C3.ai (NYSE:AI) Stock Price Down 0.7% - Time to Sell?

C3.ai, Inc. (NYSE:AI - Get Free Report)'s share price traded down 0.7% during mid-day trading on Monday . The stock traded as low as $35.45 and last traded at $36.10. 1,433,209 shares were traded during trading, a decline of 76% from the average session volume of 6,058,874 shares. The stock had previously closed at $36.34.

Analyst Ratings Changes

Several equities research analysts recently weighed in on AI shares. Northland Securities boosted their target price on C3.ai from $35.00 to $45.00 and gave the stock an "outperform" rating in a report on Tuesday, December 10th. JPMorgan Chase & Co. cut C3.ai from a "neutral" rating to an "underweight" rating and set a $28.00 price target for the company. in a report on Wednesday, December 11th. Wedbush dropped their target price on shares of C3.ai from $40.00 to $30.00 and set an "outperform" rating for the company in a research note on Thursday, September 5th. DA Davidson raised C3.ai to a "hold" rating in a research note on Wednesday, December 18th. Finally, Oppenheimer reissued an "outperform" rating and set a $40.00 price target on shares of C3.ai in a research report on Thursday, September 5th. Five equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $35.00.

C3.ai Price Performance

The firm has a market cap of $4.58 billion, a PE ratio of -16.05 and a beta of 2.00. The stock's fifty day simple moving average is $31.93 and its 200-day simple moving average is $28.09.

Insider Transactions at C3.ai

In other news, CFO Hitesh Lath sold 3,949 shares of the stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $42.36, for a total value of $167,279.64. Following the completion of the transaction, the chief financial officer now owns 851 shares in the company, valued at $36,048.36. This trade represents a 82.27 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John E. Hyten sold 5,000 shares of the company's stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $38.37, for a total value of $191,850.00. Following the completion of the sale, the director now directly owns 263,843 shares in the company, valued at approximately $10,123,655.91. The trade was a 1.86 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 644,988 shares of company stock valued at $27,597,453. Corporate insiders own 33.54% of the company's stock.

Institutional Investors Weigh In On C3.ai

Institutional investors and hedge funds have recently bought and sold shares of the business. JTC Employer Solutions Trustee Ltd acquired a new position in C3.ai during the third quarter valued at approximately $25,000. Blue Trust Inc. grew its stake in C3.ai by 148.9% during the second quarter. Blue Trust Inc. now owns 1,028 shares of the company's stock worth $28,000 after buying an additional 615 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake 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 worth $30,000 after purchasing an additional 795 shares in the last quarter. Quest Partners LLC increased its position in 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. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in C3.ai in the 2nd quarter valued at $41,000. Institutional investors and hedge funds own 38.96% of the company's stock.

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.