6,743 Shares in C3.ai, Inc. (NYSE:AI) Purchased by SteelPeak Wealth LLC

SteelPeak Wealth LLC acquired a new position in shares of C3.ai, Inc. (NYSE:AI) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 6,743 shares of the company’s stock, valued at approximately $232,000.

Other hedge funds have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its stake in shares of C3.ai by 12.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 844,389 shares of the company’s stock worth $20,460,000 after acquiring an additional 92,280 shares during the period. PDT Partners LLC bought a new position in C3.ai during the third quarter worth about $1,624,000. Friedenthal Financial purchased a new position in shares of C3.ai in the fourth quarter worth about $757,000. McGuire Investment Group LLC bought a new stake in shares of C3.ai in the fourth quarter valued at approximately $316,000. Finally, Global Assets Advisory LLC purchased a new stake in shares of C3.ai during the 3rd quarter valued at approximately $743,000. Institutional investors own 38.96% of the company’s stock.

Insider Activity at C3.ai

In other C3.ai news, Director Jim H. Snabe sold 499,700 shares of the company’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $43.05, for a total value of $21,512,085.00. Following the completion of the sale, the director now owns 10,000 shares of the company’s stock, valued at $430,500. This represents a 98.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Hitesh Lath sold 3,949 shares of C3.ai stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $42.36, for a total transaction of $167,279.64. Following the transaction, the chief financial officer now directly owns 851 shares in the company, valued at $36,048.36. This trade represents a 82.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,078,552 shares of company stock valued at $41,117,617 over the last 90 days. 33.54% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on AI shares. StockNews.com upgraded shares of C3.ai to a “sell” rating in a research note on Tuesday, November 26th. JMP Securities boosted their price objective on C3.ai from $40.00 to $55.00 and gave the company a “market outperform” rating in a research note on Tuesday, December 10th. DA Davidson upgraded C3.ai to a “hold” rating in a research note on Wednesday, December 18th. Canaccord Genuity Group upped their price target on C3.ai from $23.00 to $40.00 and gave the company a “hold” rating in a research report on Wednesday, December 11th. Finally, JPMorgan Chase & Co. lowered shares of C3.ai from a “neutral” rating to an “underweight” rating and set a $28.00 price objective for the company. in a research report on Wednesday, December 11th. Five analysts have rated the stock with a sell rating, five have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $35.00.

C3.ai Price Performance

Shares of NYSE:AI opened at $31.29 on Friday. The company’s fifty day moving average price is $35.70 and its 200-day moving average price is $28.98. The firm has a market capitalization of $4.04 billion, a price-to-earnings ratio of -14.16 and a beta of 2.00. C3.ai, Inc. has a one year low of $18.85 and a one year high of $45.08.

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.