C3.ai, Inc. (NYSE:AI) VP Sells $389,063.40 in Stock

C3.ai, Inc. (NYSE:AI) VP Merel Witteveen sold 11,132 shares of the stock in a transaction on Monday, December 30th. The shares were sold at an average price of $34.95, for a total transaction of $389,063.40. Following the completion of the sale, the vice president now owns 4,142 shares of the company’s stock, valued at approximately $144,762.90. This represents a 72.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

C3.ai Stock Up 6.1 %

Shares of NYSE:AI opened at $36.78 on Friday. C3.ai, Inc. has a 12-month low of $18.85 and a 12-month high of $45.08. The company’s 50 day moving average price is $33.75 and its two-hundred day moving average price is $28.44. The firm has a market cap of $4.75 billion, a PE ratio of -16.64 and a beta of 2.00.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. DA Davidson upgraded shares of C3.ai to a “hold” rating in a research note on Wednesday, December 18th. KeyCorp downgraded C3.ai from a “sector weight” rating to an “underweight” rating and set a $29.00 target price for the company. in a research note on Thursday, December 19th. StockNews.com upgraded C3.ai to a “sell” rating in a research note on Tuesday, November 26th. Piper Sandler lifted their price objective on shares of C3.ai from $24.00 to $42.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Finally, Needham & Company LLC reissued a “hold” rating on shares of C3.ai in a research report on Tuesday, December 10th. Five 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 company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $35.00.

Hedge Funds Weigh In On C3.ai

A number of hedge funds have recently added to or reduced their stakes in AI. Bank of New York Mellon Corp grew its stake in C3.ai by 0.3% during the second quarter. Bank of New York Mellon Corp now owns 771,540 shares of the company’s stock worth $22,344,000 after buying an additional 1,929 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of C3.ai by 5.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,434 shares of the company’s stock worth $650,000 after acquiring an additional 1,060 shares in the last quarter. Principal Financial Group Inc. increased its stake in C3.ai by 4.3% in the second quarter. Principal Financial Group Inc. now owns 11,165 shares of the company’s stock valued at $323,000 after acquiring an additional 462 shares during the last quarter. Concurrent Investment Advisors LLC acquired a new position in C3.ai during the second quarter valued at approximately $234,000. Finally, Versor Investments LP bought a new stake in C3.ai during the second quarter worth $348,000. 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.