C3.ai, Inc. (NYSE:AI) CFO Hitesh Lath Sells 601 Shares

C3.ai, Inc. (NYSE:AI) CFO Hitesh Lath sold 601 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $35.00, for a total value of $21,035.00. Following the completion of the transaction, the chief financial officer now owns 250 shares of the company’s stock, valued at $8,750. The trade was a 70.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

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

• On Tuesday, December 17th, Hitesh Lath sold 3,949 shares of C3.ai stock. The shares were 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 Price Performance

Shares of C3.ai stock opened at $36.78 on Monday. The firm has a 50 day simple moving average of $33.75 and a 200 day simple moving average of $28.44. C3.ai, Inc. has a fifty-two week low of $18.85 and a fifty-two week high of $45.08. The firm has a market cap of $4.75 billion, a P/E ratio of -16.64 and a beta of 2.00.

Analyst Ratings Changes

A number of research analysts have commented on the stock. DA Davidson upgraded shares of C3.ai to a “hold” rating in a research note on Wednesday, December 18th. StockNews.com raised C3.ai to a “sell” rating in a research note on Tuesday, November 26th. 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, December 11th. Morgan Stanley lifted their price objective on C3.ai from $21.00 to $32.00 and gave the company an “underweight” rating in a report on Tuesday, December 10th. Finally, Piper Sandler upped their target price on shares of C3.ai from $24.00 to $42.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Five research analysts have rated the stock with a sell rating, five have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on 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

Several hedge funds and other institutional investors have recently made changes to their positions in AI. American Century Companies Inc. lifted its holdings in C3.ai by 2.1% in the second quarter. American Century Companies Inc. now owns 21,447 shares of the company’s stock valued at $621,000 after buying an additional 432 shares during the period. Victory Capital Management Inc. boosted its position in shares of C3.ai by 3.4% in the 3rd quarter. Victory Capital Management Inc. now owns 14,078 shares of the company’s stock worth $341,000 after purchasing an additional 457 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of C3.ai by 4.3% in the 2nd quarter. Principal Financial Group Inc. now owns 11,165 shares of the company’s stock worth $323,000 after purchasing an additional 462 shares during the last quarter. Rhumbline Advisers grew its stake in shares of C3.ai by 0.5% during the second quarter. Rhumbline Advisers now owns 125,344 shares of the company’s stock worth $3,630,000 after purchasing an additional 572 shares during the period. Finally, EP Wealth Advisors LLC increased its holdings in C3.ai by 5.9% in the second quarter. EP Wealth Advisors LLC now owns 10,840 shares of the company’s stock valued at $314,000 after purchasing an additional 601 shares during the last quarter. 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.