Arete Wealth Advisors LLC acquired a new position in C3.ai, Inc. (NYSE:AI – Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 16,388 shares of the company’s stock, valued at approximately $550,000.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Russell Investments Group Ltd. purchased a new position in C3.ai in the first quarter worth $25,000. Point72 Hong Kong Ltd purchased a new position in C3.ai in the second quarter worth $25,000. Belpointe Asset Management LLC purchased a new position in C3.ai in the fourth quarter worth $27,000. Parkside Financial Bank & Trust purchased a new position in C3.ai in the first quarter worth $27,000. Finally, Tucker Asset Management LLC bought a new stake in shares of C3.ai in the first quarter valued at $27,000. Hedge funds and other institutional investors own 38.96% of the company’s stock.
C3.ai Stock Down 3.1 %
NYSE:AI opened at $27.34 on Friday. The business’s 50-day moving average price is $34.49 and its two-hundred day moving average price is $30.15. C3.ai, Inc. has a twelve month low of $10.16 and a twelve month high of $48.87. The stock has a market cap of $3.16 billion, a P/E ratio of -11.68 and a beta of 1.49.
Analyst Upgrades and Downgrades
Several analysts have issued reports on the company. Bank of America boosted their target price on C3.ai from $16.00 to $18.00 in a research note on Thursday, June 1st. Morgan Stanley boosted their target price on C3.ai from $12.00 to $20.00 in a research note on Thursday, June 1st. Northland Securities assumed coverage on C3.ai in a research note on Tuesday, July 25th. They issued a “market perform” rating and a $40.00 target price on the stock. Wedbush lowered their target price on C3.ai from $50.00 to $42.00 and set an “outperform” rating on the stock in a research note on Thursday, September 7th. Finally, DA Davidson lowered C3.ai from a “buy” rating to a “neutral” rating and set a $30.00 target price on the stock. in a research note on Thursday, June 1st. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $26.36.
Insider Buying and Selling at C3.ai
In other C3.ai news, Director Richard C. Levin sold 12,000 shares of the firm’s stock in a transaction dated Friday, July 7th. The stock was sold at an average price of $42.02, for a total value of $504,240.00. Following the sale, the director now owns 173,664 shares of the company’s stock, valued at approximately $7,297,361.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Richard C. Levin sold 12,000 shares of the stock in a transaction dated Friday, July 7th. The stock was sold at an average price of $42.02, for a total transaction of $504,240.00. Following the transaction, the director now directly owns 173,664 shares in the company, valued at approximately $7,297,361.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Juho Parkkinen sold 4,220 shares of the stock in a transaction dated Thursday, June 29th. The shares were sold at an average price of $36.12, for a total value of $152,426.40. Following the transaction, the chief financial officer now owns 314,353 shares in the company, valued at $11,354,430.36. The disclosure for this sale can be found here. Insiders have sold a total of 485,805 shares of company stock valued at $16,242,668 in the last 90 days. Corporate insiders own 34.00% of the company’s stock.
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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