C3.ai, Inc. (NYSE:AI) Director Jim H. Snabe Sells 499,700 Shares

C3.ai, Inc. (NYSE:AI - Get Free Report) Director Jim H. Snabe sold 499,700 shares of the stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $43.05, for a total transaction of $21,512,085.00. Following the transaction, the director now directly owns 10,000 shares in the company, valued at approximately $430,500. This represents a 98.04 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

C3.ai Price Performance

Shares of NYSE AI traded down $4.24 during midday trading on Thursday, hitting $35.45. 16,105,735 shares of the company's stock were exchanged, compared to its average volume of 6,049,832. C3.ai, Inc. has a twelve month low of $18.85 and a twelve month high of $45.08. The firm has a market cap of $4.50 billion, a P/E ratio of -16.04 and a beta of 2.00. The stock's 50 day moving average price is $31.41 and its 200-day moving average price is $27.98.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Blue Trust Inc. lifted its stake in shares of C3.ai by 148.9% in the 2nd quarter. Blue Trust Inc. now owns 1,028 shares of the company's stock worth $28,000 after acquiring an additional 615 shares during the period. Raymond James & Associates lifted its position in C3.ai by 11.5% in the second quarter. Raymond James & Associates now owns 201,262 shares of the company's stock worth $5,829,000 after purchasing an additional 20,753 shares during the period. Nisa Investment Advisors LLC increased its position in shares of C3.ai by 10.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 22,335 shares of the company's stock valued at $647,000 after purchasing an additional 2,187 shares during the period. Bank of New York Mellon Corp raised its stake in shares of C3.ai by 0.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 771,540 shares of the company's stock worth $22,344,000 after buying an additional 1,929 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of C3.ai by 5.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,434 shares of the company's stock valued at $650,000 after buying an additional 1,060 shares during the period. 38.96% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently issued reports on AI. Bank of America lowered their target price on C3.ai from $24.00 to $20.00 and set an "underperform" rating for the company in a research note on Thursday, September 5th. Morgan Stanley raised their target price on C3.ai from $21.00 to $32.00 and gave the company an "underweight" rating in a research note on Tuesday, December 10th. Oppenheimer reissued an "outperform" rating and issued a $40.00 price target on shares of C3.ai in a report on Thursday, September 5th. StockNews.com upgraded shares of C3.ai to a "sell" rating in a research note on Tuesday, November 26th. Finally, DA Davidson raised C3.ai to a "hold" rating in a report on Wednesday. Five analysts have rated the stock with a sell rating, five have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average 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.

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