Newbridge Financial Services Group Inc. Reduces Stake in C3.ai, Inc. (NYSE:AI)

Newbridge Financial Services Group Inc. lessened its stake in shares of C3.ai, Inc. (NYSE:AIFree Report) by 23.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,072 shares of the company’s stock after selling 5,291 shares during the quarter. Newbridge Financial Services Group Inc.’s holdings in C3.ai were worth $490,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of AI. Qube Research & Technologies Ltd purchased a new stake in shares of C3.ai in the third quarter worth $17,166,000. Vanguard Group Inc. raised its holdings in shares of C3.ai by 6.7% in the 3rd quarter. Vanguard Group Inc. now owns 10,477,374 shares of the company’s stock valued at $267,383,000 after acquiring an additional 659,986 shares in the last quarter. Coatue Management LLC boosted its position in shares of C3.ai by 25.1% during the 4th quarter. Coatue Management LLC now owns 2,832,229 shares of the company’s stock valued at $81,313,000 after acquiring an additional 568,369 shares during the last quarter. Norges Bank purchased a new position in shares of C3.ai during the fourth quarter worth about $10,879,000. Finally, UBS Group AG increased its position in shares of C3.ai by 405.2% in the third quarter. UBS Group AG now owns 183,159 shares of the company’s stock worth $4,674,000 after purchasing an additional 243,169 shares during the last quarter. 38.96% of the stock is currently owned by institutional investors.

C3.ai Price Performance

AI stock traded down $0.22 during midday trading on Tuesday, hitting $28.99. The stock had a trading volume of 462,660 shares, compared to its average volume of 6,907,569. The business has a 50-day moving average of $25.32 and a two-hundred day moving average of $27.19. C3.ai, Inc. has a 52-week low of $20.23 and a 52-week high of $46.88.

Wall Street Analyst Weigh In

A number of research firms have commented on AI. Piper Sandler cut their price target on shares of C3.ai from $33.00 to $29.00 and set a “neutral” rating for the company in a research note on Thursday, May 30th. Northland Securities raised C3.ai from a “market perform” rating to an “outperform” rating and set a $35.00 price objective on the stock in a report on Thursday, May 30th. Bank of America upped their target price on C3.ai from $18.00 to $20.00 and gave the stock an “underperform” rating in a research note on Thursday, February 29th. Wedbush reissued an “outperform” rating and set a $40.00 price target on shares of C3.ai in a research note on Wednesday, May 29th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of C3.ai in a report on Thursday, May 30th. Three investment 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. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $31.30.

View Our Latest Research Report on C3.ai

C3.ai Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for C3.ai (NYSE:AI)

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