Hodges Capital Management Inc. Sells 26,685 Shares of C3.ai, Inc. (NYSE:AI)

Hodges Capital Management Inc. lowered its stake in C3.ai, Inc. (NYSE:AI) by 33.1% in the 4th quarter, HoldingsChannel.com reports. The firm owned 53,995 shares of the company’s stock after selling 26,685 shares during the period. Hodges Capital Management Inc.’s holdings in C3.ai were worth $1,859,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Victory Capital Management Inc. increased its holdings in C3.ai by 3.4% during the 3rd quarter. Victory Capital Management Inc. now owns 14,078 shares of the company’s stock valued at $341,000 after purchasing an additional 457 shares during the period. Geneos Wealth Management Inc. raised its holdings in shares of C3.ai by 72.4% during the fourth quarter. Geneos Wealth Management Inc. now owns 1,322 shares of the company’s stock valued at $46,000 after acquiring an additional 555 shares in the last quarter. Versor Investments LP boosted its holdings in C3.ai by 6.4% in the third quarter. Versor Investments LP now owns 12,800 shares of the company’s stock valued at $310,000 after acquiring an additional 770 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its position in C3.ai by 311.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,050 shares of the company’s stock valued at $30,000 after purchasing an additional 795 shares during the period. Finally, R Squared Ltd purchased a new stake in shares of C3.ai in the 4th quarter worth about $29,000. Hedge funds and other institutional investors own 38.96% of the company’s stock.

Insider Activity at C3.ai

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 value of $5,250,000.00. Following the transaction, the director now directly owns 546,495 shares in the company, valued at $22,952,790. This trade represents a 18.62 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Jim H. Snabe sold 499,700 shares of the company’s 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 sale, the director now owns 10,000 shares of the company’s stock, valued at approximately $430,500. This trade represents a 98.04 % decrease in their position. 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 ninety days. Insiders own 33.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on AI. DA Davidson raised shares of C3.ai to a “hold” rating in a research note on Wednesday, December 18th. Canaccord Genuity Group increased their target price on C3.ai from $23.00 to $40.00 and gave the stock a “hold” rating in a research report on Wednesday, December 11th. JMP Securities upped their price target on C3.ai from $40.00 to $55.00 and gave the stock a “market outperform” rating in a research note on Tuesday, December 10th. JPMorgan Chase & Co. lowered C3.ai from a “neutral” rating to an “underweight” rating and set a $28.00 price objective for the company. in a research report on Wednesday, December 11th. Finally, Piper Sandler upped their target price on shares of C3.ai from $24.00 to $42.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Five equities research analysts have rated the stock with a sell rating, five have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $35.00.

C3.ai Trading Down 0.4 %

Shares of AI opened at $31.24 on Tuesday. The company has a market cap of $4.03 billion, a price-to-earnings ratio of -14.13 and a beta of 1.98. The business’s fifty day simple moving average is $35.58 and its two-hundred day simple moving average is $28.97. C3.ai, Inc. has a 12 month low of $18.85 and a 12 month high of $45.08.

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.