C3.ai, Inc. (NYSE:AI) Stake Raised by Spire Wealth Management

Spire Wealth Management lifted its stake in C3.ai, Inc. (NYSE:AI) by 253.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 7,276 shares of the company’s stock after purchasing an additional 5,216 shares during the quarter. Spire Wealth Management’s holdings in C3.ai were worth $251,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently added to or reduced their stakes in AI. DAVENPORT & Co LLC purchased a new position in shares of C3.ai during the 4th quarter valued at $209,000. DMC Group LLC acquired a new stake in C3.ai in the 4th quarter worth $269,000. R Squared Ltd bought a new stake in shares of C3.ai in the 4th quarter worth approximately $29,000. SteelPeak Wealth LLC bought a new position in shares of C3.ai during the 4th quarter worth about $232,000. Finally, KBC Group NV raised its holdings in shares of C3.ai by 35.8% in the 4th quarter. KBC Group NV now owns 4,878 shares of the company’s stock worth $168,000 after buying an additional 1,285 shares in the last quarter. 38.96% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Jim H. Snabe sold 499,700 shares of the company’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $43.05, for a total value of $21,512,085.00. Following the sale, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $430,500. This represents a 98.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Richard C. Levin sold 12,000 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $29.84, for a total value of $358,080.00. Following the sale, the director now directly owns 161,664 shares of the company’s stock, valued at $4,824,053.76. This represents a 6.91 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 1,090,552 shares of company stock worth $41,475,697. 33.54% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

AI has been the topic of a number of research analyst reports. Morgan Stanley increased their price target on C3.ai from $21.00 to $32.00 and gave the stock an “underweight” rating in a research report on Tuesday, December 10th. Piper Sandler upped their price objective on shares of C3.ai from $24.00 to $42.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. DA Davidson raised shares of C3.ai to a “hold” rating in a research note on Wednesday, December 18th. JMP Securities lifted their price target on shares of C3.ai from $40.00 to $55.00 and gave the company a “market outperform” rating in a research note on Tuesday, December 10th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of C3.ai in a research note on Tuesday, December 10th. Five equities research 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 stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $35.00.

C3.ai Trading Down 1.5 %

Shares of AI stock opened at $33.68 on Friday. The stock has a 50 day simple moving average of $35.35 and a 200 day simple moving average of $29.07. C3.ai, Inc. has a 1 year low of $18.85 and a 1 year high of $45.08. The stock has a market cap of $4.35 billion, a P/E ratio of -15.24 and a beta of 1.98.

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.