C3.ai, Inc. (NYSE:AI) Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its stake in shares of C3.ai, Inc. (NYSE:AI) by 12.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 170,079 shares of the company’s stock after selling 24,653 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.13% of C3.ai worth $4,121,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. lifted its stake in shares of C3.ai by 12.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 844,389 shares of the company’s stock worth $20,460,000 after purchasing an additional 92,280 shares in the last quarter. Global Assets Advisory LLC acquired a new position in shares of C3.ai in the third quarter worth about $743,000. Janney Montgomery Scott LLC acquired a new position in shares of C3.ai in the third quarter worth about $785,000. Intech Investment Management LLC acquired a new position in shares of C3.ai in the third quarter worth about $859,000. Finally, International Assets Investment Management LLC acquired a new position in shares of C3.ai in the third quarter worth about $10,560,000. Institutional investors and hedge funds own 38.96% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Hitesh Lath sold 11,339 shares of the stock in a transaction 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 completion of the sale, the chief financial officer now owns 851 shares in the company, valued at approximately $35,742. This represents a 93.02 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Stephen M. Ward, Jr. sold 125,000 shares of the stock in a transaction on Monday, December 9th. The shares were sold at an average price of $42.00, for a total value of $5,250,000.00. Following the sale, the director now owns 546,495 shares of the company’s stock, valued at $22,952,790. This trade represents a 18.62 % decrease in their position. The disclosure for this sale can be found here. 33.54% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms recently commented on AI. Needham & Company LLC reiterated a “hold” rating on shares of C3.ai in a research note on Tuesday. Oppenheimer reissued an “outperform” rating and issued a $40.00 price objective on shares of C3.ai in a report on Thursday, September 5th. Canaccord Genuity Group boosted their price objective on C3.ai from $23.00 to $40.00 and gave the company a “hold” rating in a report on Wednesday. Piper Sandler Companies reissued a “neutral” rating and issued a $24.00 price objective on shares of C3.ai in a report on Thursday, September 5th. Finally, Northland Securities boosted their price objective on C3.ai from $35.00 to $45.00 and gave the company an “outperform” rating in a report on Tuesday. Four analysts have rated the stock with a sell rating, five have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, C3.ai presently has an average rating of “Hold” and an average price target of $35.55.

C3.ai Price Performance

AI opened at $38.24 on Friday. The company has a market capitalization of $4.86 billion, a price-to-earnings ratio of -17.30 and a beta of 1.99. C3.ai, Inc. has a 1-year low of $18.85 and a 1-year high of $45.08. The business has a 50 day moving average price of $30.08 and a two-hundred day moving average price of $27.54.

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.