C3.ai:Why investors favor it?
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International Assets Investment Management LLC bought a new stake in shares of $C3.ai, Inc.(AI)$ in the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 12,615 shares of the company's stock, valued at approximately $141,000.
Several other hedge funds have also recently added to or reduced their stakes in the business. Exchange Traded Concepts LLC increased its holdings in C3.ai by 17.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 20,980 shares of the company's stock valued at $235,000 after acquiring an additional 3,052 shares in the last quarter. EWG Elevate Inc. purchased a new position in C3.ai during the 4th quarter valued at about $64,000. State Street Corp grew its holdings in shares of C3.ai by 6.3% during the third quarter. State Street Corp now owns 1,595,793 shares of the company's stock worth $19,947,000 after buying an additional 94,689 shares in the last quarter. Algert Global LLC purchased a new stake in shares of C3.ai during the third quarter worth about $715,000. Finally, Two Sigma Advisers LP grew its holdings in shares of C3.ai by 3.3% during the third quarter. Two Sigma Advisers LP now owns 428,000 shares of the company's stock worth $5,350,000 after buying an additional 13,700 shares in the last quarter. 41.97% of the stock is currently owned by hedge funds and other institutional investors.
C3.ai Stock Down 0.1 %
Shares of AI stock opened at $22.76 on Wednesday. The stock has a market cap of $2.55 billion, a price-to-earnings ratio of -9.40 and a beta of 1.60. C3.ai, Inc. has a fifty-two week low of $10.16 and a fifty-two week high of $34.68. The firm's 50 day moving average price is $23.71 and its two-hundred day moving average price is $16.99.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently commented on the stock. DA Davidson reiterated a "buy" rating and set a $30.00 price target on shares of C3.ai in a report on Monday, April 10th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of C3.ai from $11.00 to $16.00 and gave the stock a "sell" rating in a report on Friday, March 3rd. Piper Sandler reiterated a "neutral" rating and set a $23.00 price target on shares of C3.ai in a report on Friday, March 10th. StockNews.com upgraded shares of C3.ai to a "sell" rating in a report on Friday, April 7th. Finally, Piper Jaffray Companies raised their target price on shares of C3.ai from $13.00 to $23.00 and gave the stock a "neutral" rating in a research report on Friday, March 3rd. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, C3.ai presently has a consensus rating of "Hold" and an average price target of $20.55.
Insider Buying and Selling at C3.ai
In other C3.ai news, Director Richard C. Levin sold 24,000 shares of C3.ai stock in a transaction that occurred on Monday, February 6th. The shares were sold at an average price of $30.03, for a total transaction of $720,720.00. Following the transaction, the director now directly owns 233,664 shares of the company's stock, valued at $7,016,929.92. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, CFO Juho Parkkinen sold 4,931 shares of C3.ai stock in a transaction that occurred on Thursday, March 16th. The shares were sold at an average price of $21.42, for a total transaction of $105,622.02. Following the sale, the chief financial officer now owns 342,888 shares in the company, valued at $7,344,660.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard C. Levin sold 24,000 shares of C3.ai stock in a transaction that occurred on Monday, February 6th. The shares were sold at an average price of $30.03, for a total transaction of $720,720.00. Following the sale, the director now owns 233,664 shares in the company, valued at approximately $7,016,929.92. The disclosure for this sale can be found here. Insiders have sold a total of 54,410 shares of company stock valued at $1,581,689 over the last ninety days. Corporate insiders own 38.08% of the company's stock.
C3.ai Profile
C3.ai, Inc operates as an enterprise artificial intelligence (AI) software company. The company provides software-as-a-service applications for enterprises. Its software solutions include C3 AI Suite, a platform-as-a-service application development and runtime environment that enables customers to design, develop, and deploy enterprise AI applications; and C3 AI Applications, which include industry-specific and application-specific turnkey AI solutions.
source:marketbeat.
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