Merel Witteveen Sells 11,132 Shares of C3.ai, Inc. (NYSE:AI) Stock

C3.ai, Inc. (NYSE:AI) VP Merel Witteveen sold 11,132 shares of the stock in a transaction on Monday, December 30th. The shares were sold at an average price of $34.95, for a total value of $389,063.40. Following the completion of the transaction, the vice president now owns 4,142 shares of the company’s stock, valued at $144,762.90. The trade was a 72.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

C3.ai Price Performance

NYSE AI opened at $36.78 on Friday. C3.ai, Inc. has a one year low of $18.85 and a one year high of $45.08. The business has a 50 day simple moving average of $33.75 and a 200 day simple moving average of $28.44. The stock has a market capitalization of $4.75 billion, a P/E ratio of -16.64 and a beta of 2.00.

Analyst Ratings Changes

AI has been the subject of several research reports. Canaccord Genuity Group increased their target price on C3.ai from $23.00 to $40.00 and gave the company a “hold” rating in a research report on Wednesday, December 11th. Northland Securities lifted their target price on shares of C3.ai from $35.00 to $45.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 10th. 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 research report on Tuesday, December 10th. JMP Securities lifted their price target on shares of C3.ai from $40.00 to $55.00 and gave the stock a “market outperform” rating in a report on Tuesday, December 10th. Finally, Piper Sandler increased their price objective on C3.ai from $24.00 to $42.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Five equities 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 issued a strong buy rating to the company. According to data from MarketBeat.com, C3.ai has a consensus rating of “Hold” and a consensus price target of $35.00.

Institutional Trading of C3.ai

Several hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC grew its holdings in C3.ai by 8.8% in the third quarter. Geode Capital Management LLC now owns 2,216,925 shares of the company’s stock worth $53,728,000 after purchasing an additional 178,870 shares during the period. State Street Corp grew its stake in shares of C3.ai by 1.8% in the 3rd quarter. State Street Corp now owns 2,121,391 shares of the company’s stock valued at $51,401,000 after buying an additional 38,185 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of C3.ai by 12.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 844,389 shares of the company’s stock valued at $20,460,000 after buying an additional 92,280 shares during the period. Bank of New York Mellon Corp increased its position in C3.ai by 0.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 771,540 shares of the company’s stock valued at $22,344,000 after buying an additional 1,929 shares in the last quarter. Finally, Rhumbline Advisers raised its stake in C3.ai by 0.5% during the 2nd quarter. Rhumbline Advisers now owns 125,344 shares of the company’s stock worth $3,630,000 after buying an additional 572 shares during the period. Institutional investors own 38.96% of the company’s stock.

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.