R Squared Ltd Invests $29,000 in C3.ai, Inc. (NYSE:AI)

R Squared Ltd bought a new position in shares of C3.ai, Inc. (NYSE:AI) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 830 shares of the company’s stock, valued at approximately $29,000.

A number of other institutional investors have also modified their holdings of AI. SteelPeak Wealth LLC purchased a new position in C3.ai in the 4th quarter worth approximately $232,000. KBC Group NV boosted its holdings in 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 acquiring an additional 1,285 shares during the period. Blue Trust Inc. boosted its holdings in C3.ai by 344.6% in the 4th quarter. Blue Trust Inc. now owns 1,774 shares of the company’s stock worth $61,000 after acquiring an additional 1,375 shares during the period. Kingswood Wealth Advisors LLC purchased a new position in C3.ai in the 4th quarter worth approximately $633,000. Finally, PFG Investments LLC boosted its holdings in C3.ai by 4.6% in the 4th quarter. PFG Investments LLC now owns 23,290 shares of the company’s stock worth $802,000 after acquiring an additional 1,017 shares during the period. Hedge funds and other institutional investors own 38.96% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. KeyCorp cut C3.ai from a “sector weight” rating to an “underweight” rating and set a $29.00 target price for the company. in a research note on Thursday, December 19th. Piper Sandler increased their target price on C3.ai from $24.00 to $42.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. JMP Securities increased their target price on C3.ai from $40.00 to $55.00 and gave the company a “market outperform” rating in a research note on Tuesday, December 10th. Needham & Company LLC reiterated a “hold” rating on shares of C3.ai in a research note on Tuesday, December 10th. Finally, Canaccord Genuity Group increased their target price on C3.ai from $23.00 to $40.00 and gave the company a “hold” rating in a research note on Wednesday, December 11th. Five investment analysts have rated the stock with a sell rating, five have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $35.00.

C3.ai Price Performance

Shares of NYSE AI opened at $31.24 on Tuesday. C3.ai, Inc. has a 1-year low of $18.85 and a 1-year high of $45.08. The business’s fifty day moving average price is $35.58 and its two-hundred day moving average price is $28.97. The firm has a market capitalization of $4.03 billion, a PE ratio of -14.13 and a beta of 1.98.

Insiders Place Their Bets

In other news, Director Stephen M. Ward, Jr. sold 125,000 shares of the firm’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $42.00, for a total transaction of $5,250,000.00. Following the transaction, the director now directly owns 546,495 shares of the company’s stock, valued at approximately $22,952,790. This trade represents a 18.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Thomas M. Siebel sold 409,831 shares of the firm’s stock in a transaction on Tuesday, January 14th. The shares were sold at an average price of $30.97, for a total value of $12,692,466.07. Following the transaction, the chief executive officer now directly owns 1,756,390 shares in the company, valued at $54,395,398.30. This trade represents a 18.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,078,552 shares of company stock valued at $41,117,617 over the last three months. Company insiders own 33.54% of the company’s stock.

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.