Newbridge Financial Services Group Inc. Sells 926 Shares of C3.ai, Inc. (NYSE:AI)

Newbridge Financial Services Group Inc. cut its position in shares of C3.ai, Inc. (NYSE:AI) by 7.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,106 shares of the company’s stock after selling 926 shares during the period. Newbridge Financial Services Group Inc.’s holdings in C3.ai were worth $382,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Entropy Technologies LP purchased a new stake in shares of C3.ai during the 4th quarter worth approximately $745,000. Kingsview Wealth Management LLC raised its stake in C3.ai by 10.3% during the fourth quarter. Kingsview Wealth Management LLC now owns 9,663 shares of the company’s stock valued at $333,000 after purchasing an additional 906 shares in the last quarter. Ameliora Wealth Management Ltd. bought a new position in C3.ai during the fourth quarter valued at $97,000. Strategic Financial Concepts LLC purchased a new position in shares of C3.ai in the 4th quarter worth $2,015,000. Finally, Brown Lisle Cummings Inc. increased its holdings in shares of C3.ai by 100.0% in the 4th quarter. Brown Lisle Cummings Inc. now owns 800 shares of the company’s stock worth $28,000 after buying an additional 400 shares during the last quarter. Hedge funds and other institutional investors own 38.96% of the company’s stock.

Insiders Place Their Bets

In related news, Director Jim H. Snabe sold 499,700 shares of C3.ai stock in a transaction dated 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 directly owns 10,000 shares in the company, valued at $430,500. The trade was a 98.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Richard C. Levin sold 12,000 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $29.84, for a total transaction of $358,080.00. Following the transaction, the director now owns 161,664 shares in the company, 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. Insiders have sold 1,090,552 shares of company stock worth $41,475,697 in the last three months. Corporate insiders own 33.54% of the company’s stock.

Wall Street Analysts Forecast Growth

AI has been the subject of a number of analyst reports. Piper Sandler increased their price target on shares of C3.ai from $24.00 to $42.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. JPMorgan Chase & Co. lowered C3.ai from a “neutral” rating to an “underweight” rating and set a $28.00 price objective for the company. in a research note on Wednesday, December 11th. StockNews.com raised C3.ai to a “sell” rating in a research report on Tuesday, November 26th. Morgan Stanley raised their price target on C3.ai from $21.00 to $32.00 and gave the stock an “underweight” rating in a research report on Tuesday, December 10th. Finally, Canaccord Genuity Group boosted their price objective on shares of C3.ai from $23.00 to $40.00 and gave the company a “hold” rating in a research report on Wednesday, December 11th. 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $35.00.

C3.ai Price Performance

AI stock opened at $33.47 on Monday. C3.ai, Inc. has a 12 month low of $18.85 and a 12 month high of $45.08. The firm’s 50-day moving average is $35.22 and its 200 day moving average is $29.15. The company has a market capitalization of $4.32 billion, a PE ratio of -15.15 and a beta of 1.98.

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.