Spire Wealth Management raised its stake in C3.ai, Inc. (NYSE:AI – Free Report) by 2,987.3% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 4,631 shares of the company’s stock after buying an additional 4,481 shares during the quarter. Spire Wealth Management’s holdings in C3.ai were worth $155,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. BDO Wealth Advisors LLC bought a new position in C3.ai in the 1st quarter worth approximately $81,000. Tower Research Capital LLC TRC increased its holdings in shares of C3.ai by 348.3% during the first quarter. Tower Research Capital LLC TRC now owns 63,954 shares of the company’s stock valued at $2,147,000 after purchasing an additional 49,687 shares during the period. Wedbush Securities Inc. bought a new stake in shares of C3.ai during the first quarter valued at about $258,000. US Bancorp DE lifted its holdings in C3.ai by 15.2% in the first quarter. US Bancorp DE now owns 5,406 shares of the company’s stock worth $181,000 after purchasing an additional 715 shares during the period. Finally, Russell Investments Group Ltd. bought a new position in C3.ai in the 1st quarter valued at about $25,000. Institutional investors and hedge funds own 45.63% of the company’s stock.
C3.ai Stock Up 4.0 %
AI opened at $31.78 on Tuesday. The firm has a market capitalization of $3.67 billion, a P/E ratio of -12.97 and a beta of 1.42. The stock has a fifty day moving average of $38.12 and a 200-day moving average of $29.36. C3.ai, Inc. has a 12-month low of $10.16 and a 12-month high of $48.87.
Wall Street Analysts Forecast Growth
A number of research firms have weighed in on AI. Bank of America upped their target price on C3.ai from $16.00 to $18.00 in a research report on Thursday, June 1st. Wolfe Research lowered C3.ai from a “market perform” rating to an “underperform” rating and set a $14.00 target price on the stock. in a report on Monday, April 24th. Wedbush raised shares of C3.ai from a “neutral” rating to an “outperform” rating and upped their price target for the company from $24.00 to $50.00 in a report on Thursday, June 1st. JMP Securities raised their price objective on shares of C3.ai from $38.00 to $40.00 and gave the company an “outperform” rating in a research report on Monday, July 24th. Finally, Northland Securities began coverage on shares of C3.ai in a report on Tuesday, July 25th. They issued a “market perform” rating and a $40.00 target price on the stock. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $25.83.
Read Our Latest Stock Analysis on AI
Insider Transactions at C3.ai
In related news, Director Stephen M. Ward, Jr. sold 120,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $42.09, for a total transaction of $5,050,800.00. Following the completion of the sale, the director now directly owns 546,495 shares in the company, valued at $23,001,974.55. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Stephen M. Ward, Jr. sold 120,000 shares of C3.ai stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $42.09, for a total transaction of $5,050,800.00. Following the completion of the sale, the director now owns 546,495 shares of the company’s stock, valued at $23,001,974.55. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Richard C. Levin sold 24,000 shares of the company’s stock in a transaction dated Thursday, May 25th. The stock was sold at an average price of $30.26, for a total value of $726,240.00. Following the completion of the transaction, the director now directly owns 185,664 shares in the company, valued at $5,618,192.64. The disclosure for this sale can be found here. Insiders sold 629,805 shares of company stock valued at $22,019,708 over the last three months. 38.08% of the stock is owned by corporate insiders.
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.
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