Insider Selling: C3.ai, Inc. (NYSE:AI) VP Sells 11,132 Shares of Stock

C3.ai, Inc. (NYSE:AI) VP Merel Witteveen sold 11,132 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $34.95, for a total value of $389,063.40. Following the sale, the vice president now owns 4,142 shares of the company’s stock, valued at $144,762.90. This trade represents a 72.88 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

C3.ai Price Performance

AI traded up $0.24 during midday trading on Thursday, reaching $34.67. 3,609,250 shares of the company’s stock were exchanged, compared to its average volume of 6,033,838. C3.ai, Inc. has a 1-year low of $18.85 and a 1-year high of $45.08. The stock has a market capitalization of $4.47 billion, a PE ratio of -15.69 and a beta of 2.00. The business’s 50-day moving average price is $33.52 and its 200 day moving average price is $28.39.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC grew its holdings 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 worth $53,728,000 after buying an additional 178,870 shares in the last quarter. State Street Corp grew its stake in C3.ai by 1.8% in 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. Charles Schwab Investment Management Inc. raised its holdings in 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 last quarter. Bank of New York Mellon Corp lifted its stake in shares of C3.ai by 0.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 771,540 shares of the company’s stock worth $22,344,000 after purchasing an additional 1,929 shares during the period. Finally, Rhumbline Advisers boosted its holdings in shares of C3.ai by 0.5% during the second quarter. Rhumbline Advisers now owns 125,344 shares of the company’s stock worth $3,630,000 after purchasing an additional 572 shares during the last quarter. 38.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AI has been the subject of several recent analyst reports. Piper Sandler raised 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. Morgan Stanley raised their price objective on shares of C3.ai from $21.00 to $32.00 and gave the company an “underweight” rating in a research report on Tuesday, December 10th. Canaccord Genuity Group lifted their price objective on C3.ai from $23.00 to $40.00 and gave the company a “hold” rating in a report on Wednesday, December 11th. Oppenheimer reissued an “outperform” rating and set a $40.00 target price on shares of C3.ai in a research note on Thursday, September 5th. Finally, KeyCorp lowered C3.ai from a “sector weight” rating to an “underweight” rating and set a $29.00 price objective on the stock. in a report on Thursday, December 19th. Five research analysts have rated the stock with a sell rating, five have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, C3.ai has an average rating of “Hold” and a consensus price target 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.