Aspect Partners LLC Decreases Position in C3.ai, Inc. (NYSE:AI)

Aspect Partners LLC reduced its position in shares of C3.ai, Inc. (NYSE:AI) by 70.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,563 shares of the company’s stock after selling 15,374 shares during the period. Aspect Partners LLC’s holdings in C3.ai were worth $226,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Creative Planning raised its stake in shares of C3.ai by 7.0% in the 3rd quarter. Creative Planning now owns 56,573 shares of the company’s stock valued at $1,371,000 after acquiring an additional 3,712 shares during the period. Allspring Global Investments Holdings LLC increased its holdings 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 purchasing an additional 839 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in C3.ai in the third quarter valued at approximately $10,560,000. Global Assets Advisory LLC acquired a new position in C3.ai during the third quarter worth $743,000. Finally, Allworth Financial LP boosted its position in shares of C3.ai by 2.8% during the third quarter. Allworth Financial LP now owns 35,915 shares of the company’s stock worth $870,000 after buying an additional 994 shares during the period. Institutional investors and hedge funds own 38.96% of the company’s stock.

Insiders Place Their Bets

In other C3.ai news, CEO Thomas M. Siebel sold 552,422 shares of the business’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $33.04, for a total transaction of $18,252,022.88. Following the sale, the chief executive officer now owns 1,336,968 shares in the company, valued at approximately $44,173,422.72. The trade was a 29.24 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Merel Witteveen sold 11,132 shares of the firm’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $34.95, for a total transaction of $389,063.40. Following the completion of the transaction, the vice president now directly owns 4,142 shares of the company’s stock, valued at $144,762.90. This represents a 72.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,642,974 shares of company stock worth $59,727,720 over the last ninety days. Company insiders own 33.54% of the company’s stock.

C3.ai Trading Down 3.2 %

Shares of NYSE AI opened at $30.77 on Thursday. C3.ai, Inc. has a 12-month low of $18.85 and a 12-month high of $45.08. The company has a market cap of $3.97 billion, a PE ratio of -13.92 and a beta of 1.98. The stock has a 50 day simple moving average of $34.19 and a 200-day simple moving average of $29.47.

Analysts Set New Price Targets

AI has been the subject of several recent research reports. StockNews.com raised shares of C3.ai to a “sell” rating in a research note on Tuesday, November 26th. JPMorgan Chase & Co. lowered C3.ai from a “neutral” rating to an “underweight” rating and set a $28.00 target price on the stock. in a report on Wednesday, December 11th. Morgan Stanley boosted their price objective on shares of C3.ai from $21.00 to $32.00 and gave the stock an “underweight” rating in a research report on Tuesday, December 10th. KeyCorp lowered C3.ai from a “sector weight” rating to an “underweight” rating and set a $29.00 price target on the stock. in a research report on Thursday, December 19th. Finally, DA Davidson upgraded shares of C3.ai to a “hold” rating in a research note on Wednesday, December 18th. Five equities research analysts have rated the stock with a sell rating, five have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $35.00.

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.