Fortem Financial Group LLC Has $909,000 Stake in C3.ai, Inc. (NYSE:AI)

Fortem Financial Group LLC cut its position in C3.ai, Inc. (NYSE:AI) by 9.6% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 26,401 shares of the company’s stock after selling 2,800 shares during the quarter. Fortem Financial Group LLC’s holdings in C3.ai were worth $909,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in AI. Geode Capital Management LLC lifted its position in shares of C3.ai by 8.8% during the 3rd quarter. Geode Capital Management LLC now owns 2,216,925 shares of the company’s stock worth $53,728,000 after buying an additional 178,870 shares during the last quarter. Hodges Capital Management Inc. acquired a new stake in shares of C3.ai in the 3rd quarter valued at approximately $1,955,000. State Street Corp grew its holdings in shares of C3.ai by 1.8% during the 3rd quarter. State Street Corp now owns 2,121,391 shares of the company’s stock valued at $51,401,000 after purchasing an additional 38,185 shares during the last quarter. Janus Henderson Group PLC increased its position in C3.ai by 21.3% during the 3rd quarter. Janus Henderson Group PLC now owns 52,182 shares of the company’s stock worth $1,265,000 after purchasing an additional 9,160 shares in the last quarter. Finally, Holocene Advisors LP lifted its stake in C3.ai by 98.4% in the 3rd quarter. Holocene Advisors LP now owns 75,780 shares of the company’s stock valued at $1,836,000 after purchasing an additional 37,594 shares during the last quarter. Institutional investors own 38.96% of the company’s stock.

Insider Activity

In other news, Director Stephen M. Ward, Jr. sold 125,000 shares of C3.ai stock in a transaction on Monday, December 9th. The stock was sold at an average price of $42.00, for a total transaction of $5,250,000.00. Following the sale, the director now directly owns 546,495 shares in the company, valued at $22,952,790. The trade was a 18.62 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Hitesh Lath sold 11,339 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $42.00, for a total value of $476,238.00. Following the completion of the transaction, the chief financial officer now owns 851 shares in the company, valued at approximately $35,742. The trade was a 93.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 668,721 shares of company stock worth $28,425,151 over the last three months. 33.54% of the stock is currently owned by insiders.

C3.ai Price Performance

Shares of NYSE:AI traded up $0.42 during trading on Monday, reaching $37.20. 4,403,791 shares of the stock were exchanged, compared to its average volume of 4,256,167. The stock has a fifty day moving average of $33.75 and a two-hundred day moving average of $28.44. C3.ai, Inc. has a 1-year low of $18.85 and a 1-year high of $45.08. The firm has a market cap of $4.80 billion, a price-to-earnings ratio of -16.83 and a beta of 2.00.

Wall Street Analysts Forecast Growth

AI has been the subject of a number of research reports. JMP Securities increased their price target on C3.ai from $40.00 to $55.00 and gave the company a “market outperform” rating in a research note on Tuesday, December 10th. Canaccord Genuity Group boosted their price target on C3.ai from $23.00 to $40.00 and gave the stock a “hold” rating in a report on Wednesday, December 11th. Needham & Company LLC reaffirmed a “hold” rating on shares of C3.ai in a research note on Tuesday, December 10th. Piper Sandler upped their price target on C3.ai from $24.00 to $42.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. Finally, DA Davidson upgraded shares of C3.ai to a “hold” rating in a research report on Wednesday, December 18th. Five equities research analysts have rated the stock with a sell rating, five have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $35.00.

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.