Transcendent Capital Group LLC Raises Stock Holdings in C3.ai, Inc. (NYSE:AI)

Transcendent Capital Group LLC boosted its stake in C3.ai, Inc. (NYSE:AI) by 46.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,500 shares of the company’s stock after purchasing an additional 1,425 shares during the quarter. Transcendent Capital Group LLC’s holdings in C3.ai were worth $155,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of AI. Brown Lisle Cummings Inc. raised its position in C3.ai by 100.0% during the fourth quarter. Brown Lisle Cummings Inc. now owns 800 shares of the company’s stock valued at $28,000 after purchasing an additional 400 shares in the last quarter. R Squared Ltd purchased a new stake in shares of C3.ai in the 4th quarter valued at $29,000. CENTRAL TRUST Co bought a new position in shares of C3.ai during the 4th quarter valued at $34,000. Global Retirement Partners LLC increased its holdings in shares of C3.ai by 1,004.0% in the fourth quarter. Global Retirement Partners LLC now owns 1,115 shares of the company’s stock worth $38,000 after buying an additional 1,014 shares during the period. Finally, Quest Partners LLC grew its holdings in shares of C3.ai by 9,033.3% in the third quarter. Quest Partners LLC now owns 1,644 shares of the company’s stock worth $40,000 after purchasing an additional 1,626 shares during the last quarter. 38.96% of the stock is currently owned by institutional investors.

C3.ai Price Performance

AI opened at $26.88 on Tuesday. The company’s 50 day moving average is $33.80 and its 200 day moving average is $29.59. C3.ai, Inc. has a 12-month low of $18.85 and a 12-month high of $45.08.

Insiders Place Their Bets

In other news, CEO Thomas M. Siebel sold 552,422 shares of C3.ai stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $33.04, for a total transaction of $18,252,022.88. Following the transaction, the chief executive officer now directly owns 1,336,968 shares of the company’s stock, valued at $44,173,422.72. The trade was a 29.24 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Hitesh Lath sold 11,339 shares of the stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $42.00, for a total transaction of $476,238.00. Following the completion of the sale, the chief financial officer now directly owns 851 shares of the company’s stock, 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. Over the last ninety days, insiders have sold 1,642,974 shares of company stock worth $59,727,720. Company insiders own 33.54% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on AI. Piper Sandler increased their target price on C3.ai from $24.00 to $42.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Needham & Company LLC restated a “hold” rating on shares of C3.ai in a research note on Tuesday, December 10th. Canaccord Genuity Group upped their target price on shares of C3.ai from $23.00 to $40.00 and gave the stock a “hold” rating in a research note on Wednesday, December 11th. JMP Securities raised 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. Finally, DA Davidson raised C3.ai to a “hold” rating in a research report on Wednesday, December 18th. Five analysts have rated the stock with a sell rating, five have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $35.00.

C3.ai Company 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.