Strategic Financial Concepts LLC Makes New Investment 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 fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 58,530 shares of the company's stock, valued at approximately $2,015,000.

A number of other large investors have also recently made changes to their positions in AI. Creative Planning boosted its stake in shares of C3.ai by 7.0% during the 3rd quarter. Creative Planning now owns 56,573 shares of the company's stock worth $1,371,000 after purchasing an additional 3,712 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in C3.ai by 21.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 4,745 shares of the company's stock valued at $115,000 after buying an additional 839 shares in the last quarter. International Assets Investment Management LLC bought a new stake in C3.ai during the 3rd quarter valued at about $10,560,000. Global Assets Advisory LLC bought a new stake in C3.ai during the 3rd quarter valued at about $743,000. Finally, Allworth Financial LP lifted its holdings in C3.ai by 2.8% during the 3rd quarter. Allworth Financial LP now owns 35,915 shares of the company's stock valued at $870,000 after buying an additional 994 shares in the last quarter. 38.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AI has been the subject of a number of research analyst reports. Piper Sandler lifted their price objective on shares of C3.ai from $24.00 to $42.00 and gave the company a "neutral" rating in a report on Tuesday, December 10th. Needham & Company LLC reiterated a "hold" rating on shares of C3.ai in a report on Tuesday, December 10th. Northland Securities lifted their price objective on shares of C3.ai from $35.00 to $45.00 and gave the company an "outperform" rating in a report on Tuesday, December 10th. KeyCorp lowered shares of C3.ai from a "sector weight" rating to an "underweight" rating and set a $29.00 price objective for the company. in a report on Thursday, December 19th. Finally, Morgan Stanley boosted their price target on shares of C3.ai from $21.00 to $32.00 and gave the company an "underweight" rating in a report on Tuesday, December 10th. Five equities research 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 stock. According to MarketBeat.com, C3.ai currently has an average rating of "Hold" and an average price target of $35.00.

Insider Transactions at C3.ai

In other C3.ai news, Director Stephen M. Ward, Jr. sold 125,000 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 transaction of $5,250,000.00. Following the sale, the director now owns 546,495 shares of the company's stock, valued at approximately $22,952,790. The trade was a 18.62 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Thomas M. Siebel sold 409,831 shares of the business's stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $30.97, for a total transaction of $12,692,466.07. Following the sale, the chief executive officer now directly owns 1,756,390 shares in the company, valued at approximately $54,395,398.30. This represents a 18.92 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,642,974 shares of company stock valued at $59,727,720 in the last 90 days. Insiders own 33.54% of the company's stock.

C3.ai Stock Down 4.7 %

Shares of C3.ai stock traded down $1.40 on Friday, reaching $28.50. The stock had a trading volume of 4,870,924 shares, compared to its average volume of 4,728,545. The company has a 50 day moving average price of $34.02 and a 200 day moving average price of $29.47. C3.ai, Inc. has a 1 year low of $18.85 and a 1 year high of $45.08. The stock has a market capitalization of $3.68 billion, a P/E ratio of -12.89 and a beta of 1.98.

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.