KG&L Capital Management LLC Sells 5,010 Shares of C3.ai, Inc. (NYSE:AI)

KG&L Capital Management LLC lessened its holdings in C3.ai, Inc. (NYSE:AI) by 23.3% during the fourth quarter, HoldingsChannel reports. The firm owned 16,458 shares of the company’s stock after selling 5,010 shares during the quarter. KG&L Capital Management LLC’s holdings in C3.ai were worth $567,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of AI. Geode Capital Management LLC boosted its position in C3.ai by 8.8% in the third quarter. Geode Capital Management LLC now owns 2,216,925 shares of the company’s stock valued at $53,728,000 after buying an additional 178,870 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of C3.ai by 12.3% during 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 in the last quarter. Hodges Capital Management Inc. bought a new stake in C3.ai during the 3rd quarter worth $1,955,000. PDT Partners LLC bought a new stake in C3.ai during the 3rd quarter worth $1,624,000. Finally, International Assets Investment Management LLC acquired a new position in C3.ai in the 3rd quarter worth about $10,560,000. Institutional investors own 38.96% of the company’s stock.

Analysts Set New Price Targets

AI has been the topic of several research reports. KeyCorp cut 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. StockNews.com upgraded shares of C3.ai to a “sell” rating in a research report on Tuesday, November 26th. Northland Securities upped their price target on shares of C3.ai from $35.00 to $45.00 and gave the company an “outperform” rating in a research report on Tuesday, December 10th. Canaccord Genuity Group lifted their price target on shares of C3.ai from $23.00 to $40.00 and gave the stock a “hold” rating in a report on Wednesday, December 11th. Finally, Piper Sandler increased their price objective on C3.ai from $24.00 to $42.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Five research analysts have rated the stock with a sell rating, five have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $35.00.

Insiders Place Their Bets

In other C3.ai news, Director Stephen M. Ward, Jr. sold 125,000 shares of the firm’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $42.00, for a total value of $5,250,000.00. Following the completion of the sale, the director now directly owns 546,495 shares in the company, valued at approximately $22,952,790. This trade represents a 18.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Merel Witteveen sold 11,132 shares of the company’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $34.95, for a total transaction of $389,063.40. Following the transaction, the vice president now owns 4,142 shares in the company, valued at $144,762.90. This represents a 72.88 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,078,552 shares of company stock worth $41,117,617. 33.54% of the stock is owned by corporate insiders.

C3.ai Trading Down 2.4 %

Shares of C3.ai stock opened at $31.29 on Friday. The business has a 50-day moving average price of $35.70 and a two-hundred day moving average price of $28.98. C3.ai, Inc. has a 1-year low of $18.85 and a 1-year 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.