C3.ai, Inc. (NYSE:AI) Director Sells $191,850.00 in Stock

C3.ai, Inc. (NYSE:AI) Director John E. Hyten sold 5,000 shares of the business’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $38.37, for a total value of $191,850.00. Following the completion of the sale, the director now directly owns 263,843 shares of the company’s stock, valued at approximately $10,123,655.91. This trade represents a 1.86 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

C3.ai Trading Up 8.9 %

AI traded up $3.50 during midday trading on Monday, reaching $42.96. The company’s stock had a trading volume of 12,240,936 shares, compared to its average volume of 5,971,592. C3.ai, Inc. has a 1 year low of $18.85 and a 1 year high of $45.08. The stock’s 50-day moving average is $30.39 and its 200-day moving average is $27.70. The firm has a market capitalization of $5.46 billion, a price-to-earnings ratio of -19.38 and a beta of 2.00.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC raised 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 buying an additional 178,870 shares during the last quarter. Hodges Capital Management Inc. bought a new position in C3.ai in the 3rd quarter valued at approximately $1,955,000. State Street Corp boosted its stake in C3.ai by 1.8% during the 3rd quarter. State Street Corp now owns 2,121,391 shares of the company’s stock valued at $51,401,000 after purchasing an additional 38,185 shares during the last quarter. Janus Henderson Group PLC boosted its stake in C3.ai by 21.3% during the 3rd 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 last quarter. Finally, Holocene Advisors LP increased its holdings in shares of C3.ai by 98.4% in 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 in the last quarter. Institutional investors own 38.96% of the company’s stock.

Wall Street Analyst Weigh In

AI has been the topic of several recent analyst reports. Piper Sandler Companies restated a “neutral” rating and issued a $24.00 target price on shares of C3.ai in a report on Thursday, September 5th. JMP Securities increased their target price 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. Wedbush lowered their price target on C3.ai from $40.00 to $30.00 and set an “outperform” rating for the company in a research report on Thursday, September 5th. Morgan Stanley lifted their price objective on C3.ai from $21.00 to $32.00 and gave the stock an “underweight” rating in a research report on Tuesday, December 10th. Finally, Needham & Company LLC restated a “hold” rating on shares of C3.ai in a report on Tuesday, December 10th. Four equities research analysts have rated the stock with a sell rating, five have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, C3.ai currently has an average rating of “Hold” and an average price target of $35.55.

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.