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 company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $35.00, for a total value of $21,035.00. Following the completion of the sale, the chief financial officer now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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 shares were sold at an average price of $42.00, for a total transaction of $476,238.00.

C3.ai Stock Performance

Shares of AI traded up $2.11 during mid-day trading on Friday, hitting $36.78. 4,853,270 shares of the company traded hands, compared to its average volume of 4,235,885. C3.ai, Inc. has a 1 year low of $18.85 and a 1 year high of $45.08. The stock has a 50-day moving average price of $33.75 and a two-hundred day moving average price of $28.44. The stock has a market cap of $4.75 billion, a price-to-earnings ratio of -16.64 and a beta of 2.00.

Analysts Set New Price Targets

A number of equities analysts have weighed in on AI shares. Piper Sandler raised their target price on shares of C3.ai from $24.00 to $42.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Wedbush lowered their price objective on C3.ai from $40.00 to $30.00 and set an “outperform” rating for the company in a research note on Thursday, September 5th. Morgan Stanley increased their target price on C3.ai from $21.00 to $32.00 and gave the stock an “underweight” rating in a research note on Tuesday, December 10th. DA Davidson raised C3.ai to a “hold” rating in a research report on Wednesday, December 18th. Finally, StockNews.com raised shares of C3.ai to a “sell” rating in a research report on Tuesday, November 26th. Five research analysts have rated the stock with a sell rating, five have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, C3.ai has an average rating of “Hold” and an average price target of $35.00.

Institutional Investors Weigh In On C3.ai

A number of hedge funds have recently added to or reduced their stakes in the stock. JTC Employer Solutions Trustee Ltd purchased a new position in shares of C3.ai in the 3rd quarter worth $25,000. Northwestern Mutual Wealth Management Co. boosted its position in C3.ai by 311.8% in the second 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 last quarter. Quest Partners LLC grew its stake in shares of C3.ai by 9,033.3% during the 3rd quarter. Quest Partners LLC now owns 1,644 shares of the company’s stock valued at $40,000 after purchasing an additional 1,626 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of C3.ai during the 2nd quarter valued at about $41,000. Finally, Arcadia Investment Management Corp MI bought a new position in shares of C3.ai in the 3rd quarter worth approximately $48,000. 38.96% of the stock is currently owned by hedge funds and other institutional investors.

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.