Ameliora Wealth Management Ltd. Makes New Investment in C3.ai, Inc. (NYSE:AI)

Ameliora Wealth Management Ltd. acquired a new stake in C3.ai, Inc. (NYSE:AI) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 2,830 shares of the company’s stock, valued at approximately $97,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in AI. Charles Schwab Investment Management Inc. boosted its holdings in C3.ai by 12.3% in 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 during the last quarter. PDT Partners LLC acquired a new position in C3.ai in the third quarter valued at $1,624,000. Janney Montgomery Scott LLC boosted its holdings in C3.ai by 70.9% in the fourth quarter. Janney Montgomery Scott LLC now owns 55,339 shares of the company’s stock valued at $1,905,000 after acquiring an additional 22,949 shares during the last quarter. Friedenthal Financial acquired a new position in C3.ai in the fourth quarter valued at $757,000. Finally, McGuire Investment Group LLC acquired a new position in C3.ai in the fourth quarter valued at $316,000. Hedge funds and other institutional investors own 38.96% of the company’s stock.

Insider Transactions at C3.ai

In related news, CFO Hitesh Lath sold 3,949 shares of the business’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $42.36, for a total transaction of $167,279.64. Following the transaction, the chief financial officer now directly owns 851 shares in the company, valued at approximately $36,048.36. The trade was a 82.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richard C. Levin sold 12,000 shares of the business’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $29.84, for a total transaction of $358,080.00. Following the transaction, the director now owns 161,664 shares in the company, valued at approximately $4,824,053.76. The trade was a 6.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,090,552 shares of company stock valued at $41,475,697 over the last 90 days. 33.54% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have commented on AI. Morgan Stanley boosted their price objective on C3.ai from $21.00 to $32.00 and gave the stock an “underweight” rating in a research note on Tuesday, December 10th. Canaccord Genuity Group boosted their price objective on C3.ai from $23.00 to $40.00 and gave the stock a “hold” rating in a research note on Wednesday, December 11th. Needham & Company LLC restated a “hold” rating on shares of C3.ai 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 target price on the stock. in a research report on Wednesday, December 11th. Finally, JMP Securities lifted 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. Five investment analysts have rated the stock with a sell rating, five have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $35.00.

C3.ai Price Performance

C3.ai stock opened at $33.68 on Friday. The company’s 50 day simple moving average is $35.35 and its 200 day simple moving average is $29.07. 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 market capitalization of $4.35 billion, a price-to-earnings ratio of -15.24 and a beta of 1.98.

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.