Insider Selling: C3.ai, Inc. (NYSE:AI) CFO Sells 3,949 Shares of Stock

C3.ai, Inc. (NYSE:AI) CFO Hitesh Lath sold 3,949 shares of the firm’s stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $42.36, for a total transaction of $167,279.64. Following the completion of the sale, the chief financial officer now directly owns 851 shares in the company, valued at approximately $36,048.36. This trade represents a 82.27 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Hitesh Lath also recently made the following trade(s):

• 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 Price Performance

Shares of NYSE:AI opened at $42.87 on Wednesday. C3.ai, Inc. has a 1-year low of $18.85 and a 1-year high of $45.08. The stock has a market cap of $5.45 billion, a P/E ratio of -19.40 and a beta of 2.00. The firm has a fifty day moving average price of $31.14 and a 200 day moving average price of $27.90.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on AI. Needham & Company LLC reiterated a “hold” rating on shares of C3.ai in a research note on Tuesday, December 10th. JMP Securities increased their price objective on C3.ai from $40.00 to $55.00 and gave the company a “market outperform” rating in a report on Tuesday, December 10th. Bank of America decreased their target price on C3.ai from $24.00 to $20.00 and set an “underperform” rating for the company in a research note on Thursday, September 5th. JPMorgan Chase & Co. downgraded C3.ai from a “neutral” rating to an “underweight” rating and set a $28.00 price target for the company. in a report on Wednesday, December 11th. Finally, Oppenheimer restated an “outperform” rating and set a $40.00 price objective on shares of C3.ai in a research report on Thursday, September 5th. Four 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat, C3.ai currently has an average rating of “Hold” and a consensus price target of $35.55.

Hedge Funds Weigh In On C3.ai

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC raised its position 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 worth $53,728,000 after buying an additional 178,870 shares during the last quarter. Hodges Capital Management Inc. purchased a new position in shares of C3.ai during the 3rd quarter worth approximately $1,955,000. State Street Corp boosted its stake in shares of C3.ai by 1.8% in the third 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 in the last quarter. Janus Henderson Group PLC grew its holdings in C3.ai by 21.3% during the third quarter. Janus Henderson Group PLC now owns 52,182 shares of the company’s stock worth $1,265,000 after acquiring an additional 9,160 shares during the period. Finally, Holocene Advisors LP grew its stake in shares of C3.ai by 98.4% during the 3rd quarter. Holocene Advisors LP now owns 75,780 shares of the company’s stock worth $1,836,000 after purchasing an additional 37,594 shares during the period. Hedge funds and other 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.