Allworth Financial LP Sells 7,034 Shares of C3.ai, Inc. (NYSE:AI)

Allworth Financial LP trimmed its position in C3.ai, Inc. (NYSE:AI) by 19.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,881 shares of the company’s stock after selling 7,034 shares during the period. Allworth Financial LP’s holdings in C3.ai were worth $971,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Brown Lisle Cummings Inc. increased its holdings in shares of C3.ai by 100.0% during the fourth quarter. Brown Lisle Cummings Inc. now owns 800 shares of the company’s stock valued at $28,000 after acquiring an additional 400 shares in the last quarter. R Squared Ltd acquired a new stake in C3.ai in the 4th quarter valued at $29,000. CENTRAL TRUST Co bought a new stake in C3.ai during the 4th quarter valued at $34,000. Geneos Wealth Management Inc. raised its holdings in C3.ai by 72.4% during the fourth quarter. Geneos Wealth Management Inc. now owns 1,322 shares of the company’s stock worth $46,000 after buying an additional 555 shares during the last quarter. Finally, Blue Trust Inc. lifted its stake in shares of C3.ai by 242.6% in the fourth quarter. Blue Trust Inc. now owns 1,367 shares of the company’s stock valued at $47,000 after buying an additional 968 shares in the last quarter. 38.96% of the stock is owned by institutional investors and hedge funds.

C3.ai Stock Performance

Shares of NYSE:AI opened at $30.77 on Thursday. The company has a market capitalization of $3.97 billion, a P/E ratio of -13.92 and a beta of 1.98. The company’s 50-day moving average is $34.19 and its 200 day moving average is $29.47. C3.ai, Inc. has a fifty-two week low of $18.85 and a fifty-two week high of $45.08.

Analyst Upgrades and Downgrades

AI has been the subject of several recent research reports. Needham & Company LLC reissued a “hold” rating on shares of C3.ai in a research report on Tuesday, December 10th. DA Davidson raised C3.ai to a “hold” rating in a report on Wednesday, December 18th. Canaccord Genuity Group raised their target price on C3.ai from $23.00 to $40.00 and gave the company a “hold” rating in a report on Wednesday, December 11th. KeyCorp cut C3.ai from a “sector weight” rating to an “underweight” rating and set a $29.00 target price on the stock. in a research report on Thursday, December 19th. Finally, StockNews.com raised C3.ai to a “sell” rating in a research report on Tuesday, November 26th. Five analysts have rated the stock with a sell rating, five have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $35.00.

Insiders Place Their Bets

In other C3.ai news, CFO Hitesh Lath sold 3,949 shares of the firm’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $42.36, for a total value of $167,279.64. Following the completion of the sale, the chief financial officer now directly owns 851 shares of the company’s stock, valued at $36,048.36. This trade represents a 82.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Richard C. Levin sold 12,000 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $29.84, for a total value of $358,080.00. Following the transaction, the director now directly owns 161,664 shares in the company, valued at $4,824,053.76. This represents a 6.91 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,642,974 shares of company stock valued at $59,727,720. Company insiders own 33.54% of the company’s stock.

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.