Hitesh Lath Sells 11,339 Shares of C3.ai, Inc. (NYSE:AI) Stock

C3.ai, Inc. (NYSE:AI) CFO Hitesh Lath sold 11,339 shares of the stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $42.00, for a total transaction of $476,238.00. Following the sale, the chief financial officer now owns 851 shares of the company’s stock, valued at approximately $35,742. This represents a 93.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

C3.ai Stock Performance

Shares of AI opened at $38.24 on Friday. C3.ai, Inc. has a fifty-two week low of $18.85 and a fifty-two week high of $45.08. The firm’s 50-day simple moving average is $30.08 and its two-hundred day simple moving average is $27.54. The stock has a market cap of $4.86 billion, a PE ratio of -17.30 and a beta of 1.99.

Analysts Set New Price Targets

Several research firms have weighed in on AI. Morgan Stanley increased their price objective on C3.ai from $21.00 to $32.00 and gave the stock an “underweight” rating in a report on Tuesday. DA Davidson lifted their price target on shares of C3.ai from $20.00 to $35.00 and gave the company a “neutral” rating in a report on Thursday, December 5th. JMP Securities upped their price objective on shares of C3.ai from $40.00 to $55.00 and gave the stock a “market outperform” rating in a report on Tuesday. Needham & Company LLC reaffirmed a “hold” rating on shares of C3.ai in a research note on Tuesday. Finally, JPMorgan Chase & Co. downgraded shares of C3.ai from a “neutral” rating to an “underweight” rating and set a $28.00 price target for the company. in a research note on Wednesday. Four investment analysts have rated the stock with a sell rating, five have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $35.55.

Institutional Trading of C3.ai

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Comerica Bank grew its position in C3.ai by 305.1% during the 1st quarter. Comerica Bank now owns 1,203 shares of the company’s stock valued at $33,000 after purchasing an additional 906 shares during the last quarter. Cetera Advisors LLC bought a new stake in shares of C3.ai during the first quarter valued at approximately $465,000. ORG Partners LLC raised its holdings in C3.ai by 3,969.7% in the 2nd quarter. ORG Partners LLC now owns 4,436 shares of the company’s stock worth $127,000 after acquiring an additional 4,327 shares during the last quarter. Blue Trust Inc. lifted its position in C3.ai by 148.9% in the 2nd quarter. Blue Trust Inc. now owns 1,028 shares of the company’s stock valued at $28,000 after acquiring an additional 615 shares in the last quarter. Finally, Raymond James & Associates boosted its stake in C3.ai by 11.5% during the 2nd quarter. Raymond James & Associates now owns 201,262 shares of the company’s stock valued at $5,829,000 after purchasing an additional 20,753 shares during the last quarter. Hedge funds and other institutional investors own 38.96% of the company’s stock.

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.