C3.ai, Inc. (NYSE:AI) VP Merel Witteveen Sells 11,132 Shares

C3.ai, Inc. (NYSE:AI) VP Merel Witteveen sold 11,132 shares of the firm’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $34.95, for a total value of $389,063.40. Following the completion of the sale, the vice president now directly 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

C3.ai Stock Performance

Shares of NYSE:AI opened at $34.67 on Friday. The business’s 50-day simple moving average is $33.52 and its 200 day simple moving average is $28.39. The company has a market cap of $4.47 billion, a P/E ratio of -15.69 and a beta of 2.00. C3.ai, Inc. has a one year low of $18.85 and a one year high of $45.08.

Analyst Ratings Changes

AI has been the topic of several recent analyst reports. Northland Securities increased their price objective on shares of C3.ai from $35.00 to $45.00 and gave the stock an “outperform” rating in a report on Tuesday, December 10th. StockNews.com raised shares of C3.ai to a “sell” rating in a research note on Tuesday, November 26th. Morgan Stanley boosted their price objective on shares of C3.ai from $21.00 to $32.00 and gave the company an “underweight” rating in a research note on Tuesday, December 10th. Piper Sandler Companies reaffirmed a “neutral” rating and issued a $24.00 target price on shares of C3.ai in a research report on Thursday, September 5th. Finally, Bank of America lowered their price target on C3.ai from $24.00 to $20.00 and set an “underperform” rating for the company in a research report on Thursday, September 5th. 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 assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $35.00.

Institutional Trading of C3.ai

A number of hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC lifted its stake in shares of C3.ai by 8.8% in the third quarter. Geode Capital Management LLC now owns 2,216,925 shares of the company’s stock worth $53,728,000 after acquiring an additional 178,870 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in shares of C3.ai in the 2nd quarter valued at approximately $3,465,000. Charles Schwab Investment Management Inc. boosted its stake in shares of C3.ai by 12.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 844,389 shares of the company’s stock valued at $20,460,000 after buying an additional 92,280 shares during the last quarter. Hodges Capital Management Inc. acquired a new stake in shares of C3.ai during the third quarter worth approximately $1,955,000. Finally, Hsbc Holdings PLC grew its position in shares of C3.ai by 679.8% during the second quarter. Hsbc Holdings PLC now owns 87,092 shares of the company’s stock worth $2,500,000 after buying an additional 75,923 shares in 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.