AlphaCentric Advisors LLC Invests $344,000 in C3.ai, Inc. (NYSE:AI)

AlphaCentric Advisors LLC bought a new position in shares of C3.ai, Inc. (NYSE:AI) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 10,000 shares of the company’s stock, valued at approximately $344,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. raised its position 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 buying an additional 92,280 shares during the period. PDT Partners LLC acquired a new stake in C3.ai during the third quarter worth about $1,624,000. Janney Montgomery Scott LLC raised its holdings in shares of C3.ai by 70.9% in the 4th quarter. Janney Montgomery Scott LLC now owns 55,339 shares of the company’s stock worth $1,905,000 after purchasing an additional 22,949 shares during the period. Strategic Financial Concepts LLC acquired a new position in shares of C3.ai in the 4th quarter valued at about $2,015,000. Finally, Friedenthal Financial purchased a new stake in shares of C3.ai during the 4th quarter worth about $757,000. Hedge funds and other institutional investors own 38.96% of the company’s stock.

Insider Buying and Selling at C3.ai

In other C3.ai news, VP Merel Witteveen sold 11,132 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $34.95, for a total transaction of $389,063.40. Following the sale, the vice president now owns 4,142 shares in the company, valued at $144,762.90. This represents a 72.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Jim H. Snabe sold 499,700 shares of the stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $43.05, for a total transaction of $21,512,085.00. Following the sale, the director now directly owns 10,000 shares in the company, valued at $430,500. This trade represents a 98.04 % 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. 33.54% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on AI shares. JPMorgan Chase & Co. cut shares of C3.ai from a “neutral” rating to an “underweight” rating and set a $28.00 price target on the stock. in a research report on Wednesday, December 11th. StockNews.com upgraded shares of C3.ai to a “sell” rating in a report on Tuesday, November 26th. Needham & Company LLC reiterated a “hold” rating on shares of C3.ai in a report on Tuesday, December 10th. Northland Securities boosted their price objective on C3.ai from $35.00 to $45.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 10th. Finally, DA Davidson upgraded C3.ai to a “hold” rating in a research note on Wednesday, December 18th. Five equities research analysts have rated the stock with a sell rating, five have given 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 presently has a consensus rating of “Hold” and an average price target of $35.00.

C3.ai Trading Down 4.0 %

AI stock opened at $31.60 on Monday. The firm has a 50 day simple moving average of $34.74 and a 200-day simple moving average of $29.37. The company has a market capitalization of $4.08 billion, a P/E ratio of -14.30 and a beta of 1.98. C3.ai, Inc. has a twelve month low of $18.85 and a twelve month high of $45.08.

About C3.ai

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.