State Street Corp Raises Holdings in C3.ai, Inc. (NYSE:AI)

State Street Corp lifted its holdings in shares of C3.ai, Inc. (NYSE:AI - Free Report) by 1.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,121,391 shares of the company's stock after purchasing an additional 38,185 shares during the period. State Street Corp owned about 1.67% of C3.ai worth $51,401,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Blue Trust Inc. increased its position in 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 buying an additional 615 shares during the last quarter. JTC Employer Solutions Trustee Ltd purchased a new stake in C3.ai in the 3rd quarter worth about $25,000. Northwestern Mutual Wealth Management Co. lifted its holdings in C3.ai by 311.8% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,050 shares of the company's stock valued at $30,000 after purchasing an additional 795 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in C3.ai during the second quarter worth about $41,000. Finally, Quest Partners LLC increased its stake in shares of C3.ai by 9,033.3% in 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 in the last quarter. 38.96% of the stock is owned by hedge funds and other institutional investors.

C3.ai Price Performance

AI stock traded up $0.89 during midday trading on Friday, reaching $36.34. The company had a trading volume of 12,779,795 shares, compared to its average volume of 6,077,408. The firm has a 50-day moving average price of $31.59 and a 200-day moving average price of $28.03. The company has a market capitalization of $4.62 billion, a P/E ratio of -16.44 and a beta of 2.00. C3.ai, Inc. has a 1 year low of $18.85 and a 1 year high of $45.08.

Wall Street Analyst Weigh In

Several research firms recently commented on AI. Northland Securities raised their price objective on shares of C3.ai from $35.00 to $45.00 and gave the stock an "outperform" rating in a report on Tuesday, December 10th. Piper Sandler lifted their price target on C3.ai from $24.00 to $42.00 and gave the company a "neutral" rating in a research report on Tuesday, December 10th. DA Davidson raised C3.ai to a "hold" rating in a report on Wednesday. JPMorgan Chase & Co. downgraded C3.ai from a "neutral" rating to an "underweight" rating and set a $28.00 target price for the company. in a research note on Wednesday, December 11th. Finally, Canaccord Genuity Group upped their price target on C3.ai from $23.00 to $40.00 and gave the company a "hold" rating in a research report on Wednesday, December 11th. Five research 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, C3.ai presently has an average rating of "Hold" and an average price target of $35.00.

Insider Buying and Selling

In other news, CFO Hitesh Lath sold 11,339 shares of the business's 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 $476,238.00. Following the completion of the sale, the chief financial officer now directly owns 851 shares in the company, valued at approximately $35,742. The trade was a 93.02 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director John E. Hyten sold 5,000 shares of the company's stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $38.37, for a total transaction of $191,850.00. Following the completion of the sale, the director now directly owns 263,843 shares of the company's stock, valued at $10,123,655.91. This trade represents a 1.86 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 644,988 shares of company stock worth $27,597,453. Corporate insiders own 33.54% of the company's stock.

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.