Janney Montgomery Scott LLC Has $1.91 Million Position in C3.ai, Inc. (NYSE:AI)

Janney Montgomery Scott LLC grew its stake in shares of C3.ai, Inc. (NYSE:AI - Free Report) by 70.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 55,339 shares of the company's stock after purchasing an additional 22,949 shares during the period. Janney Montgomery Scott LLC's holdings in C3.ai were worth $1,905,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Geode Capital Management LLC lifted its holdings in shares of C3.ai by 8.8% in the third quarter. Geode Capital Management LLC now owns 2,216,925 shares of the company's stock valued at $53,728,000 after purchasing an additional 178,870 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in C3.ai by 12.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 844,389 shares of the company's stock valued at $20,460,000 after buying an additional 92,280 shares during the period. Hodges Capital Management Inc. purchased a new stake in C3.ai in the 3rd quarter worth about $1,955,000. PDT Partners LLC acquired a new stake in C3.ai during the 3rd quarter worth about $1,624,000. Finally, International Assets Investment Management LLC purchased a new position in C3.ai during the 3rd quarter valued at about $10,560,000. Institutional investors and hedge funds own 38.96% of the company's stock.

Analyst Ratings Changes

AI has been the subject of several research reports. Piper Sandler raised their price target on shares of C3.ai from $24.00 to $42.00 and gave the stock a "neutral" rating in a report on Tuesday, December 10th. Northland Securities increased their target price on shares of C3.ai from $35.00 to $45.00 and gave the stock an "outperform" rating in a research report on Tuesday, December 10th. JPMorgan Chase & Co. cut shares of C3.ai from a "neutral" rating to an "underweight" rating and set a $28.00 price target on the stock. in a report on Wednesday, December 11th. DA Davidson raised C3.ai to a "hold" rating in a research report on Wednesday, December 18th. Finally, KeyCorp downgraded C3.ai from a "sector weight" rating to an "underweight" rating and set a $29.00 target price on the stock. in a research note on Thursday, December 19th. Five equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $35.00.

C3.ai Stock Down 1.5 %

AI stock traded down $0.51 during mid-day trading on Thursday, reaching $33.68. 3,266,275 shares of the stock traded hands, compared to its average volume of 4,609,268. The business has a 50-day moving average of $35.35 and a two-hundred day moving average of $29.07. The firm has a market capitalization of $4.35 billion, a PE ratio of -15.24 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.

Insiders Place Their Bets

In related news, CFO Hitesh Lath sold 11,339 shares of the business's stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $42.00, for a total transaction of $476,238.00. Following the transaction, the chief financial officer now directly owns 851 shares in the company, valued at $35,742. The trade was a 93.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Richard C. Levin sold 12,000 shares of the firm's stock in a transaction that occurred 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 owns 161,664 shares of the company's stock, valued at $4,824,053.76. This represents a 6.91 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,090,552 shares of company stock valued at $41,475,697 in the last three months. Company insiders own 33.54% of the company's stock.

C3.ai Company Profile

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.