SG Americas Securities LLC Lowers Stock Position in C3.ai, Inc. (NYSE:AI)

SG Americas Securities LLC lowered its stake in C3.ai, Inc. (NYSE:AI - Free Report) by 71.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,692 shares of the company's stock after selling 26,284 shares during the quarter. SG Americas Securities LLC's holdings in C3.ai were worth $368,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. JTC Employer Solutions Trustee Ltd purchased a new stake in shares of C3.ai in the 3rd quarter valued at $25,000. Northwestern Mutual Wealth Management Co. grew its position in C3.ai by 311.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,050 shares of the company's stock valued at $30,000 after acquiring an additional 795 shares in the last quarter. Quest Partners LLC increased its stake in C3.ai by 9,033.3% during the third quarter. Quest Partners LLC now owns 1,644 shares of the company's stock worth $40,000 after purchasing an additional 1,626 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of C3.ai during the second quarter worth about $41,000. Finally, Arcadia Investment Management Corp MI purchased a new position in shares of C3.ai in the third quarter valued at approximately $48,000. Hedge funds and other institutional investors own 38.96% of the company's stock.

Insider Activity at C3.ai

In related news, CFO Hitesh Lath sold 11,339 shares of the 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 sale, the chief financial officer now owns 851 shares in the company, valued at $35,742. This represents a 93.02 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Merel Witteveen sold 11,132 shares of C3.ai stock in a transaction on Monday, December 30th. The shares were sold at an average price of $34.95, for a total transaction of $389,063.40. Following the completion of the transaction, the vice president now owns 4,142 shares in the company, valued at approximately $144,762.90. This represents a 72.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,090,552 shares of company stock valued at $41,475,697 over the last ninety days. Insiders own 33.54% of the company's stock.

Analyst Ratings Changes

Several brokerages recently weighed in on AI. JMP Securities upped their target price on shares of C3.ai from $40.00 to $55.00 and gave the stock a "market outperform" rating in a research note on Tuesday, December 10th. StockNews.com upgraded C3.ai to a "sell" rating in a research note on Tuesday, November 26th. Needham & Company LLC reiterated a "hold" rating on shares of C3.ai in a report on Tuesday, December 10th. KeyCorp downgraded C3.ai from a "sector weight" rating to an "underweight" rating and set a $29.00 price target on the stock. in a report on Thursday, December 19th. Finally, Piper Sandler lifted their price objective on C3.ai from $24.00 to $42.00 and gave the company a "neutral" rating in a research note on Tuesday, December 10th. Five investment 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. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $35.00.

C3.ai Price Performance

Shares of C3.ai stock traded down $0.18 during trading hours 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's 50-day moving average is $35.30 and its two-hundred day moving average is $29.10. The company has a market cap of $4.32 billion, a P/E ratio of -15.15 and a beta of 1.98. C3.ai, Inc. has a twelve month low of $18.85 and a twelve month high of $45.08.

C3.ai 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.