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 business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $35.00, for a total value of $21,035.00. Following the transaction, the chief financial officer now owns 250 shares of the company’s stock, valued at approximately $8,750. The trade was a 70.62 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through 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 %

AI opened at $36.78 on Friday. The stock has a fifty day moving average price of $33.75 and a 200-day moving average price of $28.44. C3.ai, Inc. has a 12 month low of $18.85 and a 12 month high of $45.08. The firm has a market cap of $4.75 billion, a price-to-earnings ratio of -16.64 and a beta of 2.00.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. increased its position in 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 in the last quarter. PDT Partners LLC acquired a new position in C3.ai during the 3rd quarter valued at about $1,624,000. Global Assets Advisory LLC acquired a new position in C3.ai during the 3rd quarter valued at about $743,000. Janney Montgomery Scott LLC acquired a new position in C3.ai during the 3rd quarter valued at about $785,000. Finally, Intech Investment Management LLC acquired a new position in C3.ai during the 3rd quarter valued at about $859,000. 38.96% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have weighed in on AI. Piper Sandler upped their target price on C3.ai from $24.00 to $42.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Morgan Stanley upped their target price on C3.ai from $21.00 to $32.00 and gave the stock an “underweight” rating in a report on Tuesday, December 10th. StockNews.com upgraded C3.ai to a “sell” rating in a report on Tuesday, November 26th. DA Davidson upgraded C3.ai to a “hold” rating in a report on Wednesday, December 18th. Finally, KeyCorp cut C3.ai from a “sector weight” rating to an “underweight” rating and set a $29.00 target price for the company. in a report on Thursday, December 19th. Five research analysts have rated the stock with a sell rating, five have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, C3.ai currently has an average rating of “Hold” and an average target price 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.