Insider Selling: C3.ai, Inc. (NYSE:AI) CFO Sells $21,035.00 in Stock

C3.ai, Inc. (NYSE:AI) CFO Hitesh Lath sold 601 shares of C3.ai stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $35.00, for a total transaction of $21,035.00. Following the completion of the transaction, the chief financial officer now directly owns 250 shares in the company, valued at approximately $8,750. This trade represents a 70.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Tuesday, December 17th, Hitesh Lath sold 3,949 shares of C3.ai stock. The stock was 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 Stock Up 6.1 %

Shares of C3.ai stock opened at $36.78 on Monday. C3.ai, Inc. has a 12-month low of $18.85 and a 12-month high of $45.08. The stock has a 50 day moving average price of $33.75 and a two-hundred day moving average price 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.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of New York Mellon Corp boosted its stake in C3.ai by 0.3% during 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 purchasing an additional 1,929 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in C3.ai by 5.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,434 shares of the company’s stock worth $650,000 after acquiring an additional 1,060 shares during the period. Principal Financial Group Inc. increased its position in C3.ai by 4.3% during the second quarter. Principal Financial Group Inc. now owns 11,165 shares of the company’s stock worth $323,000 after acquiring an additional 462 shares during the period. Concurrent Investment Advisors LLC acquired a new position in C3.ai during the 2nd quarter valued at $234,000. Finally, Versor Investments LP acquired a new stake in C3.ai in the 2nd quarter worth $348,000. 38.96% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Piper Sandler lifted their price target on C3.ai from $24.00 to $42.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Northland Securities raised their price target on shares of C3.ai from $35.00 to $45.00 and gave the stock an “outperform” rating in a report on Tuesday, December 10th. Canaccord Genuity Group upped their price objective on shares of C3.ai from $23.00 to $40.00 and gave the company a “hold” rating in a research note on Wednesday, December 11th. Morgan Stanley lifted their target price on shares of C3.ai from $21.00 to $32.00 and gave the company an “underweight” rating in a research note on Tuesday, December 10th. Finally, JPMorgan Chase & Co. downgraded shares of C3.ai from a “neutral” rating to an “underweight” rating and set a $28.00 price target on the stock. in a research note on Wednesday, December 11th. Five analysts have rated the stock with a sell rating, five have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $35.00.

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.