Insider Selling: C3.ai, Inc. (NYSE:AI) Director Sells 499,700 Shares of 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 transaction of $21,512,085.00. Following the completion of the sale, the director now owns 10,000 shares of the company’s stock, valued at $430,500. The trade was a 98.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

C3.ai Stock Up 2.5 %

C3.ai stock opened at $36.34 on Friday. The business has a 50 day moving average price of $31.78 and a two-hundred day moving average price of $28.07. The stock has a market cap of $4.62 billion, a price-to-earnings ratio of -16.44 and a beta of 2.00. C3.ai, Inc. has a 12 month low of $18.85 and a 12 month high of $45.08.

Hedge Funds Weigh In On C3.ai

A number of hedge funds have recently modified their holdings of AI. Geode Capital Management LLC raised its holdings in shares of C3.ai by 8.8% in the 3rd 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. Susquehanna Fundamental Investments LLC acquired a new position in shares of C3.ai in the 2nd quarter worth approximately $3,465,000. Charles Schwab Investment Management Inc. raised 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 worth $20,460,000 after buying an additional 92,280 shares in the last quarter. Hodges Capital Management Inc. acquired a new position in shares of C3.ai in the 3rd quarter worth approximately $1,955,000. Finally, Hsbc Holdings PLC raised its holdings in shares of C3.ai by 679.8% in the 2nd quarter. Hsbc Holdings PLC now owns 87,092 shares of the company’s stock worth $2,500,000 after buying an additional 75,923 shares in the last quarter. 38.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AI has been the subject of a number of recent analyst reports. Northland Securities upped their price target on shares of C3.ai from $35.00 to $45.00 and gave the company an “outperform” rating in a report on Tuesday, December 10th. Morgan Stanley raised their target price on C3.ai from $21.00 to $32.00 and gave the company an “underweight” rating in a report on Tuesday, December 10th. JMP Securities upped their price target on C3.ai from $40.00 to $55.00 and gave the stock a “market outperform” rating in a report on Tuesday, December 10th. Oppenheimer restated an “outperform” rating and issued a $40.00 price objective on shares of C3.ai in a research note on Thursday, September 5th. Finally, Bank of America cut their target price on shares of C3.ai from $24.00 to $20.00 and set an “underperform” rating for the company in a research note on Thursday, September 5th. Five 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 issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average 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.