C3.ai (NYSE:AI) Stock Price Down 6.9% - Time to Sell?

C3.ai, Inc. (NYSE:AI - Get Free Report) traded down 6.9% during mid-day trading on Thursday . The company traded as low as $33.01 and last traded at $33.34. 5,192,963 shares were traded during trading, an increase of 11% from the average session volume of 4,663,776 shares. The stock had previously closed at $35.82.

Analyst Ratings Changes

Several equities research analysts have weighed in on AI shares. StockNews.com raised C3.ai to a "sell" rating in a research report on Tuesday, November 26th. Morgan Stanley lifted their price target on C3.ai from $21.00 to $32.00 and gave the company an "underweight" rating in a research report on Tuesday, December 10th. KeyCorp lowered C3.ai from a "sector weight" rating to an "underweight" rating and set a $29.00 price objective on the stock. in a research report on Thursday, December 19th. JMP Securities lifted their target price on shares of C3.ai from $40.00 to $55.00 and gave the company a "market outperform" rating in a report on Tuesday, December 10th. Finally, Northland Securities increased their price target 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. Five investment analysts have rated the stock with a sell rating, five have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $35.00.

C3.ai Stock Performance

The company has a 50 day simple moving average of $34.47 and a 200 day simple moving average of $28.63. The company has a market capitalization of $4.30 billion, a PE ratio of -15.09 and a beta of 2.00.

Insider Buying and Selling

In other news, CFO Hitesh Lath sold 11,339 shares of the company's stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $42.00, for a total value of $476,238.00. Following the completion of the sale, the chief financial officer now directly owns 851 shares in the company, valued at $35,742. This represents a 93.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Stephen M. Ward, Jr. sold 125,000 shares of C3.ai stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $42.00, for a total value of $5,250,000.00. Following the transaction, the director now owns 546,495 shares in the company, valued at approximately $22,952,790. The trade was a 18.62 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 668,721 shares of company stock worth $28,425,151. 33.54% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On C3.ai

Hedge funds and other institutional investors have recently bought and sold shares of the company. American Century Companies Inc. boosted its stake in C3.ai by 2.1% during the second quarter. American Century Companies Inc. now owns 21,447 shares of the company's stock worth $621,000 after buying an additional 432 shares during the period. Victory Capital Management Inc. boosted its position in shares of C3.ai by 3.4% during the 3rd quarter. Victory Capital Management Inc. now owns 14,078 shares of the company's stock worth $341,000 after purchasing an additional 457 shares during the period. Principal Financial Group Inc. increased its holdings in C3.ai by 4.3% in the 2nd quarter. Principal Financial Group Inc. now owns 11,165 shares of the company's stock valued at $323,000 after purchasing an additional 462 shares during the last quarter. Rhumbline Advisers raised its position in C3.ai by 0.5% in the second quarter. Rhumbline Advisers now owns 125,344 shares of the company's stock valued at $3,630,000 after purchasing an additional 572 shares during the period. Finally, EP Wealth Advisors LLC lifted its stake in C3.ai by 5.9% during the second quarter. EP Wealth Advisors LLC now owns 10,840 shares of the company's stock worth $314,000 after purchasing an additional 601 shares in the last quarter. 38.96% of the stock is currently owned by institutional investors and hedge funds.

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.