Entropy Technologies LP Invests $745,000 in C3.ai, Inc. (NYSE:AI)

Entropy Technologies LP bought a new stake in shares of C3.ai, Inc. (NYSE:AI) during the 4th quarter, according to its most recent filing with the SEC. The firm bought 21,649 shares of the company’s stock, valued at approximately $745,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AI. Geode Capital Management LLC grew its stake in shares of C3.ai by 8.8% during the third quarter. Geode Capital Management LLC now owns 2,216,925 shares of the company’s stock valued at $53,728,000 after acquiring an additional 178,870 shares in the last quarter. State Street Corp grew its stake in 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 in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in C3.ai by 12.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 844,389 shares of the company’s stock worth $20,460,000 after purchasing an additional 92,280 shares during the last quarter. State of New Jersey Common Pension Fund D raised its position in shares of C3.ai by 4.8% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 81,461 shares of the company’s stock valued at $1,974,000 after purchasing an additional 3,708 shares in the last quarter. Finally, Hodges Capital Management Inc. purchased a new position in shares of C3.ai during the 3rd quarter valued at approximately $1,955,000. 38.96% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Jim H. Snabe sold 499,700 shares of the stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $43.05, for a total value of $21,512,085.00. Following the completion of the transaction, the director now owns 10,000 shares of the company’s stock, valued at approximately $430,500. This represents a 98.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Thomas M. Siebel sold 409,831 shares of the firm’s stock in a transaction on Tuesday, January 14th. The shares were sold at an average price of $30.97, for a total value of $12,692,466.07. Following the transaction, the chief executive officer now directly owns 1,756,390 shares in the company, valued at $54,395,398.30. This trade represents a 18.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,090,552 shares of company stock valued at $41,475,697 in the last quarter. Company insiders own 33.54% of the company’s stock.

C3.ai Price Performance

Shares of NYSE AI opened at $32.03 on Wednesday. The firm has a market capitalization of $4.13 billion, a PE ratio of -14.49 and a beta of 1.98. C3.ai, Inc. has a 1-year low of $18.85 and a 1-year high of $45.08. The business’s fifty day moving average price is $35.20 and its two-hundred day moving average price is $29.22.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. JMP Securities lifted their price target on shares of C3.ai from $40.00 to $55.00 and gave the stock a “market outperform” rating in a research note on Tuesday, December 10th. Northland Securities boosted their target price on shares of C3.ai from $35.00 to $45.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 10th. StockNews.com raised shares of C3.ai to a “sell” rating in a research report on Tuesday, November 26th. Needham & Company LLC reissued a “hold” rating on shares of C3.ai in a report on Tuesday, December 10th. Finally, Piper Sandler increased their target price on C3.ai from $24.00 to $42.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Five investment analysts have rated the stock with a sell rating, five have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus 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.