Strategic Financial Concepts LLC Takes Position in C3.ai, Inc. (NYSE:AI)

Strategic Financial Concepts LLC acquired a new position in shares of C3.ai, Inc. (NYSE:AI) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 58,530 shares of the company’s stock, valued at approximately $2,015,000.

A number of other hedge funds have also made changes to their positions in the company. Brown Lisle Cummings Inc. grew its stake in C3.ai by 100.0% during the 4th quarter. Brown Lisle Cummings Inc. now owns 800 shares of the company’s stock valued at $28,000 after acquiring an additional 400 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of 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 buying an additional 457 shares during the period. Geneos Wealth Management Inc. increased its position in shares of C3.ai by 72.4% during the 4th quarter. Geneos Wealth Management Inc. now owns 1,322 shares of the company’s stock worth $46,000 after purchasing an additional 555 shares during the last quarter. Versor Investments LP increased its holdings in C3.ai by 6.4% in the 3rd quarter. Versor Investments LP now owns 12,800 shares of the company’s stock valued at $310,000 after purchasing an additional 770 shares during the last quarter. Finally, R Squared Ltd purchased a new stake in shares of C3.ai in the 4th quarter valued at $29,000. Institutional investors and hedge funds own 38.96% of the company’s stock.

Insider Buying and Selling

In other news, CFO Hitesh Lath sold 11,339 shares of the stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $42.00, for a total value of $476,238.00. Following the completion of the sale, the chief financial officer now owns 851 shares in the company, valued at approximately $35,742. This trade represents a 93.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Richard C. Levin sold 12,000 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $29.84, for a total transaction of $358,080.00. Following the completion of the transaction, the director now directly owns 161,664 shares of the company’s stock, 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. Over the last quarter, insiders sold 1,642,974 shares of company stock valued at $59,727,720. Insiders own 33.54% of the company’s stock.

Analyst Upgrades and Downgrades

AI has been the topic of a number of research reports. DA Davidson upgraded shares of C3.ai to a “hold” rating in a report on Wednesday, December 18th. Needham & Company LLC reissued a “hold” rating on shares of C3.ai in a report on Tuesday, December 10th. KeyCorp cut C3.ai from a “sector weight” rating to an “underweight” rating and set a $29.00 target price on the stock. in a research report on Thursday, December 19th. JPMorgan Chase & Co. lowered C3.ai from a “neutral” rating to an “underweight” rating and set a $28.00 price target on the stock. in a research report on Wednesday, December 11th. Finally, Northland Securities upped their price target on shares of C3.ai from $35.00 to $45.00 and gave the company an “outperform” 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 issued a strong buy rating to the company’s stock. According to MarketBeat.com, C3.ai currently has a consensus rating of “Hold” and a consensus price target of $35.00.

C3.ai Trading Down 4.0 %

NYSE AI opened at $31.60 on Tuesday. The business’s 50-day moving average price is $34.74 and its 200 day moving average price is $29.37. C3.ai, Inc. has a twelve month low of $18.85 and a twelve month high of $45.08. The company has a market capitalization of $4.08 billion, a PE ratio of -14.30 and a beta of 1.98.

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.