C3.ai, Inc. (NYSE:AI) Director Sells $358,080.00 in Stock

C3.ai, Inc. (NYSE:AI) Director Richard C. Levin sold 12,000 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $29.84, for a total transaction of $358,080.00. Following the completion of the sale, the director now owns 161,664 shares in the company, valued at approximately $4,824,053.76. This trade represents a 6.91 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

C3.ai Stock Down 1.5 %

C3.ai stock opened at $33.68 on Friday. C3.ai, Inc. has a 52-week low of $18.85 and a 52-week high of $45.08. The firm has a market capitalization of $4.35 billion, a price-to-earnings ratio of -15.24 and a beta of 1.98. The firm has a 50-day moving average price of $35.35 and a two-hundred day moving average price of $29.07.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. JMP Securities boosted their price objective on C3.ai from $40.00 to $55.00 and gave the company a “market outperform” rating in a report on Tuesday, December 10th. Canaccord Genuity Group upped their price target on C3.ai from $23.00 to $40.00 and gave the company a “hold” rating in a research report on Wednesday, December 11th. 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 report on Wednesday, December 11th. Needham & Company LLC reiterated a “hold” rating on shares of C3.ai in a research note on Tuesday, December 10th. Finally, KeyCorp downgraded shares of C3.ai from a “sector weight” rating to an “underweight” rating and set a $29.00 price target on the stock. in a research report on Thursday, December 19th. Five analysts have rated the stock with a sell rating, five have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, C3.ai presently has an average rating of “Hold” and an average target price of $35.00.

Institutional Investors Weigh In On C3.ai

A number of hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC grew its holdings in 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. State Street Corp grew its stake in shares of C3.ai by 1.8% in the third quarter. State Street Corp now owns 2,121,391 shares of the company’s stock worth $51,401,000 after purchasing an additional 38,185 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of C3.ai by 10.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 933,139 shares of the company’s stock valued at $32,128,000 after purchasing an additional 88,750 shares during the period. Bank of New York Mellon Corp raised its stake in shares of C3.ai by 1.3% during the fourth quarter. Bank of New York Mellon Corp now owns 695,893 shares of the company’s stock valued at $23,960,000 after purchasing an additional 8,772 shares in the last quarter. Finally, Rhumbline Advisers raised its stake in shares of C3.ai by 39.4% during the fourth quarter. Rhumbline Advisers now owns 166,378 shares of the company’s stock valued at $5,728,000 after purchasing an additional 47,028 shares in the last quarter. Institutional investors own 38.96% of the company’s stock.

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.