C3.ai, Inc. (NYSE:AI) Shares Sold by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. decreased its position in shares of C3.ai, Inc. (NYSE:AI) by 27.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,752 shares of the company’s stock after selling 13,354 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in C3.ai were worth $1,242,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. raised its holdings in shares of C3.ai by 12.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 844,389 shares of the company’s stock worth $20,460,000 after purchasing an additional 92,280 shares in the last quarter. PDT Partners LLC acquired a new stake in shares of C3.ai during the 3rd quarter valued at $1,624,000. Janney Montgomery Scott LLC boosted its stake in shares of C3.ai by 70.9% during the 4th quarter. Janney Montgomery Scott LLC now owns 55,339 shares of the company’s stock worth $1,905,000 after acquiring an additional 22,949 shares in the last quarter. Friedenthal Financial acquired a new position in shares of C3.ai in the 4th quarter worth $757,000. Finally, McGuire Investment Group LLC acquired a new stake in C3.ai during the 4th quarter worth about $316,000. 38.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Morgan Stanley boosted their target price on shares of C3.ai from $21.00 to $32.00 and gave the company an “underweight” rating in a research note on Tuesday, December 10th. DA Davidson raised shares of C3.ai to a “hold” rating in a research report on Wednesday, December 18th. StockNews.com upgraded shares of C3.ai to a “sell” rating in a research report on Tuesday, November 26th. JMP Securities boosted their price target on shares of C3.ai from $40.00 to $55.00 and gave the company a “market outperform” rating in a report on Tuesday, December 10th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of C3.ai in a research note on Tuesday, December 10th. Five equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $35.00.

C3.ai Price Performance

Shares of NYSE:AI opened at $32.03 on Wednesday. The stock has a market capitalization of $4.13 billion, a P/E ratio of -14.49 and a beta of 1.98. The business has a 50-day moving average of $35.20 and a two-hundred day moving average of $29.22. C3.ai, Inc. has a fifty-two week low of $18.85 and a fifty-two week high of $45.08.

Insider Activity at C3.ai

In other C3.ai news, Director Jim H. Snabe sold 499,700 shares of the firm’s stock in a transaction that occurred on 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 sale, the director now owns 10,000 shares of the company’s stock, valued at $430,500. This trade represents a 98.04 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Thomas M. Siebel sold 409,831 shares of C3.ai stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $30.97, for a total value of $12,692,466.07. Following the completion of the transaction, the chief executive officer now directly owns 1,756,390 shares in the company, valued at approximately $54,395,398.30. This represents a 18.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,090,552 shares of company stock valued at $41,475,697. Corporate 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.