C3.ai (NYSE:AI) Stock Price Down 2.3% – Should You Sell?

Shares of C3.ai, Inc. (NYSE:AI) were down 2.3% on Tuesday . The company traded as low as $35.19 and last traded at $36.09. Approximately 1,820,104 shares were traded during trading, a decline of 52% from the average daily volume of 3,771,784 shares. The stock had previously closed at $36.93.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on AI shares. Canaccord Genuity Group lifted their price target on shares of C3.ai from $23.00 to $40.00 and gave the stock a “hold” rating in a research note on Wednesday, December 11th. JMP Securities lifted their price objective on shares of C3.ai from $40.00 to $55.00 and gave the stock a “market outperform” rating in a research report on Tuesday, December 10th. Needham & Company LLC reissued a “hold” rating on shares of C3.ai in a report on Tuesday, December 10th. Northland Securities lifted their price target on C3.ai from $35.00 to $45.00 and gave the stock an “outperform” rating in a report on Tuesday, December 10th. Finally, Piper Sandler increased their price objective on C3.ai from $24.00 to $42.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Five equities research analysts have rated the stock with a sell rating, five have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $35.00.

C3.ai Price Performance

The business’s 50-day moving average price is $34.29 and its 200-day moving average price is $28.60. The firm has a market capitalization of $4.30 billion, a PE ratio of -15.09 and a beta of 2.00.

Insider Activity

In other C3.ai news, Director Richard C. Levin sold 12,000 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $34.80, for a total value of $417,600.00. Following the completion of the transaction, the director now owns 161,664 shares in the company, valued at approximately $5,625,907.20. This represents a 6.91 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Stephen M. Ward, Jr. sold 125,000 shares of the business’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $42.00, for a total transaction of $5,250,000.00. Following the sale, the director now owns 546,495 shares in the company, valued at $22,952,790. The trade was a 18.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 668,721 shares of company stock valued at $28,425,151. Insiders own 33.54% of the company’s stock.

Institutional Trading of C3.ai

A number of institutional investors have recently added to or reduced their stakes in AI. Geode Capital Management LLC grew its holdings in C3.ai by 8.8% in the third quarter. Geode Capital Management LLC now owns 2,216,925 shares of the company’s stock valued at $53,728,000 after purchasing an additional 178,870 shares during the last quarter. Hodges Capital Management Inc. acquired a new stake in C3.ai in the 3rd quarter valued at about $1,955,000. State Street Corp grew its stake in C3.ai by 1.8% in the 3rd quarter. State Street Corp now owns 2,121,391 shares of the company’s stock valued at $51,401,000 after acquiring an additional 38,185 shares during the last quarter. Janus Henderson Group PLC increased its holdings 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 acquiring an additional 9,160 shares in the last quarter. Finally, Holocene Advisors LP raised its position in C3.ai by 98.4% during the third quarter. Holocene Advisors LP now owns 75,780 shares of the company’s stock worth $1,836,000 after acquiring an additional 37,594 shares during the last quarter. Hedge funds and other 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.