SG Americas Securities LLC Has $368,000 Position in C3.ai, Inc. (NYSE:AI)

SG Americas Securities LLC trimmed its stake in shares of C3.ai, Inc. (NYSE:AI) by 71.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 10,692 shares of the company’s stock after selling 26,284 shares during the quarter. SG Americas Securities LLC’s holdings in C3.ai were worth $368,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Victory Capital Management Inc. grew its stake in C3.ai by 3.4% during the third quarter. Victory Capital Management Inc. now owns 14,078 shares of the company’s stock worth $341,000 after purchasing an additional 457 shares during the period. Versor Investments LP boosted its holdings in shares of C3.ai by 6.4% in the 3rd quarter. Versor Investments LP now owns 12,800 shares of the company’s stock worth $310,000 after buying an additional 770 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its position in C3.ai by 311.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,050 shares of the company’s stock worth $30,000 after buying an additional 795 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in C3.ai by 21.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 4,745 shares of the company’s stock valued at $115,000 after buying an additional 839 shares in the last quarter. Finally, KBC Group NV increased its position in shares of C3.ai by 37.0% during the third quarter. KBC Group NV now owns 3,593 shares of the company’s stock valued at $87,000 after buying an additional 971 shares during the period. 38.96% of the stock is owned by institutional investors and hedge funds.

C3.ai Price Performance

NYSE:AI opened at $31.24 on Tuesday. The company has a 50 day moving average price of $35.58 and a 200-day moving average price of $28.97. C3.ai, Inc. has a 1-year low of $18.85 and a 1-year high of $45.08. The firm has a market cap of $4.03 billion, a price-to-earnings ratio of -14.13 and a beta of 1.98.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Needham & Company LLC reissued a “hold” rating on shares of C3.ai in a research note on Tuesday, December 10th. JMP Securities increased their price target on shares of C3.ai from $40.00 to $55.00 and gave the company a “market outperform” rating in a research report on Tuesday, December 10th. 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. DA Davidson upgraded shares of C3.ai to a “hold” rating in a report on Wednesday, December 18th. Finally, KeyCorp downgraded C3.ai from a “sector weight” rating to an “underweight” rating and set a $29.00 price target on the stock. in a report on Thursday, December 19th. Five equities research analysts have rated the stock with a sell rating, five have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $35.00.

Insider Transactions at C3.ai

In other C3.ai news, 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 owns 851 shares of the company’s stock, valued at $35,742. This trade represents a 93.02 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, 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 completion of the sale, the chief executive officer now directly owns 1,756,390 shares in the company, valued at approximately $54,395,398.30. This trade represents a 18.92 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,078,552 shares of company stock valued at $41,117,617 over the last ninety days. Insiders own 33.54% of the company’s stock.

C3.ai 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.