Concurrent Investment Advisors LLC Buys Shares of 12,753 C3.ai, Inc. (NYSE:AI)

Concurrent Investment Advisors LLC bought a new stake in C3.ai, Inc. (NYSE:AI) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 12,753 shares of the company’s stock, valued at approximately $439,000.

A number of other institutional investors and hedge funds have also modified their holdings of AI. Creative Planning lifted its stake in shares of C3.ai by 7.0% in the third quarter. Creative Planning now owns 56,573 shares of the company’s stock worth $1,371,000 after buying an additional 3,712 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of C3.ai by 21.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 4,745 shares of the company’s stock worth $115,000 after buying an additional 839 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in shares of C3.ai in the third quarter worth $10,560,000. Allworth Financial LP lifted its stake in shares of C3.ai by 2.8% in the third quarter. Allworth Financial LP now owns 35,915 shares of the company’s stock worth $870,000 after buying an additional 994 shares during the last quarter. Finally, PFG Investments LLC lifted its stake in shares of C3.ai by 24.7% in the third quarter. PFG Investments LLC now owns 22,273 shares of the company’s stock worth $540,000 after buying an additional 4,405 shares during the last quarter. 38.96% of the stock is currently owned by institutional investors and hedge funds.

C3.ai Price Performance

Shares of C3.ai stock opened at $26.88 on Tuesday. The firm has a market capitalization of $3.47 billion, a PE ratio of -12.16 and a beta of 1.98. The company’s fifty day moving average price is $33.80 and its two-hundred day moving average price is $29.59. C3.ai, Inc. has a 52-week low of $18.85 and a 52-week high of $45.08.

Insider Buying and Selling at C3.ai

In other news, CFO Hitesh Lath sold 11,339 shares of the company’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $42.00, for a total value of $476,238.00. Following the sale, the chief financial officer now owns 851 shares of the company’s stock, valued at approximately $35,742. This represents a 93.02 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Stephen M. Ward, Jr. sold 125,000 shares of the company’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $42.00, for a total transaction 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. The trade was a 18.62 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,642,974 shares of company stock valued at $59,727,720 in the last 90 days. 33.54% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on AI. StockNews.com upgraded shares of C3.ai to a “sell” rating in a research note on Tuesday, November 26th. KeyCorp cut 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 research note on Thursday, December 19th. JPMorgan Chase & Co. cut shares of 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. DA Davidson upgraded shares of C3.ai to a “hold” rating in a research note on Wednesday, December 18th. Finally, Piper Sandler upped their target price on shares of C3.ai from $24.00 to $42.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Five investment analysts have rated the stock with a sell rating, five have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $35.00.

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.