C3.ai, Inc. (NYSE:AI) Director Sells $5,250,000.00 in Stock

C3.ai, Inc. (NYSE:AI) Director Stephen M. Ward, Jr. sold 125,000 shares of the firm’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $42.00, for a total value of $5,250,000.00. Following the sale, the director now directly owns 546,495 shares of the company’s stock, valued at approximately $22,952,790. This represents a 18.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

C3.ai Stock Up 3.2 %

Shares of NYSE AI opened at $39.46 on Friday. The company has a market cap of $5.01 billion, a P/E ratio of -17.86 and a beta of 2.00. C3.ai, Inc. has a 52 week low of $18.85 and a 52 week high of $45.08. The business has a 50-day simple moving average of $30.08 and a two-hundred day simple moving average of $27.54.

Hedge Funds Weigh In On C3.ai

Hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC grew its position in C3.ai by 8.8% during the third 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 holdings in shares of C3.ai by 1.8% during 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 position in shares of C3.ai by 12.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 844,389 shares of the company’s stock worth $20,460,000 after purchasing an additional 92,280 shares during the last quarter. Bank of New York Mellon Corp raised its stake in C3.ai by 0.3% in the second quarter. Bank of New York Mellon Corp now owns 771,540 shares of the company’s stock valued at $22,344,000 after purchasing an additional 1,929 shares in the last quarter. Finally, Raymond James & Associates lifted its position in C3.ai by 11.5% during the second 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.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on AI. Northland Securities raised their price objective on shares of C3.ai from $35.00 to $45.00 and gave the stock an “outperform” rating in a report on Tuesday. 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 research note on Thursday, September 5th. Needham & Company LLC reiterated a “hold” rating on shares of C3.ai in a research note on Tuesday. StockNews.com upgraded C3.ai to a “sell” rating in a research note on Tuesday, November 26th. Finally, Oppenheimer restated an “outperform” rating and issued a $40.00 target price on shares of C3.ai in a research note on Thursday, September 5th. Four investment analysts have rated the stock with a sell rating, five have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $35.55.

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.