C3.ai, Inc. (NYSE:AI) Stock Holdings Lessened by HighTower Advisors LLC

HighTower Advisors LLC cut its stake in shares of C3.ai, Inc. (NYSE:AI) by 16.6% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 43,642 shares of the company’s stock after selling 8,670 shares during the period. HighTower Advisors LLC’s holdings in C3.ai were worth $1,054,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. American Century Companies Inc. raised its stake in shares of C3.ai by 2.1% during the 2nd quarter. American Century Companies Inc. now owns 21,447 shares of the company’s stock worth $621,000 after purchasing an additional 432 shares in the last quarter. Victory Capital Management Inc. raised its position in C3.ai by 3.4% during the third quarter. Victory Capital Management Inc. now owns 14,078 shares of the company’s stock valued at $341,000 after acquiring an additional 457 shares in the last quarter. Principal Financial Group Inc. lifted its stake in C3.ai by 4.3% in the second quarter. Principal Financial Group Inc. now owns 11,165 shares of the company’s stock valued at $323,000 after acquiring an additional 462 shares during the last quarter. Forum Financial Management LP grew its position in C3.ai by 4.4% in the second quarter. Forum Financial Management LP now owns 12,893 shares of the company’s stock worth $373,000 after acquiring an additional 539 shares in the last quarter. Finally, Rhumbline Advisers increased its stake in shares of C3.ai by 0.5% during the 2nd quarter. Rhumbline Advisers now owns 125,344 shares of the company’s stock worth $3,630,000 after purchasing an additional 572 shares during the last quarter. Institutional investors and hedge funds own 38.96% of the company’s stock.

C3.ai Stock Down 0.2 %

Shares of NYSE AI opened at $42.87 on Wednesday. C3.ai, Inc. has a 12 month low of $18.85 and a 12 month high of $45.08. The company has a market cap of $5.45 billion, a P/E ratio of -19.40 and a beta of 2.00. The business’s 50 day moving average is $31.14 and its two-hundred day moving average is $27.90.

Insider Buying and Selling

In other C3.ai news, CFO Hitesh Lath sold 3,949 shares of C3.ai stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $42.36, for a total transaction of $167,279.64. Following the sale, the chief financial officer now owns 851 shares in the company, valued at $36,048.36. The trade was a 82.27 % 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, Director John E. Hyten sold 5,000 shares of the business’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $38.37, for a total transaction of $191,850.00. Following the completion of the sale, the director now directly owns 263,843 shares in the company, valued at $10,123,655.91. This trade represents a 1.86 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 145,288 shares of company stock valued at $6,085,368. 33.54% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on AI. JPMorgan Chase & Co. lowered shares of C3.ai from a “neutral” rating to an “underweight” rating and set a $28.00 price objective for the company. in a research note on Wednesday, December 11th. Canaccord Genuity Group boosted their price target on C3.ai from $23.00 to $40.00 and gave the stock a “hold” rating in a research report on Wednesday, December 11th. Needham & Company LLC reiterated a “hold” rating on shares of C3.ai in a research note on Tuesday, December 10th. Northland Securities raised their price objective on C3.ai from $35.00 to $45.00 and gave the company an “outperform” rating in a research note on Tuesday, December 10th. Finally, StockNews.com upgraded C3.ai to a “sell” rating in a report on Tuesday, November 26th. Four equities research analysts have rated the stock with a sell rating, five have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, C3.ai has a consensus rating of “Hold” and a consensus price target of $35.55.

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.