Strategic Financial Concepts LLC Takes Position in C3.ai, Inc. (NYSE:AI)

Strategic Financial Concepts LLC purchased a new position in shares of C3.ai, Inc. (NYSE:AI - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 58,530 shares of the company's stock, valued at approximately $2,015,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted 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 during the last quarter. State Street Corp lifted its stake in shares of C3.ai by 1.8% in the 3rd quarter. State Street Corp now owns 2,121,391 shares of the company's stock valued at $51,401,000 after acquiring an additional 38,185 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of C3.ai by 12.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 844,389 shares of the company's stock valued at $20,460,000 after acquiring an additional 92,280 shares during the last quarter. State of New Jersey Common Pension Fund D lifted its stake in shares of C3.ai by 4.8% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 81,461 shares of the company's stock valued at $1,974,000 after acquiring an additional 3,708 shares during the last quarter. Finally, Hodges Capital Management Inc. purchased a new position in C3.ai during the 3rd quarter valued at about $1,955,000. Institutional investors own 38.96% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Northland Securities boosted their price target on C3.ai from $35.00 to $45.00 and gave the company an "outperform" rating 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. DA Davidson upgraded C3.ai to a "hold" rating in a report on Wednesday, December 18th. StockNews.com upgraded C3.ai to a "sell" rating in a report on Tuesday, November 26th. Finally, Canaccord Genuity Group boosted their price target on C3.ai from $23.00 to $40.00 and gave the company a "hold" rating in a report on Wednesday, December 11th. Five investment analysts have rated the stock with a sell rating, five have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $35.00.

Insider Buying and Selling

In related news, CFO Hitesh Lath sold 3,949 shares of the company's stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $42.36, for a total value of $167,279.64. Following the transaction, the chief financial officer now directly owns 851 shares of the company's stock, valued at approximately $36,048.36. This represents a 82.27 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Thomas M. Siebel sold 409,831 shares of the company's stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $30.97, for a total value of $12,692,466.07. Following the completion of the transaction, the chief executive officer now directly owns 1,756,390 shares in the company, valued at $54,395,398.30. This trade represents a 18.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,642,974 shares of company stock worth $59,727,720 in the last 90 days. Insiders own 33.54% of the company's stock.

C3.ai Stock Performance

Shares of C3.ai stock traded down $1.31 during midday trading on Friday, hitting $31.60. The company had a trading volume of 4,246,412 shares, compared to its average volume of 4,661,048. The stock has a market capitalization of $4.08 billion, a P/E ratio of -14.30 and a beta of 1.98. The company has a 50 day moving average of $34.92 and a 200 day moving average of $29.30. C3.ai, Inc. has a 52-week low of $18.85 and a 52-week high of $45.08.

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.