Aspect Partners LLC Reduces Stake in C3.ai, Inc. (NYSE:AI)

Aspect Partners LLC has significantly decreased its investment in C3.ai, Inc. (NYSE:AI) by 70.1% during the fourth quarter, as indicated in the company's latest 13F filing with the Securities and Exchange Commission. Following this reduction, Aspect Partners LLC now holds 6,563 shares of C3.ai after selling 15,374 shares. The value of these holdings is approximately $226,000 at the close of the most recent quarter.

Other Institutional Investments in C3.ai

Other institutional investors have also made adjustments to their stakes in C3.ai. For instance, Creative Planning raised its ownership by 7.0% during the third quarter, increasing its total to 56,573 shares valued at $1,371,000 after acquiring an additional 3,712 shares. Similarly, Allspring Global Investments Holdings LLC expanded its holdings by 21.5%, now owning 4,745 shares worth $115,000 after purchasing 839 additional shares in the last quarter. Additionally, International Assets Investment Management LLC established a new stake valued at around $10,560,000. Global Assets Advisory LLC also acquired a fresh position during the same period, amounting to $743,000. Lastly, Allworth Financial LP increased its stake in C3.ai by 2.8%, bringing its total to 35,915 shares valued at $870,000 after an acquisition of 994 shares.

Insider Sales Activity

In other news concerning C3.ai, CEO Thomas M. Siebel sold 552,422 shares on February 11, which amounted to $18,252,022.88 at an average price of $33.04 per share. Following this transaction, Siebel retains 1,336,968 shares in C3.ai, valued at about $44,173,422.72, marking a 29.24% reduction in his stake. This transaction was disclosed in a filing with the Securities and Exchange Commission. Additionally, Vice President Merel Witteveen sold 11,132 shares on December 30 for a total of $389,063.40 at an average price of $34.95, resulting in a 72.88% decrease in her position, now leaving her with 4,142 shares valued at $144,762.90. Over the past ninety days, insiders have collectively sold 1,642,974 shares worth $59,727,720, and they own 33.54% of the company's stock.

C3.ai Stock Performance

As of Thursday, shares of C3.ai opened at $30.77. The stock has recorded a 12-month low of $18.85 and a high of $45.08. With a market capitalization of $3.97 billion, the company has a negative PE ratio of -13.92 and a beta of 1.98. Recently, the stock's 50-day moving average stood at $34.19, while the 200-day moving average was $29.47.

Analyst Ratings and Price Targets

Research reports on C3.ai have shown mixed evaluations. StockNews.com changed its rating to "sell" on November 26. JPMorgan Chase adjusted their rating from "neutral" to "underweight," setting a price target of $28.00 on December 11. On the other hand, Morgan Stanley increased its price objective from $21.00 to $32.00 and maintained an "underweight" rating. KeyCorp similarly lowered its recommendation to "underweight" with a target price of $29.00. DA Davidson revised their assessment, upgrading C3.ai to a "hold" rating on December 18. Overall, five analysts have suggested a sell rating, five recommend holding, four indicate buying, and one presents a strong buy recommendation. MarketBeat data shows the stock has an average rating of "Hold" and a consensus target price of $35.00.

About C3.ai

C3.ai, Inc. operates as an enterprise artificial intelligence software company across various regions including North America, Europe, the Middle East, Africa, and Asia Pacific. They provide the C3 AI platform, which enables clients to design, develop, and deploy enterprise AI applications. Their offerings also include C3 AI Ex Machina for data analysis, C3 AI CRM, a specialized customer relationship management solution, and a Generative AI Product Suite for information retrieval.

C3.ai, Investment, Stocks