Strategic Financial Concepts LLC Buys Shares of 58,530 C3.ai, Inc. (NYSE:AI)

Strategic Financial Concepts LLC bought a new stake in C3.ai, Inc. (NYSE:AI) during the fourth quarter, HoldingsChannel.com reports. The firm bought 58,530 shares of the company’s stock, valued at approximately $2,015,000.

Several other hedge funds also recently modified their holdings of AI. Geode Capital Management LLC boosted its holdings in shares of C3.ai by 8.8% during 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 in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in C3.ai by 12.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 844,389 shares of the company’s stock worth $20,460,000 after buying an additional 92,280 shares during the period. Hodges Capital Management Inc. acquired a new position in C3.ai during the 3rd quarter worth about $1,955,000. PDT Partners LLC acquired a new position in C3.ai during the 3rd quarter worth about $1,624,000. Finally, International Assets Investment Management LLC acquired a new position in C3.ai during the 3rd quarter worth about $10,560,000. Institutional investors and hedge funds own 38.96% of the company’s stock.

C3.ai Price Performance

Shares of C3.ai stock opened at $35.13 on Tuesday. C3.ai, Inc. has a one year low of $18.85 and a one year high of $45.08. The firm has a market capitalization of $4.53 billion, a price-to-earnings ratio of -15.89 and a beta of 1.98. The business has a 50-day simple moving average of $35.22 and a 200 day simple moving average of $29.17.

Analysts Set New Price Targets

AI has been the topic of several recent research reports. StockNews.com raised C3.ai to a “sell” rating in a report on Tuesday, November 26th. Canaccord Genuity Group lifted their target price on C3.ai from $23.00 to $40.00 and gave the stock a “hold” rating in a report on Wednesday, December 11th. KeyCorp downgraded C3.ai from a “sector weight” rating to an “underweight” rating and set a $29.00 target price on the stock. in a report on Thursday, December 19th. JMP Securities lifted their target price on C3.ai from $40.00 to $55.00 and gave the stock a “market outperform” rating in a report on Tuesday, December 10th. Finally, Morgan Stanley lifted their price objective on C3.ai from $21.00 to $32.00 and gave the stock an “underweight” rating in a research report on Tuesday, December 10th. Five analysts have rated the stock with a sell rating, five have given a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, C3.ai has an average rating of “Hold” and a consensus target price of $35.00.

Insider Activity at C3.ai

In other C3.ai news, Director Jim H. Snabe sold 499,700 shares of the business’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $43.05, for a total transaction of $21,512,085.00. Following the completion of the sale, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $430,500. The trade was a 98.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Stephen M. Ward, Jr. sold 125,000 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $42.00, for a total value of $5,250,000.00. Following the sale, the director now directly owns 546,495 shares of the company’s stock, valued at $22,952,790. This represents a 18.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,090,552 shares of company stock valued at $41,475,697 in the last three months. Corporate insiders own 33.54% of the company’s stock.

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.