Arkadios Wealth Advisors Sells 1,557 Shares of C3.ai, Inc. (NYSE:AI)

Arkadios Wealth Advisors cut its stake in C3.ai, Inc. (NYSE:AI) by 7.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,128 shares of the company’s stock after selling 1,557 shares during the quarter. Arkadios Wealth Advisors’ holdings in C3.ai were worth $693,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Geode Capital Management LLC grew its stake in C3.ai by 8.8% in the third quarter. Geode Capital Management LLC now owns 2,216,925 shares of the company’s stock worth $53,728,000 after purchasing an additional 178,870 shares during the period. Susquehanna Fundamental Investments LLC purchased a new stake in shares of C3.ai in the 2nd quarter worth about $3,465,000. Charles Schwab Investment Management Inc. increased its stake in shares of C3.ai by 12.3% in the 3rd 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 in the last quarter. Hodges Capital Management Inc. purchased a new position in C3.ai during the 3rd quarter valued at about $1,955,000. Finally, Hsbc Holdings PLC lifted its holdings in shares of C3.ai by 679.8% during the second quarter. Hsbc Holdings PLC now owns 87,092 shares of the company’s stock valued at $2,500,000 after purchasing an additional 75,923 shares during the last quarter. 38.96% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at C3.ai

In related news, CFO Hitesh Lath sold 11,339 shares of C3.ai stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $42.00, for a total transaction 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 trade represents a 93.02 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Thomas M. Siebel sold 409,831 shares of the company’s stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $30.97, for a total value of $12,692,466.07. Following the completion of the transaction, the chief executive officer now owns 1,756,390 shares of the company’s stock, valued at $54,395,398.30. The trade was a 18.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,078,552 shares of company stock valued at $41,117,617 over the last 90 days. 33.54% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. StockNews.com upgraded shares of C3.ai to a “sell” rating in a research note on Tuesday, November 26th. JMP Securities upped their price target on C3.ai from $40.00 to $55.00 and gave the company a “market outperform” rating in a report on Tuesday, December 10th. Northland Securities boosted their target price on C3.ai from $35.00 to $45.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 10th. Needham & Company LLC reaffirmed a “hold” rating on shares of C3.ai in a report on Tuesday, December 10th. Finally, JPMorgan Chase & Co. cut shares of C3.ai from a “neutral” rating to an “underweight” rating and set a $28.00 price objective for the company. in a report on Wednesday, December 11th. Five analysts have rated the stock with a sell rating, five have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, C3.ai presently has a consensus rating of “Hold” and an average target price of $35.00.

C3.ai Stock Performance

NYSE:AI opened at $31.98 on Tuesday. The stock has a 50-day simple moving average of $35.17 and a two-hundred day simple moving average of $28.81. C3.ai, Inc. has a 52-week low of $18.85 and a 52-week high of $45.08. The firm has a market capitalization of $4.13 billion, a PE ratio of -14.47 and a beta of 2.00.

C3.ai Company 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.