Insider Selling: C3.ai, Inc. (NYSE:AI) CFO Sells 601 Shares of Stock

C3.ai, Inc. (NYSE:AI) CFO Hitesh Lath sold 601 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $35.00, for a total transaction of $21,035.00. Following the completion of the transaction, the chief financial officer now owns 250 shares in the company, valued at approximately $8,750. The trade was a 70.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Hitesh Lath also recently made the following trade(s):

• On Tuesday, December 17th, Hitesh Lath sold 3,949 shares of C3.ai stock. The stock was sold at an average price of $42.36, for a total transaction of $167,279.64.
• On Monday, December 9th, Hitesh Lath sold 11,339 shares of C3.ai stock. The stock was sold at an average price of $42.00, for a total value of $476,238.00.

C3.ai Trading Up 6.1 %

Shares of AI stock traded up $2.11 during mid-day trading on Friday, reaching $36.78. The stock had a trading volume of 4,853,270 shares, compared to its average volume of 4,235,885. The stock’s 50-day moving average price is $33.75 and its two-hundred day moving average price is $28.44. The firm has a market capitalization of $4.75 billion, a PE ratio of -16.64 and a beta of 2.00. C3.ai, Inc. has a 52-week low of $18.85 and a 52-week high of $45.08.

Analysts Set New Price Targets

AI has been the subject of several research reports. Morgan Stanley increased their price target on C3.ai from $21.00 to $32.00 and gave the stock an “underweight” rating in a research note on Tuesday, December 10th. Needham & Company LLC reiterated a “hold” rating on shares of C3.ai in a research report on Tuesday, December 10th. Piper Sandler boosted their price target on shares of C3.ai from $24.00 to $42.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. JMP Securities lifted their price objective on shares of C3.ai from $40.00 to $55.00 and gave the company a “market outperform” rating in a research note on Tuesday, December 10th. Finally, JPMorgan Chase & Co. lowered C3.ai from a “neutral” rating to an “underweight” rating and set a $28.00 price target for the company. in a report on Wednesday, December 11th. Five research analysts have rated the stock with a sell rating, five have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $35.00.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC grew its position in shares of C3.ai by 8.8% in the 3rd quarter. Geode Capital Management LLC now owns 2,216,925 shares of the company’s stock worth $53,728,000 after buying an additional 178,870 shares during the last quarter. Hodges Capital Management Inc. purchased a new stake in C3.ai in the third quarter worth $1,955,000. State Street Corp boosted its holdings in C3.ai by 1.8% in the third quarter. State Street Corp now owns 2,121,391 shares of the company’s stock valued at $51,401,000 after acquiring an additional 38,185 shares in the last quarter. Janus Henderson Group PLC increased its position in C3.ai by 21.3% during the 3rd quarter. Janus Henderson Group PLC now owns 52,182 shares of the company’s stock valued at $1,265,000 after purchasing an additional 9,160 shares during the period. Finally, Holocene Advisors LP raised its holdings in C3.ai by 98.4% in the 3rd quarter. Holocene Advisors LP now owns 75,780 shares of the company’s stock worth $1,836,000 after purchasing an additional 37,594 shares in the last quarter. Institutional investors own 38.96% of the company’s stock.

About C3.ai

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.