Jim H. Snabe Sells 499,700 Shares of C3.ai, Inc. (NYSE:AI) Stock

C3.ai, Inc. (NYSE:AI) Director Jim H. Snabe sold 499,700 shares of the business’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $43.05, for a total transaction of $21,512,085.00. Following the transaction, the director now owns 10,000 shares of the company’s stock, valued at approximately $430,500. This trade represents a 98.04 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

C3.ai Stock Performance

NYSE:AI opened at $36.34 on Friday. The firm’s fifty day moving average is $31.78 and its two-hundred day moving average is $28.08. The firm has a market cap of $4.62 billion, a price-to-earnings ratio of -16.44 and a beta of 2.00. C3.ai, Inc. has a one year low of $18.85 and a one year high of $45.08.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of AI. JTC Employer Solutions Trustee Ltd purchased a new position in C3.ai in the third quarter valued at $25,000. Blue Trust Inc. increased its stake in shares of C3.ai by 148.9% in the 2nd quarter. Blue Trust Inc. now owns 1,028 shares of the company’s stock valued at $28,000 after purchasing an additional 615 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in C3.ai by 311.8% in the 2nd 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 during the period. Quest Partners LLC raised its holdings in C3.ai by 9,033.3% in the 3rd 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. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in C3.ai in the second quarter valued at approximately $41,000. 38.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on AI shares. Canaccord Genuity Group upped their price target on C3.ai from $23.00 to $40.00 and gave the stock a “hold” rating in a research report on Wednesday, December 11th. Northland Securities upped 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. Wedbush lowered their price target on C3.ai from $40.00 to $30.00 and set an “outperform” rating for the company in a report on Thursday, September 5th. Piper Sandler boosted 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, December 10th. Finally, StockNews.com raised shares of C3.ai to a “sell” rating in a research report on Tuesday, November 26th. Five analysts have rated the stock with a sell rating, five have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $35.00.

C3.ai Company 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.