DMC Group LLC Makes New $269,000 Investment in C3.ai, Inc. (NYSE:AI)

DMC Group LLC purchased a new stake in C3.ai, Inc. (NYSE:AI) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 7,818 shares of the company’s stock, valued at approximately $269,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AI. R Squared Ltd purchased a new position in C3.ai during the 4th quarter valued at about $29,000. JTC Employer Solutions Trustee Ltd purchased a new position in C3.ai during the third quarter valued at approximately $25,000. Northwestern Mutual Wealth Management Co. increased its holdings in C3.ai by 311.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,050 shares of the company’s stock worth $30,000 after acquiring an additional 795 shares during the period. Geneos Wealth Management Inc. lifted its stake in C3.ai by 72.4% in 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 in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in C3.ai in the 2nd quarter valued at $41,000. 38.96% of the stock is currently owned by institutional investors.

Insider Buying and Selling at C3.ai

In other news, CEO Thomas M. Siebel sold 409,831 shares of the firm’s stock in a transaction dated Tuesday, January 14th. The shares were sold at an average price of $30.97, for a total value of $12,692,466.07. Following the completion of the sale, the chief executive officer now directly owns 1,756,390 shares of the company’s stock, valued at approximately $54,395,398.30. This trade represents a 18.92 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, 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 transaction of $476,238.00. Following the completion of the transaction, the chief financial officer now directly owns 851 shares of the company’s stock, valued at approximately $35,742. The trade was a 93.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,078,552 shares of company stock valued at $41,117,617 in the last quarter. Company insiders own 33.54% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on AI. Needham & Company LLC reissued a “hold” rating on shares of C3.ai in a research note on Tuesday, December 10th. StockNews.com upgraded C3.ai to a “sell” rating in a research report on Tuesday, November 26th. Canaccord Genuity Group upped their price objective on shares of C3.ai from $23.00 to $40.00 and gave the stock a “hold” rating in a research report on Wednesday, December 11th. Morgan Stanley boosted their price target on shares of C3.ai from $21.00 to $32.00 and gave the stock an “underweight” rating in a research note on Tuesday, December 10th. Finally, Piper Sandler raised their price objective 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 research analysts have rated the stock with a sell rating, five have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, C3.ai presently has a consensus rating of “Hold” and an average target price of $35.00.

C3.ai Stock Performance

NYSE:AI opened at $31.71 on Thursday. C3.ai, Inc. has a fifty-two week low of $18.85 and a fifty-two week high of $45.08. The business has a 50 day moving average price of $35.77 and a 200-day moving average price of $28.94. The firm has a market cap of $4.09 billion, a PE ratio of -14.35 and a beta of 2.00.

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.