Kingswood Wealth Advisors LLC bought a new position in C3.ai, Inc. (NYSE:AI - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 18,376 shares of the company's stock, valued at approximately $633,000.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. Geode Capital Management LLC increased its stake in shares of C3.ai by 8.8% in the 3rd quarter. Geode Capital Management LLC now owns 2,216,925 shares of the company's stock valued at $53,728,000 after acquiring an additional 178,870 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in C3.ai by 12.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 844,389 shares of the company's stock worth $20,460,000 after buying an additional 92,280 shares during the period. Hodges Capital Management Inc. acquired a new stake in C3.ai in the third quarter valued at approximately $1,955,000. PDT Partners LLC acquired a new position in shares of C3.ai during the third quarter worth approximately $1,624,000. Finally, International Assets Investment Management LLC bought a new position in shares of C3.ai in the 3rd quarter worth $10,560,000. Institutional investors and hedge funds own 38.96% of the company's stock.
C3.ai Stock Up 0.1 %
Shares of NYSE:AI traded up $0.02 during trading on Thursday, hitting $31.67. 1,702,913 shares of the stock traded hands, compared to its average volume of 4,712,084. The company has a fifty day moving average price of $35.76 and a two-hundred day moving average price of $28.96. C3.ai, Inc. has a 52-week low of $18.85 and a 52-week high of $45.08. The company has a market cap of $4.09 billion, a price-to-earnings ratio of -14.32 and a beta of 2.00.
Insider Buying and Selling
In related news, CEO Thomas M. Siebel sold 409,831 shares of the business's stock in a transaction on Tuesday, January 14th. The stock was sold at an average price of $30.97, for a total value of $12,692,466.07. Following the sale, 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Hitesh Lath sold 3,949 shares of the stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $42.36, for a total value of $167,279.64. Following the completion of the sale, the chief financial officer now owns 851 shares in the company, valued at approximately $36,048.36. The trade was a 82.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,078,552 shares of company stock worth $41,117,617 in the last 90 days. Insiders own 33.54% of the company's stock.
Analyst Upgrades and Downgrades
AI has been the topic of several recent research reports. JMP Securities upped their price objective on shares of C3.ai from $40.00 to $55.00 and gave the company a "market outperform" rating in a report on Tuesday, December 10th. Canaccord Genuity Group raised 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, December 11th. Morgan Stanley upped their price objective on C3.ai from $21.00 to $32.00 and gave the stock an "underweight" rating in a report on Tuesday, December 10th. Piper Sandler upped their price objective on shares of C3.ai from $24.00 to $42.00 and gave the company a "neutral" rating in a research note on Tuesday, December 10th. Finally, KeyCorp lowered shares of C3.ai from a "sector weight" rating to an "underweight" rating and set a $29.00 price target for the company. in a research report on Thursday, December 19th. Five investment analysts have rated the stock with a sell rating, five have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $35.00.
Check Out Our Latest Stock Report on AI
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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