PFG Investments LLC Boosts Stock Holdings in C3.ai, Inc. (NYSE:AI)

PFG Investments LLC raised its holdings in C3.ai, Inc. (NYSE:AI) by 4.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,290 shares of the company’s stock after purchasing an additional 1,017 shares during the period. PFG Investments LLC’s holdings in C3.ai were worth $802,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. Charles Schwab Investment Management Inc. grew its stake in C3.ai by 12.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 844,389 shares of the company’s stock valued at $20,460,000 after acquiring an additional 92,280 shares in the last quarter. PDT Partners LLC purchased a new position in C3.ai during the third quarter valued at approximately $1,624,000. Friedenthal Financial purchased a new position in C3.ai during the fourth quarter valued at approximately $757,000. McGuire Investment Group LLC purchased a new position in C3.ai during the fourth quarter valued at approximately $316,000. Finally, Global Assets Advisory LLC purchased a new position in C3.ai during the third quarter valued at approximately $743,000. Hedge funds and other institutional investors own 38.96% of the company’s stock.

C3.ai Stock Performance

Shares of AI opened at $32.96 on Wednesday. The firm has a market cap of $4.25 billion, a price-to-earnings ratio of -14.92 and a beta of 2.00. C3.ai, Inc. has a fifty-two week low of $18.85 and a fifty-two week high of $45.08. The firm has a 50 day moving average price of $35.78 and a 200-day moving average price of $28.92.

Insider Transactions at C3.ai

In related news, Director Jim H. Snabe sold 499,700 shares of C3.ai stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $43.05, for a total value of $21,512,085.00. Following the transaction, the director now directly owns 10,000 shares of the company’s stock, valued at $430,500. The trade was a 98.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Hitesh Lath sold 3,949 shares of the company’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $42.36, for a total transaction of $167,279.64. Following the completion of the transaction, the chief financial officer now owns 851 shares of the company’s stock, valued at $36,048.36. This trade represents a 82.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,078,552 shares of company stock worth $41,117,617. 33.54% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages recently commented on AI. JMP Securities boosted their price objective on shares of C3.ai from $40.00 to $55.00 and gave the company a “market outperform” rating in a research note on Tuesday, December 10th. KeyCorp lowered shares of C3.ai from a “sector weight” rating to an “underweight” rating and set a $29.00 target price for the company. in a research report on Thursday, December 19th. Canaccord Genuity Group lifted their target price on shares of C3.ai from $23.00 to $40.00 and gave the company a “hold” rating in a research report on Wednesday, December 11th. Morgan Stanley lifted their target price on shares of C3.ai from $21.00 to $32.00 and gave the company an “underweight” rating in a research report on Tuesday, December 10th. Finally, Piper Sandler lifted their target price on shares of C3.ai from $24.00 to $42.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. Five analysts have rated the stock with a sell rating, five have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, C3.ai has an average rating of “Hold” and a consensus target price of $35.00.

About C3.ai

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.