Insider Selling: C3.ai, Inc. (NYSE:AI) CFO Sells $476,238.00 in Stock

C3.ai, Inc. (NYSE:AI) CFO Hitesh Lath sold 11,339 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $42.00, for a total value of $476,238.00. Following the completion of the transaction, the chief financial officer now owns 851 shares in the company, valued at approximately $35,742. This trade represents a 93.02 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

C3.ai Stock Performance

Shares of C3.ai stock opened at $39.46 on Friday. The stock has a 50 day moving average of $30.08 and a 200 day moving average of $27.54. The firm has a market capitalization of $5.01 billion, a price-to-earnings ratio of -17.86 and a beta of 2.00. C3.ai, Inc. has a fifty-two week low of $18.85 and a fifty-two week high of $45.08.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on AI. Piper Sandler raised their price objective on C3.ai from $24.00 to $42.00 and gave the company a “neutral” rating in a report on Tuesday. JMP Securities raised their price target on shares of C3.ai from $40.00 to $55.00 and gave the stock a “market outperform” rating in a research note on Tuesday. Northland Securities upped their price objective on shares of C3.ai from $35.00 to $45.00 and gave the company an “outperform” rating in a research note on Tuesday. StockNews.com raised shares of C3.ai to a “sell” rating in a research note on Tuesday, November 26th. Finally, Canaccord Genuity Group upped their price target on C3.ai from $23.00 to $40.00 and gave the company a “hold” rating in a research report on Wednesday. Four equities research analysts have rated the stock with a sell rating, five have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, C3.ai currently has an average rating of “Hold” and a consensus target price of $35.55.

Hedge Funds Weigh In On C3.ai

A number of hedge funds have recently modified their holdings of AI. Charles Schwab Investment Management Inc. raised its position in C3.ai by 12.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 844,389 shares of the company’s stock valued at $20,460,000 after purchasing an additional 92,280 shares during the period. PDT Partners LLC purchased a new stake in shares of C3.ai in the 3rd quarter valued at $1,624,000. Global Assets Advisory LLC acquired a new position in C3.ai during the 3rd quarter worth about $743,000. Janney Montgomery Scott LLC purchased a new position in C3.ai during the 3rd quarter valued at about $785,000. Finally, Intech Investment Management LLC acquired a new position in C3.ai in the 3rd quarter valued at about $859,000. 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.