Janney Montgomery Scott LLC Increases Stock Position in C3.ai, Inc. (NYSE:AI)

Janney Montgomery Scott LLC boosted its holdings in C3.ai, Inc. (NYSE:AI) by 70.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 55,339 shares of the company’s stock after buying an additional 22,949 shares during the period. Janney Montgomery Scott LLC’s holdings in C3.ai were worth $1,905,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of AI. Friedenthal Financial purchased a new stake in shares of C3.ai in the fourth quarter worth about $757,000. TT International Asset Management LTD bought a new position in C3.ai in the 4th quarter valued at $482,000. Wealth Enhancement Advisory Services LLC grew its position in shares of C3.ai by 28.1% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 14,400 shares of the company’s stock valued at $496,000 after purchasing an additional 3,161 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of C3.ai by 8.8% in the third quarter. Geode Capital Management LLC now owns 2,216,925 shares of the company’s stock worth $53,728,000 after purchasing an additional 178,870 shares during the period. Finally, Hodges Capital Management Inc. purchased a new stake in shares of C3.ai in the third quarter worth $1,955,000. Institutional investors own 38.96% of the company’s stock.

C3.ai Trading Down 2.4 %

Shares of NYSE:AI opened at $31.29 on Monday. The company has a market capitalization of $4.04 billion, a PE ratio of -14.16 and a beta of 2.00. C3.ai, Inc. has a 12-month low of $18.85 and a 12-month high of $45.08. The business’s fifty day simple moving average is $35.58 and its 200-day simple moving average is $28.98.

Analyst Ratings Changes

Several brokerages have recently commented on AI. Northland Securities boosted their price objective on C3.ai from $35.00 to $45.00 and gave the stock an “outperform” rating in a report on Tuesday, December 10th. Morgan Stanley raised their price objective on shares of C3.ai from $21.00 to $32.00 and gave the company an “underweight” rating in a research report on Tuesday, December 10th. Needham & Company LLC reiterated a “hold” rating on shares of C3.ai in a research report on Tuesday, December 10th. JMP Securities lifted their price target on C3.ai from $40.00 to $55.00 and gave the stock a “market outperform” rating in a research note on Tuesday, December 10th. Finally, Canaccord Genuity Group increased their price objective on 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 assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $35.00.

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 that occurred on Tuesday, January 14th. The shares were sold at an average price of $30.97, for a total transaction of $12,692,466.07. Following the sale, the chief executive officer now owns 1,756,390 shares of the company’s stock, valued at $54,395,398.30. This trade represents a 18.92 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Jim H. Snabe sold 499,700 shares of the firm’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $43.05, for a total transaction of $21,512,085.00. Following the sale, the director now owns 10,000 shares in the company, valued at approximately $430,500. This represents a 98.04 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,078,552 shares of company stock worth $41,117,617. 33.54% of the stock is owned by insiders.

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.