Insider Selling: C3.ai, Inc. (NYSE:AI) VP Sells 11,132 Shares of Stock

C3.ai, Inc. (NYSE:AI) VP Merel Witteveen sold 11,132 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at approximately $144,762.90. The trade was a 72.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

C3.ai Stock Up 6.1 %

Shares of NYSE AI opened at $36.78 on Friday. The company has a market capitalization of $4.75 billion, a PE ratio of -16.64 and a beta of 2.00. C3.ai, Inc. has a twelve month low of $18.85 and a twelve month high of $45.08. The firm has a fifty day simple moving average of $33.75 and a 200 day simple moving average of $28.44.

Wall Street Analyst Weigh In

A number of analysts have weighed in on AI shares. Northland Securities boosted their target price on shares of C3.ai from $35.00 to $45.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 10th. JMP Securities upped their target price on C3.ai from $40.00 to $55.00 and gave the stock a “market outperform” rating in a report 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 for the company. in a research report on Wednesday, December 11th. Morgan Stanley upped their price objective on C3.ai from $21.00 to $32.00 and gave the company an “underweight” rating in a research note on Tuesday, December 10th. Finally, Piper Sandler lifted their target price 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. Five investment analysts have rated the stock with a sell rating, five have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $35.00.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in AI. JTC Employer Solutions Trustee Ltd bought a new stake in shares of C3.ai during the 3rd quarter valued at about $25,000. Northwestern Mutual Wealth Management Co. grew its position in shares of C3.ai by 311.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,050 shares of the company’s stock worth $30,000 after buying an additional 795 shares during the period. Quest Partners LLC increased its stake in shares of C3.ai by 9,033.3% in the 3rd quarter. Quest Partners LLC now owns 1,644 shares of the company’s stock valued at $40,000 after acquiring an additional 1,626 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of C3.ai during the 2nd quarter valued at $41,000. Finally, Arcadia Investment Management Corp MI bought a new position in C3.ai during the third quarter worth $48,000. 38.96% of the stock is owned by institutional investors.

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.