Ieq Capital LLC raised its holdings in C3.ai, Inc. (NYSE:AI - Free Report) by 108.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 52,357 shares of the company's stock after acquiring an additional 27,293 shares during the period. Ieq Capital LLC's holdings in C3.ai were worth $1,102,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Orion Capital Management LLC acquired a new position in C3.ai in the fourth quarter valued at about $34,000. Raiffeisen Bank International AG acquired a new position in C3.ai in the fourth quarter valued at about $36,000. Garde Capital Inc. acquired a new position in C3.ai in the first quarter valued at about $29,000. CX Institutional acquired a new position in C3.ai in the first quarter valued at about $34,000. Finally, Versant Capital Management Inc grew its stake in C3.ai by 417.5% in the first quarter. Versant Capital Management Inc now owns 1,868 shares of the company's stock valued at $39,000 after acquiring an additional 1,507 shares during the period. 38.96% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of research analysts have issued reports on AI shares. DA Davidson reissued an "underperform" rating and issued a $13.00 target price (down from $25.00) on shares of C3.ai in a research note on Monday, August 11th. Northland Securities cut C3.ai from an "outperform" rating to a "market perform" rating and set a $17.00 price objective for the company. in a research report on Tuesday, August 12th. Morgan Stanley upped their price objective on C3.ai from $20.00 to $22.00 and gave the stock an "underweight" rating in a research report on Thursday, May 29th. Canaccord Genuity Group reduced their price objective on C3.ai from $30.00 to $28.00 and set a "hold" rating for the company in a research report on Thursday, May 29th. Finally, Piper Sandler reduced their price objective on C3.ai from $28.00 to $27.00 and set a "neutral" rating for the company in a research report on Thursday, May 29th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, eight have assigned a Hold rating and five have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Reduce" and a consensus price target of $27.43.
Get Our Latest Analysis on C3.ai
C3.ai Stock Performance
Shares of NYSE AI opened at $16.89 on Tuesday. The stock has a 50 day moving average price of $22.88 and a 200 day moving average price of $23.00. C3.ai, Inc. has a 52 week low of $14.70 and a 52 week high of $45.08. The stock has a market capitalization of $2.27 billion, a PE ratio of -7.54 and a beta of 1.96.
Insiders Place Their Bets
In other C3.ai news, CFO Hitesh Lath sold 17,689 shares of the company's stock in a transaction that occurred on Friday, June 27th. The stock was sold at an average price of $24.96, for a total value of $441,517.44. Following the sale, the chief financial officer owned 166,218 shares in the company, valued at $4,148,801.28. This represents a 9.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Merel Witteveen sold 5,485 shares of the stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $23.95, for a total value of $131,365.75. Following the transaction, the vice president owned 13,740 shares in the company, valued at approximately $329,073. This trade represents a 28.53% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,145,568 shares of company stock worth $50,241,976 over the last ninety days. 26.50% of the stock is currently owned by corporate insiders.
About C3.ai
(
Free Report)
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.
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