C3.ai (NYSE:AI) Trading Down 0.7% – Time to Sell?

C3.ai, Inc. (NYSE:AI)’s stock price traded down 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 mid-day 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 Analyst Weigh In

A number of research firms recently issued reports on AI. Piper Sandler lifted their target price on C3.ai from $24.00 to $42.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Needham & Company LLC reaffirmed a “hold” rating on shares of C3.ai in a research report on Tuesday, December 10th. JMP Securities upped their target price on shares of C3.ai from $40.00 to $55.00 and gave the stock a “market outperform” rating in a research note on Tuesday, December 10th. Wedbush reduced their target price on shares of C3.ai from $40.00 to $30.00 and set an “outperform” rating on the stock in a report on Thursday, September 5th. Finally, Northland Securities raised their target price on C3.ai from $35.00 to $45.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 10th. Five equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, C3.ai currently has a consensus rating of “Hold” and a consensus target price of $35.00.

C3.ai Stock Performance

The business has a 50-day simple moving average of $31.78 and a two-hundred day simple moving average of $28.05. The company has a market capitalization of $4.60 billion, a price-to-earnings ratio of -16.13 and a beta of 2.00.

Insider Buying and Selling

In other C3.ai news, Director John E. Hyten sold 5,000 shares of the business’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $38.37, for a total transaction of $191,850.00. Following the sale, the director now directly owns 263,843 shares in the company, valued at approximately $10,123,655.91. The trade was a 1.86 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Hitesh Lath sold 11,339 shares of the stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $42.00, for a total transaction of $476,238.00. Following the completion of the transaction, the chief financial officer now owns 851 shares of the company’s stock, valued at $35,742. This represents a 93.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 644,988 shares of company stock valued at $27,597,453 over the last three months. 33.54% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its position in C3.ai by 8.8% during 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 in the last quarter. Hodges Capital Management Inc. acquired a new position in C3.ai in the third quarter valued at $1,955,000. State Street Corp lifted its holdings in shares of C3.ai by 1.8% during the 3rd quarter. State Street Corp now owns 2,121,391 shares of the company’s stock worth $51,401,000 after acquiring an additional 38,185 shares during the period. Janus Henderson Group PLC grew its holdings in C3.ai by 21.3% in the third quarter. Janus Henderson Group PLC now owns 52,182 shares of the company’s stock valued at $1,265,000 after purchasing an additional 9,160 shares during the period. Finally, Holocene Advisors LP raised its stake in C3.ai by 98.4% during the third 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. 38.96% of the stock is currently owned by institutional investors and hedge funds.

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.