C3.ai (NYSE:AI) Trading Down 4.3% – Should You Sell?

C3.ai, Inc. (NYSE:AI)’s share price fell 4.3% during trading on Friday . The stock traded as low as $35.08 and last traded at $35.70. 2,267,579 shares changed hands during mid-day trading, a decline of 62% from the average session volume of 6,039,990 shares. The stock had previously closed at $37.32.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. StockNews.com upgraded C3.ai to a “sell” rating in a research report on Tuesday, November 26th. Needham & Company LLC reiterated a “hold” rating on shares of C3.ai in a report on Tuesday, December 10th. Canaccord Genuity Group upped their target price on shares of C3.ai from $23.00 to $40.00 and gave the stock a “hold” rating in a research note on Wednesday, December 11th. DA Davidson raised shares of C3.ai to a “hold” rating in a research note on Wednesday, December 18th. Finally, Piper Sandler Companies reiterated a “neutral” rating and issued a $24.00 price target on shares of C3.ai in a report on Thursday, September 5th. Five analysts have rated the stock with a sell rating, five have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $35.00.

C3.ai Stock Performance

The firm has a market capitalization of $4.53 billion, a PE ratio of -15.88 and a beta of 2.00. The stock has a fifty day moving average price of $32.54 and a 200-day moving average price of $28.25.

Insider Buying and Selling at C3.ai

In other news, CFO Hitesh Lath sold 11,339 shares of the firm’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $42.00, for a total value of $476,238.00. Following the completion of the sale, the chief financial officer now owns 851 shares of the company’s stock, valued at $35,742. This trade represents a 93.02 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jim H. Snabe sold 499,700 shares of the company’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $43.05, for a total value of $21,512,085.00. Following the transaction, the director now directly owns 10,000 shares in the company, valued at $430,500. This represents a 98.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 644,988 shares of company stock worth $27,597,453 over the last quarter. Insiders own 33.54% of the company’s stock.

Hedge Funds Weigh In On C3.ai

Hedge funds and other institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC increased its stake in C3.ai by 8.8% during the 3rd quarter. Geode Capital Management LLC now owns 2,216,925 shares of the company’s stock valued at $53,728,000 after purchasing an additional 178,870 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in C3.ai in the 2nd quarter worth $3,465,000. Charles Schwab Investment Management Inc. lifted its position 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 acquiring an additional 92,280 shares during the period. Hodges Capital Management Inc. purchased a new stake in C3.ai during the 3rd quarter valued at about $1,955,000. Finally, Hsbc Holdings PLC increased its holdings in shares of C3.ai by 679.8% in the second quarter. Hsbc Holdings PLC now owns 87,092 shares of the company’s stock valued at $2,500,000 after purchasing an additional 75,923 shares during the period. 38.96% of the stock is owned by hedge funds and other institutional investors.

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.