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

C3.ai, Inc. (NYSE:AI) Director Jim H. Snabe sold 499,700 shares of the firm’s stock in a transaction that occurred on Tuesday, December 17th. The shares were 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 approximately $430,500. The trade was a 98.04 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

C3.ai Stock Performance

NYSE AI opened at $35.45 on Friday. The business’s fifty day moving average is $31.59 and its 200 day moving average is $28.03. C3.ai, Inc. has a fifty-two week low of $18.85 and a fifty-two week high of $45.08. The company has a market capitalization of $4.50 billion, a PE ratio of -16.04 and a beta of 2.00.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Blue Trust Inc. boosted its holdings in C3.ai by 148.9% in the 2nd quarter. Blue Trust Inc. now owns 1,028 shares of the company’s stock worth $28,000 after buying an additional 615 shares during the period. JTC Employer Solutions Trustee Ltd purchased a new stake in shares of C3.ai during the third quarter worth about $25,000. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of C3.ai by 311.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,050 shares of the company’s stock worth $30,000 after buying an additional 795 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of C3.ai during the 2nd quarter valued at about $41,000. Finally, Quest Partners LLC grew its position in shares of C3.ai by 9,033.3% during the third quarter. Quest Partners LLC now owns 1,644 shares of the company’s stock valued at $40,000 after purchasing an additional 1,626 shares in the last quarter. 38.96% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

AI has been the subject of a number of recent research reports. Bank of America lowered their price target on shares of C3.ai from $24.00 to $20.00 and set an “underperform” rating for the company in a research report on Thursday, September 5th. Wedbush lowered their target price on shares of C3.ai from $40.00 to $30.00 and set an “outperform” rating for the company in a report on Thursday, September 5th. DA Davidson upgraded C3.ai to a “hold” rating in a research note on Wednesday. Piper Sandler upped their target price on shares of C3.ai from $24.00 to $42.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Finally, Needham & Company LLC reissued a “hold” rating on shares of C3.ai in a research report on Tuesday, December 10th. Five research analysts have rated the stock with a sell rating, five have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company 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.