C3.ai (NYSE:AI) Stock Price Down 0.7% – Here’s What Happened

Shares of C3.ai, Inc. (NYSE:AI) fell 0.7% during trading on Monday . The stock traded as low as $35.45 and last traded at $36.10. 1,433,209 shares traded hands during trading, a decline of 76% from the average session volume of 6,058,874 shares. The stock had previously closed at $36.34.

Wall Street Analysts Forecast Growth

AI has been the subject of several research analyst reports. Morgan Stanley upped their price target on shares of C3.ai from $21.00 to $32.00 and gave the company an “underweight” rating in a report on Tuesday, December 10th. KeyCorp lowered shares of C3.ai from a “sector weight” rating to an “underweight” rating and set a $29.00 target price for the company. in a research note on Thursday, December 19th. Northland Securities boosted their price target on C3.ai from $35.00 to $45.00 and gave the company an “outperform” rating in a report on Tuesday, December 10th. JMP Securities increased their price objective on C3.ai from $40.00 to $55.00 and gave the stock a “market outperform” rating in a report on Tuesday, December 10th. Finally, DA Davidson upgraded C3.ai to a “hold” rating in a research note on Wednesday, December 18th. Five research analysts have rated the stock with a sell rating, five have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $35.00.

C3.ai Trading Up 0.7 %

The business has a 50 day moving average price of $31.93 and a 200-day moving average price of $28.09. The company has a market cap of $4.61 billion, a P/E ratio of -16.16 and a beta of 2.00.

Insiders Place Their Bets

In other C3.ai news, CFO Hitesh Lath sold 11,339 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $42.00, for a total transaction of $476,238.00. Following the transaction, the chief financial officer now owns 851 shares of the company’s stock, valued at $35,742. The trade was a 93.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Stephen M. Ward, Jr. sold 125,000 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 $5,250,000.00. Following the completion of the sale, the director now directly owns 546,495 shares of the company’s stock, valued at approximately $22,952,790. The trade was a 18.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 644,988 shares of company stock valued at $27,597,453. 33.54% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in AI. Geode Capital Management LLC lifted its holdings 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 during the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in shares of C3.ai during the 2nd quarter worth about $3,465,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of 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 buying an additional 92,280 shares during the period. Hodges Capital Management Inc. acquired a new position in C3.ai in the 3rd quarter valued at about $1,955,000. Finally, Hsbc Holdings PLC raised its holdings in C3.ai by 679.8% in the 2nd quarter. Hsbc Holdings PLC now owns 87,092 shares of the company’s stock valued at $2,500,000 after acquiring an additional 75,923 shares during the period. 38.96% of the stock is owned by institutional investors and hedge funds.

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.