Edgestream Partners L.P. boosted its stake in C3.ai, Inc. (NYSE:AI – Free Report) by 247.5% during the first quarter, Holdings Channel reports. The institutional investor owned 658,573 shares of the company’s stock after buying an additional 469,057 shares during the period. Edgestream Partners L.P.’s holdings in C3.ai were worth $5,545,000 as of its most recent filing with the SEC.
Several other large investors have also recently bought and sold shares of the stock. Dimensional Fund Advisors LP boosted its holdings in shares of C3.ai by 77.1% during the third quarter. Dimensional Fund Advisors LP now owns 1,804,188 shares of the company’s stock worth $31,284,000 after acquiring an additional 785,508 shares during the period. Two Sigma Investments LP bought a new position in shares of C3.ai during the third quarter worth approximately $13,379,000. Voloridge Investment Management LLC bought a new position in shares of C3.ai during the fourth quarter worth approximately $9,183,000. Federated Hermes Inc. lifted its holdings in C3.ai by 93,578.8% during the 4th quarter. Federated Hermes Inc. now owns 675,424 shares of the company’s stock worth $9,105,000 after purchasing an additional 674,703 shares during the last quarter. Finally, Marshall Wace LLP lifted its holdings in C3.ai by 94.5% during the 4th quarter. Marshall Wace LLP now owns 1,015,709 shares of the company’s stock worth $13,692,000 after purchasing an additional 493,515 shares during the last quarter. 38.96% of the stock is owned by institutional investors.
C3.ai Price Performance
Shares of NYSE:AI opened at $9.04 on Friday. The business’s 50 day simple moving average is $9.60 and its 200 day simple moving average is $9.78. C3.ai, Inc. has a 1 year low of $7.68 and a 1 year high of $24.67. The company has a market capitalization of $1.41 billion, a P/E ratio of -2.71 and a beta of 2.06.
Analyst Ratings Changes
A number of brokerages have commented on AI. Needham & Company LLC reaffirmed a “hold” rating on shares of C3.ai in a report on Thursday, June 4th. Canaccord Genuity Group lifted their target price on C3.ai from $8.00 to $10.00 and gave the stock a “hold” rating in a report on Thursday, June 4th. KeyCorp reissued an “underweight” rating on shares of C3.ai in a report on Thursday, June 4th. Citizens Jmp reissued a “market perform” rating on shares of C3.ai in a research report on Thursday, June 4th. Finally, Weiss Ratings downgraded shares of C3.ai from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, June 16th. One investment analyst has rated the stock with a Buy rating, six have given a Hold rating and six have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus price target of $10.67.
View Our Latest Analysis on C3.ai
Insider Buying and Selling
In other C3.ai news, CEO Thomas M. Siebel sold 472,005 shares of the stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $11.11, for a total transaction of $5,243,975.55. Following the sale, the chief executive officer directly owned 722,362 shares in the company, valued at $8,025,441.82. This represents a 39.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Stephen Bradley Ehikian sold 50,542 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $9.45, for a total transaction of $477,621.90. Following the completion of the transaction, the chief executive officer directly owned 651,130 shares in the company, valued at approximately $6,153,178.50. This represents a 7.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 1,155,144 shares of company stock worth $11,420,651. Company insiders own 26.50% of the company’s stock.
C3.ai Profile
C3.ai, Inc is a leading enterprise software provider focused on delivering scalable artificial intelligence (AI) and Internet of Things (IoT) solutions to large organizations. The company’s core offering, the C3 AI Suite, is a comprehensive, model-driven platform that unifies data ingestion, model development, and application deployment. Through its suite of tools, C3.ai enables customers to accelerate digital transformation initiatives by applying advanced machine learning, predictive analytics, and AI-driven insights across a broad range of business functions.
The C3 AI Suite provides a low-code environment for data scientists and application developers to rapidly design, test, and deploy enterprise-scale AI applications.
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