12,753 Shares in C3.ai, Inc. (NYSE:AI) Purchased by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC purchased a new position in shares of C3.ai, Inc. (NYSE:AI) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 12,753 shares of the company’s stock, valued at approximately $439,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its position 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 in the last quarter. PDT Partners LLC acquired a new position in C3.ai during the 3rd quarter worth about $1,624,000. Janney Montgomery Scott LLC lifted its position in C3.ai by 70.9% during the 4th quarter. Janney Montgomery Scott LLC now owns 55,339 shares of the company’s stock worth $1,905,000 after buying an additional 22,949 shares in the last quarter. Strategic Financial Concepts LLC acquired a new position in C3.ai during the 4th quarter worth about $2,015,000. Finally, Friedenthal Financial acquired a new position in C3.ai during the 4th quarter worth about $757,000. Institutional investors and hedge funds own 38.96% of the company’s stock.

Insider Activity at C3.ai

In related news, CEO Thomas M. Siebel sold 552,422 shares of the stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $33.04, for a total transaction of $18,252,022.88. Following the completion of the sale, the chief executive officer now directly owns 1,336,968 shares of the company’s stock, valued at approximately $44,173,422.72. This represents a 29.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Hitesh Lath sold 11,339 shares of the 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 $476,238.00. Following the sale, the chief financial officer now directly owns 851 shares of the company’s stock, valued at approximately $35,742. The trade was a 93.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,642,974 shares of company stock worth $59,727,720 in the last ninety days. Company insiders own 33.54% of the company’s stock.

C3.ai Price Performance

Shares of NYSE:AI opened at $26.88 on Tuesday. The company has a market capitalization of $3.47 billion, a price-to-earnings ratio of -12.16 and a beta of 1.98. The firm’s 50 day simple moving average is $33.80 and its 200 day simple moving average is $29.59. C3.ai, Inc. has a fifty-two week low of $18.85 and a fifty-two week high of $45.08.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Piper Sandler upped their price target on shares of C3.ai from $24.00 to $42.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. DA Davidson upgraded shares of C3.ai to a “hold” rating in a research report on Wednesday, December 18th. Morgan Stanley upped their target price on shares of C3.ai from $21.00 to $32.00 and gave the company an “underweight” rating in a research report on Tuesday, December 10th. KeyCorp downgraded shares of C3.ai from a “sector weight” rating to an “underweight” rating and set a $29.00 target price on the stock. in a research report on Thursday, December 19th. Finally, Northland Securities upped their target price on shares of C3.ai from $35.00 to $45.00 and gave the company an “outperform” rating in a research report on Tuesday, December 10th. Five equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, C3.ai has an average rating of “Hold” and a consensus 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.