Richard C. Levin Sells 12,000 Shares of C3.ai, Inc. (NYSE:AI) Stock

C3.ai, Inc. (NYSE:AI) Director Richard C. Levin sold 12,000 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were 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 directly owns 161,664 shares in the company, valued at approximately $5,625,907.20. This trade represents a 6.91 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

C3.ai Stock Performance

Shares of AI opened at $36.78 on Monday. C3.ai, Inc. has a 1 year low of $18.85 and a 1 year high of $45.08. The stock has a market capitalization of $4.75 billion, a PE ratio of -16.64 and a beta of 2.00. The stock has a 50-day simple moving average of $33.75 and a 200-day simple moving average of $28.44.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. JTC Employer Solutions Trustee Ltd acquired a new position in shares of C3.ai during the 3rd quarter worth about $25,000. Northwestern Mutual Wealth Management Co. boosted its holdings in C3.ai by 311.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,050 shares of the company’s stock valued at $30,000 after purchasing an additional 795 shares in the last quarter. Quest Partners LLC increased its stake in C3.ai by 9,033.3% in the third quarter. Quest Partners LLC now owns 1,644 shares of the company’s stock valued at $40,000 after purchasing an additional 1,626 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in C3.ai during the second quarter worth approximately $41,000. Finally, Arcadia Investment Management Corp MI purchased a new stake in shares of C3.ai during the 3rd quarter worth approximately $48,000. Hedge funds and other institutional investors own 38.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on AI shares. Needham & Company LLC reaffirmed a “hold” rating on shares of C3.ai in a research report on Tuesday, December 10th. JPMorgan Chase & Co. cut shares of C3.ai from a “neutral” rating to an “underweight” rating and set a $28.00 price objective for the company. in a research report on Wednesday, December 11th. Morgan Stanley lifted their target price on shares of C3.ai from $21.00 to $32.00 and gave the company an “underweight” rating in a report on Tuesday, December 10th. Northland Securities raised their price target on C3.ai from $35.00 to $45.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 10th. Finally, Canaccord Genuity Group boosted their price objective on C3.ai from $23.00 to $40.00 and gave the company a “hold” rating in a report on Wednesday, December 11th. Five 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 assigned a strong buy rating to the company’s stock. According to MarketBeat, C3.ai presently has a consensus 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.