Hitesh Lath Sells 3,949 Shares of C3.ai, Inc. (NYSE:AI) Stock

C3.ai, Inc. (NYSE:AI) CFO Hitesh Lath sold 3,949 shares of the stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $42.36, for a total transaction of $167,279.64. Following the transaction, the chief financial officer now owns 851 shares in the company, valued at approximately $36,048.36. This trade represents a 82.27 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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

• On Monday, December 9th, Hitesh Lath sold 11,339 shares of C3.ai stock. The stock was sold at an average price of $42.00, for a total transaction of $476,238.00.

C3.ai Price Performance

NYSE AI opened at $39.69 on Thursday. The company’s fifty day moving average is $31.41 and its two-hundred day moving average is $27.98. C3.ai, Inc. has a 52-week low of $18.85 and a 52-week high of $45.08. The firm has a market capitalization of $5.04 billion, a price-to-earnings ratio of -17.96 and a beta of 2.00.

Institutional Investors Weigh In On C3.ai

A number of institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its holdings in C3.ai by 8.8% in the 3rd quarter. Geode Capital Management LLC now owns 2,216,925 shares of the company’s stock valued at $53,728,000 after acquiring an additional 178,870 shares in the last quarter. State Street Corp raised its stake in shares of C3.ai by 1.8% in the third 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 in the last quarter. Charles Schwab Investment Management Inc. lifted its position in C3.ai by 12.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 844,389 shares of the company’s stock worth $20,460,000 after purchasing an additional 92,280 shares during the period. Bank of New York Mellon Corp boosted its stake in C3.ai by 0.3% during the second quarter. Bank of New York Mellon Corp now owns 771,540 shares of the company’s stock worth $22,344,000 after buying an additional 1,929 shares in the last quarter. Finally, Raymond James & Associates increased its holdings in C3.ai by 11.5% in the 2nd quarter. Raymond James & Associates now owns 201,262 shares of the company’s stock valued at $5,829,000 after buying an additional 20,753 shares during the period. 38.96% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. JMP Securities raised their target price on C3.ai from $40.00 to $55.00 and gave the company a “market outperform” rating in a report on Tuesday, December 10th. Canaccord Genuity Group raised their price objective on C3.ai from $23.00 to $40.00 and gave the company a “hold” rating in a research note on Wednesday, December 11th. Oppenheimer reaffirmed an “outperform” rating and set a $40.00 target price on shares of C3.ai in a research report on Thursday, September 5th. JPMorgan Chase & Co. downgraded C3.ai from a “neutral” rating to an “underweight” rating and set a $28.00 price target on the stock. in a report on Wednesday, December 11th. Finally, Piper Sandler Companies restated a “neutral” rating and issued a $24.00 price objective on shares of C3.ai in a research note on Thursday, September 5th. Four equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus 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.