C3.ai, Inc. (NYSE:AI) Director Jim H. Snabe Sells 499,700 Shares

C3.ai, Inc. (NYSE:AI) Director Jim H. Snabe sold 499,700 shares of C3.ai stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $43.05, for a total transaction of $21,512,085.00. Following the completion of the transaction, the director now owns 10,000 shares in the company, valued at approximately $430,500. This trade represents a 98.04 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

C3.ai Price Performance

Shares of AI stock traded down $4.24 on Thursday, hitting $35.45. The company’s stock had a trading volume of 16,105,735 shares, compared to its average volume of 6,049,832. The stock has a market capitalization of $4.50 billion, a price-to-earnings ratio of -16.04 and a beta of 2.00. C3.ai, Inc. has a fifty-two week low of $18.85 and a fifty-two week high of $45.08. The firm’s fifty day moving average price is $31.41 and its 200-day moving average price is $27.98.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Canaccord Genuity Group boosted their target price on C3.ai from $23.00 to $40.00 and gave the stock a “hold” rating in a research report on Wednesday, December 11th. KeyCorp downgraded C3.ai from a “sector weight” rating to an “underweight” rating and set a $29.00 price target on the stock. in a report on Thursday. Needham & Company LLC restated a “hold” rating on shares of C3.ai in a research report on Tuesday, December 10th. Bank of America dropped their target price on C3.ai from $24.00 to $20.00 and set an “underperform” rating on the stock in a report on Thursday, September 5th. Finally, Morgan Stanley boosted their price objective on shares of C3.ai from $21.00 to $32.00 and gave the company an “underweight” rating in a research report on Tuesday, December 10th. Five equities research analysts have rated the stock with a sell rating, five have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $35.00.

Institutional Trading of C3.ai

Several large investors have recently made changes to their positions in the stock. Geode Capital Management LLC grew its stake 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 valued at $53,728,000 after buying an additional 178,870 shares during the last quarter. Hodges Capital Management Inc. bought a new position in shares of C3.ai in the third quarter worth about $1,955,000. State Street Corp lifted its position in shares of C3.ai by 1.8% during the 3rd 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 during the last quarter. Janus Henderson Group PLC boosted its stake in C3.ai by 21.3% during the 3rd quarter. Janus Henderson Group PLC now owns 52,182 shares of the company’s stock valued at $1,265,000 after purchasing an additional 9,160 shares during the period. Finally, Holocene Advisors LP grew its holdings in C3.ai by 98.4% in the 3rd quarter. Holocene Advisors LP now owns 75,780 shares of the company’s stock valued at $1,836,000 after buying an additional 37,594 shares during the last quarter. 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.