underweight" rating in a report on Tuesday, December 10th. Finally, Northland Securities increased 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, December 10th. Five research analysts have rated the stock with a sell rating, five have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $35.00.

C3.ai Stock Down 0.5 %

AI traded down $0.18 during midday trading on Friday, hitting $33.47. The company had a trading volume of 4,276,524 shares, compared to its average volume of 4,596,177. The company has a market capitalization of $4.32 billion, a price-to-earnings ratio of -15.15 and a beta of 1.98. The stock's 50 day moving average price is $35.30 and its 200 day moving average price is $29.10. C3.ai, Inc. has a 52 week low of $18.85 and a 52 week high of $45.08.

Insider Activity at C3.ai

In other C3.ai news, CEO Thomas M. Siebel sold 409,831 shares of C3.ai stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 1,756,390 shares in the company, valued at approximately $54,395,398.30. The trade was a 18.92 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Hitesh Lath sold 11,339 shares of the stock in a transaction that occurred on 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 sale, the chief financial officer now directly owns 851 shares of the company's stock, valued at approximately $35,742. This trade represents a 93.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,090,552 shares of company stock valued at $41,475,697. 33.54% of the stock is owned by company insiders.

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.