C3.ai, Inc. (NYSE:AI) VP Merel Witteveen Sells 11,132 Shares

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

C3.ai Price Performance

Shares of C3.ai stock opened at $34.67 on Friday. C3.ai, Inc. has a 1-year low of $18.85 and a 1-year high of $45.08. The business’s fifty day moving average price is $33.52 and its two-hundred day moving average price is $28.39. The company has a market capitalization of $4.47 billion, a P/E ratio of -15.69 and a beta of 2.00.

Institutional Investors Weigh In On C3.ai

Several institutional investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp raised its holdings 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 purchasing an additional 1,929 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of C3.ai by 5.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,434 shares of the company’s stock valued at $650,000 after buying an additional 1,060 shares during the period. Principal Financial Group Inc. boosted its stake in C3.ai by 4.3% during the second quarter. Principal Financial Group Inc. now owns 11,165 shares of the company’s stock valued at $323,000 after buying an additional 462 shares in the last quarter. Concurrent Investment Advisors LLC acquired a new position in C3.ai during the second quarter worth about $234,000. Finally, Versor Investments LP bought a new stake in C3.ai in the second quarter worth about $348,000. Institutional investors and hedge funds own 38.96% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on AI. Needham & Company LLC reiterated a “hold” rating on shares of C3.ai in a research report on Tuesday, December 10th. DA Davidson raised shares of C3.ai to a “hold” rating in a report on Wednesday, December 18th. Northland Securities increased their target price on shares of C3.ai from $35.00 to $45.00 and gave the stock an “outperform” rating in a report on Tuesday, December 10th. Bank of America decreased their price target on shares of C3.ai from $24.00 to $20.00 and set an “underperform” rating for the company in a report on Thursday, September 5th. Finally, JPMorgan Chase & Co. downgraded shares of C3.ai from a “neutral” rating to an “underweight” rating and set a $28.00 price objective for the company. in a research report on Wednesday, December 11th. Five investment 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’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $35.00.

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.