Entropy Technologies LP Invests $745,000 in C3.ai, Inc. (NYSE:AI)

Entropy Technologies LP bought a new stake in shares of C3.ai, Inc. (NYSE:AI) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 21,649 shares of the company’s stock, valued at approximately $745,000.

A number of other hedge funds have also recently bought and sold shares of AI. JTC Employer Solutions Trustee Ltd bought a new stake in shares of C3.ai during the 3rd quarter worth $25,000. Brown Lisle Cummings Inc. lifted its holdings in shares of 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 during the last quarter. R Squared Ltd acquired a new position in shares of C3.ai in the 4th quarter valued at $29,000. CENTRAL TRUST Co purchased a new position in C3.ai in the 4th quarter worth about $34,000. Finally, Quest Partners LLC raised its holdings in C3.ai by 9,033.3% during the 3rd quarter. Quest Partners LLC now owns 1,644 shares of the company’s stock worth $40,000 after buying an additional 1,626 shares during the period. 38.96% of the stock is owned by institutional investors and hedge funds.

Insider Activity at C3.ai

In other news, Director Stephen M. Ward, Jr. sold 125,000 shares of the company’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $42.00, for a total transaction of $5,250,000.00. Following the completion of the sale, the director now owns 546,495 shares in the company, valued at approximately $22,952,790. This represents a 18.62 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Hitesh Lath sold 11,339 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $42.00, for a total value of $476,238.00. Following the completion of the transaction, the chief financial officer now directly owns 851 shares in the company, valued at $35,742. The trade was a 93.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,090,552 shares of company stock valued at $41,475,697. 33.54% of the stock is owned by corporate insiders.

C3.ai Price Performance

Shares of AI stock opened at $32.03 on Wednesday. C3.ai, Inc. has a fifty-two week low of $18.85 and a fifty-two week high of $45.08. The stock’s 50-day moving average is $35.20 and its two-hundred day moving average is $29.22. The firm has a market cap of $4.13 billion, a P/E ratio of -14.49 and a beta of 1.98.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. JMP Securities raised their target price on shares of C3.ai from $40.00 to $55.00 and gave the stock a “market outperform” rating in a report on Tuesday, December 10th. KeyCorp lowered shares of C3.ai from a “sector weight” rating to an “underweight” rating and set a $29.00 price objective for the company. in a research note on Thursday, December 19th. Needham & Company LLC reiterated a “hold” rating on shares of C3.ai in a research report on Tuesday, December 10th. DA Davidson upgraded C3.ai to a “hold” rating in a report on Wednesday, December 18th. Finally, Northland Securities lifted their price target on C3.ai from $35.00 to $45.00 and gave the company an “outperform” rating in a report on Tuesday, December 10th. Five research analysts have rated the stock with a sell rating, five have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price 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.