21,999 Shares in C3.ai, Inc. (NYSE:AI) Acquired by Friedenthal Financial

Friedenthal Financial acquired a new stake in C3.ai, Inc. (NYSE:AI) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 21,999 shares of the company’s stock, valued at approximately $757,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AI. TT International Asset Management LTD acquired a new position in shares of C3.ai during the 4th quarter worth approximately $482,000. Wealth Enhancement Advisory Services LLC lifted its position in C3.ai by 28.1% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 14,400 shares of the company’s stock worth $496,000 after buying an additional 3,161 shares in the last quarter. Geode Capital Management LLC boosted its stake in C3.ai by 8.8% during the third quarter. Geode Capital Management LLC now owns 2,216,925 shares of the company’s stock worth $53,728,000 after buying an additional 178,870 shares during the last quarter. Hodges Capital Management Inc. purchased a new stake in C3.ai in the 3rd quarter valued at $1,955,000. Finally, State Street Corp increased its stake in shares of C3.ai by 1.8% in the 3rd quarter. State Street Corp now owns 2,121,391 shares of the company’s stock worth $51,401,000 after acquiring an additional 38,185 shares during the last quarter. Institutional investors and hedge funds own 38.96% of the company’s stock.

C3.ai Trading Down 4.1 %

NYSE:AI traded down $1.34 during midday trading on Monday, reaching $31.08. The company had a trading volume of 4,531,414 shares, compared to its average volume of 4,532,502. C3.ai, Inc. has a 12-month low of $18.85 and a 12-month high of $45.08. The firm has a market capitalization of $4.01 billion, a price-to-earnings ratio of -14.06 and a beta of 2.00. The stock’s fifty day simple moving average is $34.61 and its 200-day simple moving average is $28.68.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on AI. JMP Securities boosted their price target on shares of C3.ai from $40.00 to $55.00 and gave the company a “market outperform” rating in a research report on Tuesday, December 10th. Northland Securities boosted their target price on shares of C3.ai from $35.00 to $45.00 and gave the company an “outperform” rating in a report on Tuesday, December 10th. Morgan Stanley raised their price target on shares of C3.ai from $21.00 to $32.00 and gave the stock an “underweight” rating in a report on Tuesday, December 10th. KeyCorp cut C3.ai from a “sector weight” rating to an “underweight” rating and set a $29.00 price objective on the stock. in a report on Thursday, December 19th. Finally, DA Davidson raised C3.ai to a “hold” rating in a research note on Wednesday, December 18th. Five 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 given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $35.00.

Insider Activity

In related news, Director Jim H. Snabe sold 499,700 shares of the business’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $43.05, for a total transaction of $21,512,085.00. Following the completion of the sale, the director now owns 10,000 shares in the company, valued at $430,500. The trade was a 98.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Hitesh Lath sold 11,339 shares of the stock in a transaction that occurred on 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 transaction, the chief financial officer now owns 851 shares in the company, valued at $35,742. This represents a 93.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 668,721 shares of company stock worth $28,425,151. 33.54% of the stock is currently owned by company insiders.

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.