Insider Selling: C3.ai, Inc. (NYSE:AI) CFO Sells 3,949 Shares of Stock

C3.ai, Inc. (NYSE:AI) CFO Hitesh Lath sold 3,949 shares of the stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $42.36, for a total value of $167,279.64. Following the completion of the transaction, the chief financial officer now directly owns 851 shares of the company’s stock, valued at approximately $36,048.36. The trade was a 82.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

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

• On Monday, December 9th, Hitesh Lath sold 11,339 shares of C3.ai stock. The shares were sold at an average price of $42.00, for a total value of $476,238.00.

C3.ai Stock Performance

Shares of AI opened at $39.69 on Thursday. The business’s fifty day moving average price is $31.41 and its two-hundred day moving average price is $27.98. The firm has a market capitalization of $5.04 billion, a price-to-earnings ratio of -17.96 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.

Hedge Funds Weigh In On C3.ai

Hedge funds have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. raised 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. PDT Partners LLC bought a new position in shares of C3.ai in the 3rd quarter valued at about $1,624,000. Global Assets Advisory LLC acquired a new stake in shares of C3.ai during the 3rd quarter worth approximately $743,000. Janney Montgomery Scott LLC bought a new stake in shares of C3.ai during the third quarter worth approximately $785,000. Finally, Intech Investment Management LLC acquired a new position in C3.ai in the third quarter valued at approximately $859,000. Institutional investors own 38.96% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Needham & Company LLC restated a “hold” rating on shares of C3.ai in a research note 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. StockNews.com raised shares of C3.ai to a “sell” rating in a report on Tuesday, November 26th. Morgan Stanley lifted their target price on shares of C3.ai from $21.00 to $32.00 and gave the company an “underweight” 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 on the stock. in a research report on Wednesday, December 11th. Four research analysts have rated the stock with a sell rating, five have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $35.55.

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.