Hitesh Lath Sells 601 Shares of C3.ai, Inc. (NYSE:AI) Stock

C3.ai, Inc. (NYSE:AI) CFO Hitesh Lath sold 601 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $35.00, for a total value of $21,035.00. Following the completion of the transaction, the chief financial officer now directly owns 250 shares in the company, valued at $8,750. This represents a 70.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Hitesh Lath also recently made the following trade(s):

• On Tuesday, December 17th, Hitesh Lath sold 3,949 shares of C3.ai stock. The shares were sold at an average price of $42.36, for a total value of $167,279.64.
• On Monday, December 9th, Hitesh Lath sold 11,339 shares of C3.ai stock. The shares were sold at an average price of $42.00, for a total value of $476,238.00.

C3.ai Trading Up 6.1 %

Shares of AI stock opened at $36.78 on Friday. The company has a market capitalization of $4.75 billion, a P/E ratio of -16.64 and a beta of 2.00. The business’s 50 day moving average is $33.75 and its two-hundred day moving average is $28.44. C3.ai, Inc. has a 12-month low of $18.85 and a 12-month high of $45.08.

Hedge Funds Weigh In On C3.ai

Several hedge funds and other institutional investors have recently made changes to their positions in the company. American Century Companies Inc. lifted its position in shares of C3.ai by 2.1% in the second quarter. American Century Companies Inc. now owns 21,447 shares of the company’s stock valued at $621,000 after acquiring an additional 432 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of C3.ai by 3.4% in the third quarter. Victory Capital Management Inc. now owns 14,078 shares of the company’s stock valued at $341,000 after acquiring an additional 457 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of 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 purchasing an additional 462 shares during the last quarter. Rhumbline Advisers increased its holdings in shares of C3.ai by 0.5% in the second quarter. Rhumbline Advisers now owns 125,344 shares of the company’s stock valued at $3,630,000 after purchasing an additional 572 shares during the last quarter. Finally, EP Wealth Advisors LLC increased its holdings in shares of C3.ai by 5.9% in the second quarter. EP Wealth Advisors LLC now owns 10,840 shares of the company’s stock valued at $314,000 after purchasing an additional 601 shares during the last quarter. Hedge funds and other institutional investors own 38.96% of the company’s stock.

Analysts Set New Price Targets

AI has been the topic of a number of recent research reports. Canaccord Genuity Group upped their target price on C3.ai from $23.00 to $40.00 and gave the stock a “hold” rating in a research note on Wednesday, December 11th. Piper Sandler upped their target price on C3.ai from $24.00 to $42.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. JPMorgan Chase & Co. downgraded C3.ai from a “neutral” rating to an “underweight” rating and set a $28.00 target price on the stock. in a research note on Wednesday, December 11th. DA Davidson upgraded C3.ai to a “hold” rating in a research note on Wednesday, December 18th. Finally, Northland Securities upped their target price on C3.ai from $35.00 to $45.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 10th. Five equities research analysts have rated the stock with a sell rating, five have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, C3.ai currently has an average rating of “Hold” and a consensus price target of $35.00.

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.