Insider Selling: C3.ai, Inc. (NYSE:AI) Director Sells 12,000 Shares of Stock

C3.ai, Inc. (NYSE:AI) Director Richard C. Levin sold 12,000 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $34.80, for a total transaction of $417,600.00. Following the completion of the transaction, the director now directly owns 161,664 shares in the company, valued at $5,625,907.20. This represents a 6.91 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

C3.ai Stock Up 6.1 %

NYSE AI traded up $2.11 on Friday, reaching $36.78. 4,853,270 shares of the stock traded hands, compared to its average volume of 4,235,885. C3.ai, Inc. has a 12 month low of $18.85 and a 12 month high of $45.08. The company has a market cap of $4.75 billion, a price-to-earnings ratio of -16.64 and a beta of 2.00. The firm’s fifty day simple moving average is $33.75 and its 200 day simple moving average is $28.44.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of AI. Geode Capital Management LLC raised its holdings in shares of C3.ai by 8.8% during the third quarter. Geode Capital Management LLC now owns 2,216,925 shares of the company’s stock valued at $53,728,000 after acquiring an additional 178,870 shares during the period. Hodges Capital Management Inc. acquired a new stake in shares of C3.ai during the 3rd quarter valued at $1,955,000. State Street Corp grew its stake in C3.ai by 1.8% in the third quarter. State Street Corp now owns 2,121,391 shares of the company’s stock valued at $51,401,000 after purchasing an additional 38,185 shares in the last quarter. Janus Henderson Group PLC raised its position in C3.ai by 21.3% during the third quarter. Janus Henderson Group PLC now owns 52,182 shares of the company’s stock valued at $1,265,000 after acquiring an additional 9,160 shares in the last quarter. Finally, Holocene Advisors LP lifted its stake in C3.ai by 98.4% in the third quarter. Holocene Advisors LP now owns 75,780 shares of the company’s stock valued at $1,836,000 after acquiring an additional 37,594 shares during the last quarter. Institutional investors own 38.96% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on AI shares. Morgan Stanley raised their price target on C3.ai from $21.00 to $32.00 and gave the stock an “underweight” rating in a report on Tuesday, December 10th. JMP Securities raised their target price on C3.ai from $40.00 to $55.00 and gave the company a “market outperform” rating in a research note on Tuesday, December 10th. DA Davidson upgraded shares of C3.ai to a “hold” rating in a research report on Wednesday, December 18th. Oppenheimer reiterated an “outperform” rating and issued a $40.00 price objective on shares of C3.ai in a research report on Thursday, September 5th. Finally, Bank of America reduced their price objective on C3.ai from $24.00 to $20.00 and set an “underperform” rating for the company in a research report on Thursday, September 5th. Five equities research analysts have rated the stock with a sell rating, five have assigned 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 stock has an average rating of “Hold” and a consensus price target of $35.00.

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.