Jim H. Snabe Sells 499,700 Shares of C3.ai, Inc. (NYSE:AI) Stock

C3.ai, Inc. (NYSE:AI) Director Jim H. Snabe sold 499,700 shares of the business’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $43.05, for a total value of $21,512,085.00. Following the completion of the transaction, the director now owns 10,000 shares of the company’s stock, valued at $430,500. This represents a 98.04 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

C3.ai Stock Performance

Shares of NYSE AI opened at $36.34 on Friday. The stock has a 50 day moving average price of $31.78 and a 200 day moving average price of $28.08. The firm has a market capitalization of $4.62 billion, a price-to-earnings ratio of -16.44 and a beta of 2.00. C3.ai, Inc. has a 52-week low of $18.85 and a 52-week high of $45.08.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on AI shares. Bank of America lowered their price target on C3.ai from $24.00 to $20.00 and set an “underperform” rating on the stock in a report on Thursday, September 5th. JMP Securities raised their price objective on shares of C3.ai from $40.00 to $55.00 and gave the company a “market outperform” rating in a research report on Tuesday, December 10th. KeyCorp cut C3.ai from a “sector weight” rating to an “underweight” rating and set a $29.00 price target on the stock. in a report on Thursday. JPMorgan Chase & Co. cut 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. Finally, Canaccord Genuity Group increased their target price on C3.ai from $23.00 to $40.00 and gave the company a “hold” rating in a research report on Wednesday, December 11th. Five research analysts have rated the stock with a sell rating, five have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $35.00.

Hedge Funds Weigh In On C3.ai

A number of hedge funds and other institutional investors have recently made changes to their positions in AI. Geode Capital Management LLC boosted its stake in shares of C3.ai by 8.8% during the third quarter. Geode Capital Management LLC now owns 2,216,925 shares of the company’s stock valued at $53,728,000 after purchasing an additional 178,870 shares in the last quarter. State Street Corp boosted its position 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 acquiring an additional 38,185 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of C3.ai by 12.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 844,389 shares of the company’s stock valued at $20,460,000 after acquiring an additional 92,280 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of C3.ai by 0.3% in 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 acquiring an additional 1,929 shares during the period. Finally, Raymond James & Associates raised its position in shares of C3.ai by 11.5% in the 2nd quarter. Raymond James & Associates now owns 201,262 shares of the company’s stock worth $5,829,000 after acquiring an additional 20,753 shares in the last quarter. Institutional investors own 38.96% of the company’s stock.

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.