Hodges Capital Management Inc. Has $1.86 Million Position in C3.ai, Inc. (NYSE:AI)

Hodges Capital Management Inc. trimmed its stake in shares of C3.ai, Inc. (NYSE:AI) by 33.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 53,995 shares of the company’s stock after selling 26,685 shares during the quarter. Hodges Capital Management Inc.’s holdings in C3.ai were worth $1,859,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. JTC Employer Solutions Trustee Ltd acquired a new stake in C3.ai during the third quarter worth approximately $25,000. R Squared Ltd bought a new stake in shares of C3.ai in the 4th quarter valued at $29,000. Northwestern Mutual Wealth Management Co. lifted its position in shares of C3.ai by 311.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,050 shares of the company’s stock valued at $30,000 after acquiring an additional 795 shares during the period. CENTRAL TRUST Co bought a new position in C3.ai during the fourth quarter worth $34,000. Finally, Quest Partners LLC grew its holdings in C3.ai by 9,033.3% in the third quarter. Quest Partners LLC now owns 1,644 shares of the company’s stock worth $40,000 after purchasing an additional 1,626 shares during the period. Institutional investors and hedge funds own 38.96% of the company’s stock.

C3.ai Price Performance

Shares of AI opened at $31.24 on Tuesday. C3.ai, Inc. has a 1 year low of $18.85 and a 1 year high of $45.08. The stock’s fifty day moving average price is $35.58 and its two-hundred day moving average price is $28.97. The firm has a market cap of $4.03 billion, a PE ratio of -14.13 and a beta of 1.98.

Insider Buying and Selling

In related news, CEO Thomas M. Siebel sold 409,831 shares of the business’s stock in a transaction on Tuesday, January 14th. The stock was sold at an average price of $30.97, for a total transaction of $12,692,466.07. Following the sale, the chief executive officer now directly owns 1,756,390 shares in the company, 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 SEC, which can be accessed through this hyperlink. Also, CFO Hitesh Lath sold 3,949 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $42.36, for a total value of $167,279.64. Following the completion of the transaction, the chief financial officer now owns 851 shares of the company’s stock, valued at approximately $36,048.36. This represents a 82.27 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,078,552 shares of company stock valued at $41,117,617. 33.54% of the stock is owned by insiders.

Analysts Set New Price Targets

AI has been the subject of a number of recent research reports. Morgan Stanley boosted their price target on shares of C3.ai from $21.00 to $32.00 and gave the company an “underweight” rating in a research note on Tuesday, December 10th. JPMorgan Chase & Co. downgraded C3.ai from a “neutral” rating to an “underweight” rating and set a $28.00 price objective for the company. in a research note on Wednesday, December 11th. Northland Securities lifted their target price on C3.ai from $35.00 to $45.00 and gave the company an “outperform” rating in a research report on Tuesday, December 10th. StockNews.com upgraded C3.ai to a “sell” rating in a research note on Tuesday, November 26th. Finally, Canaccord Genuity Group upped their target price on shares of C3.ai from $23.00 to $40.00 and gave the stock a “hold” rating in a research note on Wednesday, December 11th. Five equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, C3.ai has a consensus rating of “Hold” and an average target price 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.