Compagnie Lombard Odier SCmA Reduces Stock Position in C3.ai, Inc. (NYSE:AI)

Compagnie Lombard Odier SCmA decreased its holdings in shares of C3.ai, Inc. (NYSE:AI) by 90.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,000 shares of the company’s stock after selling 9,000 shares during the period. Compagnie Lombard Odier SCmA’s holdings in C3.ai were worth $34,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Geode Capital Management LLC increased its position in C3.ai by 8.8% during the 3rd quarter. Geode Capital Management LLC now owns 2,216,925 shares of the company’s stock valued at $53,728,000 after purchasing an additional 178,870 shares during the period. Charles Schwab Investment Management Inc. raised its stake 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 worth $20,460,000 after buying an additional 92,280 shares in the last quarter. Hodges Capital Management Inc. bought a new position in C3.ai in the third quarter worth about $1,955,000. PDT Partners LLC purchased a new stake in C3.ai in the third quarter worth about $1,624,000. Finally, Strategic Financial Concepts LLC bought a new stake in C3.ai during the 4th quarter valued at approximately $2,015,000. 38.96% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, VP Merel Witteveen sold 11,132 shares of the firm’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $34.95, for a total transaction of $389,063.40. Following the sale, the vice president now owns 4,142 shares of the company’s stock, valued at $144,762.90. This trade represents a 72.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Thomas M. Siebel sold 409,831 shares of C3.ai stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $30.97, for a total transaction of $12,692,466.07. Following the completion of the sale, the chief executive officer now owns 1,756,390 shares of the company’s stock, valued at $54,395,398.30. This represents a 18.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,642,974 shares of company stock worth $59,727,720 in the last three months. Insiders own 33.54% of the company’s stock.

C3.ai Stock Performance

Shares of C3.ai stock opened at $31.60 on Friday. The company has a 50-day simple moving average of $34.92 and a two-hundred day simple moving average of $29.30. The stock has a market capitalization of $4.08 billion, a PE ratio of -14.30 and a beta of 1.98. C3.ai, Inc. has a 52-week low of $18.85 and a 52-week high of $45.08.

Analyst Ratings Changes

Several brokerages have recently issued reports on AI. JPMorgan Chase & Co. lowered C3.ai from a “neutral” rating to an “underweight” rating and set a $28.00 target price for the company. in a research report on Wednesday, December 11th. Northland Securities increased their price objective on C3.ai from $35.00 to $45.00 and gave the stock an “outperform” rating in a report on Tuesday, December 10th. StockNews.com upgraded shares of C3.ai to a “sell” rating in a report on Tuesday, November 26th. JMP Securities increased their price target on shares of C3.ai from $40.00 to $55.00 and gave the stock a “market outperform” rating in a research note on Tuesday, December 10th. Finally, Piper Sandler lifted their price target 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 given a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, C3.ai currently has a consensus rating of “Hold” and an average 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.