C3.ai, Inc. (NYSE:AI) Position Cut by DGS Capital Management LLC

DGS Capital Management LLC lowered its holdings in shares of C3.ai, Inc. (NYSE:AI) by 4.3% during the 4th quarter, Holdings Channel reports. The fund owned 39,889 shares of the company’s stock after selling 1,814 shares during the period. DGS Capital Management LLC’s holdings in C3.ai were worth $1,373,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in the business. JTC Employer Solutions Trustee Ltd acquired a new stake in C3.ai in the 3rd quarter valued at about $25,000. Northwestern Mutual Wealth Management Co. grew its holdings in shares of C3.ai by 311.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,050 shares of the company’s stock worth $30,000 after acquiring an additional 795 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of C3.ai during the second quarter valued at $41,000. Quest Partners LLC increased its stake in C3.ai by 9,033.3% in the 3rd quarter. Quest Partners LLC now owns 1,644 shares of the company’s stock worth $40,000 after purchasing an additional 1,626 shares in the last quarter. Finally, Arcadia Investment Management Corp MI purchased a new stake in C3.ai during the third quarter valued at about $48,000. Institutional investors and hedge funds own 38.96% of the company’s stock.

Insider Activity

In related news, Director Richard C. Levin sold 12,000 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $34.80, for a total transaction of $417,600.00. Following the transaction, the director now owns 161,664 shares of the company’s stock, valued at approximately $5,625,907.20. The trade was a 6.91 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Thomas M. Siebel sold 409,831 shares of the stock in a transaction 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 of the company’s stock, valued at approximately $54,395,398.30. This trade represents a 18.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,078,552 shares of company stock valued at $41,117,617 over the last 90 days. 33.54% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

AI has been the subject of a number of recent analyst reports. DA Davidson raised shares of C3.ai to a “hold” rating in a research note on Wednesday, December 18th. StockNews.com raised C3.ai to a “sell” rating in a research note on Tuesday, November 26th. Morgan Stanley raised their price objective on C3.ai from $21.00 to $32.00 and gave the stock an “underweight” rating in a research report on Tuesday, December 10th. Needham & Company LLC reissued a “hold” rating on shares of C3.ai in a research report on Tuesday, December 10th. Finally, JMP Securities boosted their price objective 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. Five research analysts have rated the stock with a sell rating, five have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $35.00.

C3.ai Stock Performance

AI opened at $32.82 on Friday. The firm has a market cap of $4.24 billion, a P/E ratio of -14.85 and a beta of 2.00. The business has a 50 day moving average price of $35.68 and a 200 day moving average price of $28.92. C3.ai, Inc. has a twelve month low of $18.85 and a twelve month high of $45.08.

C3.ai Company 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.