UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $4.12 Million Position in C3.ai, Inc. (NYSE:AI)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its position in shares of C3.ai, Inc. (NYSE:AI) by 12.7% during the 3rd quarter, Holdings Channel.com reports. The firm owned 170,079 shares of the company’s stock after selling 24,653 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in C3.ai were worth $4,121,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in AI. Charles Schwab Investment Management Inc. increased its stake in shares of C3.ai by 12.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 844,389 shares of the company’s stock worth $20,460,000 after acquiring an additional 92,280 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of C3.ai by 0.3% in the second quarter. Bank of New York Mellon Corp now owns 771,540 shares of the company’s stock worth $22,344,000 after acquiring an additional 1,929 shares during the last quarter. Raymond James & Associates increased its stake in shares of C3.ai by 11.5% in the second quarter. Raymond James & Associates now owns 201,262 shares of the company’s stock worth $5,829,000 after acquiring an additional 20,753 shares during the last quarter. Rhumbline Advisers increased its stake in shares of C3.ai by 0.5% in the second quarter. Rhumbline Advisers now owns 125,344 shares of the company’s stock worth $3,630,000 after acquiring an additional 572 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new position in shares of C3.ai in the second quarter worth $3,465,000. 38.96% of the stock is owned by institutional investors and hedge funds.

C3.ai Price Performance

AI stock opened at $38.24 on Friday. C3.ai, Inc. has a 52-week low of $18.85 and a 52-week high of $45.08. The company has a 50-day moving average of $30.08 and a two-hundred day moving average of $27.54. The stock has a market capitalization of $4.86 billion, a price-to-earnings ratio of -17.30 and a beta of 1.99.

Insider Buying and Selling at C3.ai

In related news, CFO Hitesh Lath sold 11,339 shares of the 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 completion of the sale, the chief financial officer now owns 851 shares in the company, valued at approximately $35,742. This trade represents a 93.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Stephen M. Ward, Jr. sold 125,000 shares of the stock in a transaction dated Monday, December 9th. The shares were 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 owns 546,495 shares of the company’s stock, 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. Corporate insiders own 33.54% of the company’s stock.

Analyst Ratings Changes

AI has been the topic of several analyst reports. StockNews.com raised shares of C3.ai to a “sell” rating in a research report on Tuesday, November 26th. Bank of America lowered their target price on shares of C3.ai from $24.00 to $20.00 and set an “underperform” rating on the stock in a research report on Thursday, September 5th. Canaccord Genuity Group increased their target price on shares of C3.ai from $23.00 to $40.00 and gave the stock a “hold” rating in a research report on Wednesday. Needham & Company LLC reissued a “hold” rating on shares of C3.ai in a research report on Tuesday. Finally, Piper Sandler increased their target price on shares of C3.ai from $24.00 to $42.00 and gave the stock a “neutral” rating in a research report on Tuesday. Four equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, C3.ai has an average rating of “Hold” and a consensus price target of $35.55.

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.