DAVENPORT & Co LLC Invests $209,000 in C3.ai, Inc. (NYSE:AI)

On February 10, 2025, it was reported that DAVENPORT & Co LLC has taken a new investment position in C3.ai, Inc. (NYSE:AI). This investment occurred during the 4th quarter, where the institutional investor purchased 6,056 shares of C3.ai’s stock, amounting to roughly $209,000.

In addition to DAVENPORT & Co LLC, several other institutional investors have been active with C3.ai shares recently. For example, AQR Capital Management LLC established a new stake in the company worth about $249,000 during the 2nd quarter. Northwestern Mutual Wealth Management Co. significantly increased its holdings in C3.ai by 311.8% in the same quarter, ultimately owning 1,050 shares valued at $30,000 after acquiring an additional 795 shares. Truist Financial Corp. also raised its stake in C3.ai by 5.1% during the second quarter and now owns 21,211 shares worth $614,000 after adding 1,023 shares. Likewise, Cetera Investment Advisers increased its ownership by 16.4% to hold 57,341 shares valued at $1,661,000 after acquiring additional shares in the last quarter. Sanctuary Advisors LLC also entered the picture with a new investment in C3.ai worth about $373,000. Currently, institutional investors hold 38.96% of C3.ai's stock.

Analysts Adjust Price Targets

A number of financial analysts have recently updated their price targets for C3.ai. Northland Securities increased their target price from $35.00 to $45.00, rating the stock as “outperform” in a report published on December 10. Meanwhile, StockNews.com downgraded C3.ai to a “sell” rating on November 26. JPMorgan Chase & Co. revised their recommendation from “neutral” to “underweight” with a price target of $28.00 as of December 11. Piper Sandler increased their price target from $24.00 to $42.00, issuing a “neutral” rating on December 10. Canaccord Genuity Group also raised their target from $23.00 to $40.00, giving the stock a “hold” rating. According to MarketBeat.com, analysis shows that C3.ai has a consensus rating of “Hold” and an average target price of $35.00.

Insider Transactions at C3.ai

In other company developments, CFO Hitesh Lath sold 11,339 shares on December 9, with an average sale price of $42.00, totaling $476,238. Following this transaction, Lath’s direct holdings have decreased to 851 shares, valued at approximately $35,742. Additionally, Director Jim H. Snabe sold 499,700 shares on December 17 for an average price of $43.05, totaling $21,512,085. After this sale, Snabe holds 10,000 shares valued at $430,500, representing a 98.04% decrease in ownership. Insiders have sold 1,090,552 shares worth $41,475,697 over the last ninety days, and company insiders maintain ownership of 33.54% of the company's stock.

C3.ai Stock Performance

C3.ai’s stock opened at $33.47 on the trading day observed. The company's market capitalization stands at $4.32 billion, with a P/E ratio of -15.15 and a beta of 1.98. The stock's 50-day simple moving average is $35.22, while the 200-day simple moving average is $29.15. C3.ai has seen a 1-year low of $18.85 and a high of $45.08.

C3.ai Company Overview

C3.ai, Inc is an enterprise artificial intelligence (AI) software company operating globally in North America, Europe, the Middle East, Africa, and the Asia Pacific. The company offers a range of products including the C3 AI platform, which is designed for application development and runtime to facilitate the creation and deployment of enterprise AI applications. They also provide C3 AI Ex Machina for data analysis-ready environments, a specific customer relationship management tool called C3 AI CRM, and the C3 Generative AI Product Suite, which helps users locate, retrieve, and present information.

Investment, Stock, Finance