C3.ai, Inc. (NYSE:AI) Stake Decreased by Perigon Wealth Management LLC

Perigon Wealth Management LLC decreased its position in shares of C3.ai, Inc. (NYSE:AI) by 10.1% 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 187,336 shares of the company’s stock after selling 21,100 shares during the period. Perigon Wealth Management LLC’s holdings in C3.ai were worth $6,053,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AI. American Century Companies Inc. raised its holdings in C3.ai by 2.1% during the second quarter. American Century Companies Inc. now owns 21,447 shares of the company’s stock worth $621,000 after purchasing an additional 432 shares in the last quarter. Vanguard Personalized Indexing Management LLC bought a new stake in C3.ai during the second quarter worth approximately $223,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in C3.ai during the second quarter worth approximately $41,000. AQR Capital Management LLC acquired a new position in C3.ai in the second quarter worth approximately $249,000. Finally, The Manufacturers Life Insurance Company grew its position in C3.ai by 3.8% in the second quarter. The Manufacturers Life Insurance Company now owns 53,554 shares of the company’s stock worth $1,551,000 after buying an additional 1,940 shares during the last quarter. Institutional investors own 38.96% of the company’s stock.

C3.ai Price Performance

Shares of AI stock opened at $31.13 on Tuesday. C3.ai, Inc. has a fifty-two week low of $18.85 and a fifty-two week high of $45.08. The stock’s 50-day moving average is $35.68 and its two-hundred day moving average is $28.91. The firm has a market cap of $4.02 billion, a P/E ratio of -14.09 and a beta of 2.00.

Insider Buying and Selling at C3.ai

In related news, CEO Thomas M. Siebel sold 409,831 shares of C3.ai stock in a transaction on Tuesday, January 14th. The shares were sold at an average price of $30.97, for a total value of $12,692,466.07. Following the completion of the sale, the chief executive officer now owns 1,756,390 shares of the company’s stock, valued at approximately $54,395,398.30. The trade was a 18.92 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Richard C. Levin sold 12,000 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $34.80, for a total transaction of $417,600.00. Following the transaction, the director now directly owns 161,664 shares in the company, valued at $5,625,907.20. The trade was a 6.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,078,552 shares of company stock worth $41,117,617 over the last ninety days. 33.54% of the stock is currently owned by insiders.

Analysts Set New Price Targets

AI has been the topic of several recent research reports. KeyCorp lowered shares of 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. JMP Securities lifted their price target on shares of C3.ai from $40.00 to $55.00 and gave the stock a “market outperform” rating in a research report on Tuesday, December 10th. DA Davidson upgraded shares of C3.ai to a “hold” rating in a research report on Wednesday, December 18th. Needham & Company LLC restated a “hold” rating on shares of C3.ai in a research report on Tuesday, December 10th. Finally, JPMorgan Chase & Co. lowered shares of C3.ai from a “neutral” rating to an “underweight” rating and set a $28.00 price target on the stock. in a research report on Wednesday, December 11th. Five investment analysts have rated the stock with a sell rating, five have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $35.00.

C3.ai 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.