C3.ai, Inc. (NYSE:AI) CFO Hitesh Lath Sells 601 Shares

C3.ai, Inc. (NYSE:AI) CFO Hitesh Lath sold 601 shares of C3.ai stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $35.00, for a total transaction of $21,035.00. Following the completion of the sale, the chief financial officer now directly owns 250 shares of the company’s stock, valued at approximately $8,750. This trade represents a 70.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

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

• On Tuesday, December 17th, Hitesh Lath sold 3,949 shares of C3.ai stock. The shares were sold at an average price of $42.36, for a total value of $167,279.64.
• 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 value of $476,238.00.

C3.ai Price Performance

Shares of C3.ai stock opened at $36.78 on Friday. The stock has a fifty day moving average price of $33.75 and a 200-day moving average price of $28.44. The firm has a market cap of $4.75 billion, a PE ratio of -16.64 and a beta of 2.00. C3.ai, Inc. has a 1 year low of $18.85 and a 1 year high of $45.08.

Institutional Trading of C3.ai

A number of large investors have recently added to or reduced their stakes in AI. Bank of New York Mellon Corp grew its position 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 valued at $22,344,000 after acquiring an additional 1,929 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in 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 purchasing an additional 1,060 shares during the last quarter. Principal Financial Group Inc. grew its holdings 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 purchasing an additional 462 shares during the period. Concurrent Investment Advisors LLC purchased a new stake in C3.ai in the second quarter worth $234,000. Finally, Versor Investments LP bought a new stake in shares of C3.ai in the second quarter valued at $348,000. Hedge funds and other institutional investors own 38.96% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. JPMorgan Chase & Co. lowered C3.ai from a “neutral” rating to an “underweight” rating and set a $28.00 target price on the stock. in a research report on Wednesday, December 11th. 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 note on Tuesday, December 10th. Northland Securities upped 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. StockNews.com raised shares of C3.ai to a “sell” rating in a research report on Tuesday, November 26th. Finally, JMP Securities boosted their price objective on C3.ai from $40.00 to $55.00 and gave the stock a “market outperform” rating in a report on Tuesday, December 10th. Five investment analysts have rated the stock with a sell rating, five have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, C3.ai has an average rating of “Hold” and an average price target 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.