Fortem Financial Group LLC Cuts Holdings in C3.ai, Inc. (NYSE:AI)

Fortem Financial Group LLC cut its stake in shares of C3.ai, Inc. (NYSE:AI) by 11.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 29,201 shares of the company’s stock after selling 3,800 shares during the quarter. Fortem Financial Group LLC’s holdings in C3.ai were worth $708,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. JTC Employer Solutions Trustee Ltd acquired a new position in shares of C3.ai during the 3rd quarter worth about $25,000. Blue Trust Inc. lifted its stake in C3.ai by 148.9% during the second quarter. Blue Trust Inc. now owns 1,028 shares of the company’s stock worth $28,000 after purchasing an additional 615 shares during the last quarter. Unique Wealth Strategies LLC acquired a new position in C3.ai in the second quarter valued at approximately $28,000. Hobbs Group Advisors LLC purchased a new position in C3.ai in the second quarter valued at approximately $29,000. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in C3.ai by 311.8% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,050 shares of the company’s stock worth $30,000 after purchasing an additional 795 shares in the last quarter. 38.96% of the stock is currently owned by hedge funds and other institutional investors.

C3.ai Price Performance

Shares of NYSE AI opened at $41.76 on Wednesday. The firm’s 50-day moving average is $29.47 and its two-hundred day moving average is $27.39. The company has a market capitalization of $5.30 billion, a PE ratio of -18.90 and a beta of 1.99. C3.ai, Inc. has a 12-month low of $18.85 and a 12-month high of $45.08.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on AI shares. Wedbush reduced their price target on shares of C3.ai from $40.00 to $30.00 and set an “outperform” rating for the company in a research report on Thursday, September 5th. Northland Securities boosted their target price on C3.ai from $35.00 to $45.00 and gave the company an “outperform” rating in a report on Tuesday. Piper Sandler raised their price target on C3.ai from $24.00 to $42.00 and gave the stock a “neutral” rating in a research note on Tuesday. Canaccord Genuity Group reduced their price objective on C3.ai from $30.00 to $23.00 and set a “hold” rating for the company in a research note on Thursday, September 5th. Finally, JMP Securities increased their price objective on C3.ai from $40.00 to $55.00 and gave the company a “market outperform” rating in a report on Tuesday. Three analysts have rated the stock with a sell rating, five have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, C3.ai currently has a consensus rating of “Hold” and an average target price of $34.60.

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.