Stifel Financial Corp Lowers Stake in C3.ai, Inc. (NYSE:AI)

Stifel Financial Corp cut its holdings in C3.ai, Inc. (NYSE:AI) by 3.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 31,737 shares of the company’s stock after selling 1,078 shares during the quarter. Stifel Financial Corp’s holdings in C3.ai were worth $769,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Raymond James & Associates boosted its holdings in shares of C3.ai by 11.5% in the second quarter. Raymond James & Associates now owns 201,262 shares of the company’s stock valued at $5,829,000 after acquiring an additional 20,753 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in C3.ai by 0.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 771,540 shares of the company’s stock valued at $22,344,000 after purchasing an additional 1,929 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in C3.ai by 5.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,434 shares of the company’s stock worth $650,000 after purchasing an additional 1,060 shares during the period. Principal Financial Group Inc. raised its stake in shares of C3.ai by 4.3% during the 2nd quarter. Principal Financial Group Inc. now owns 11,165 shares of the company’s stock worth $323,000 after buying an additional 462 shares in the last quarter. Finally, Forum Financial Management LP lifted its holdings in shares of C3.ai by 4.4% in the 2nd quarter. Forum Financial Management LP now owns 12,893 shares of the company’s stock valued at $373,000 after buying an additional 539 shares during the period. 38.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Piper Sandler increased their price target on shares of C3.ai from $24.00 to $42.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Bank of America reduced their price target on shares of C3.ai from $24.00 to $20.00 and set an “underperform” rating for the company in a research report on Thursday, September 5th. Morgan Stanley upped their price target on C3.ai from $21.00 to $32.00 and gave the stock an “underweight” rating in a report on Tuesday, December 10th. JMP Securities boosted their target price on C3.ai from $40.00 to $55.00 and gave the stock a “market outperform” rating in a research report on Tuesday, December 10th. Finally, Northland Securities upped their target price on C3.ai from $35.00 to $45.00 and gave the company an “outperform” rating in a report on Tuesday, December 10th. Five equities research analysts have rated the stock with a sell rating, five have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $35.00.

Insider Activity at C3.ai

In related news, CFO Hitesh Lath sold 11,339 shares of the business’s stock in a transaction dated Monday, December 9th. The shares were 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 of the company’s stock, valued at $35,742. This represents a 93.02 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Stephen M. Ward, Jr. sold 125,000 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the director now directly owns 546,495 shares in the company, valued at $22,952,790. This represents a 18.62 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 644,988 shares of company stock valued at $27,597,453 over the last ninety days. Corporate insiders own 33.54% of the company’s stock.

C3.ai Price Performance

Shares of C3.ai stock opened at $35.71 on Wednesday. C3.ai, Inc. has a 1-year low of $18.85 and a 1-year high of $45.08. The company has a market capitalization of $4.61 billion, a PE ratio of -16.16 and a beta of 2.00. The business has a 50-day moving average of $31.93 and a 200-day moving average of $28.09.

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.