Hitesh Lath Sells 3,949 Shares of C3.ai, Inc. (NYSE:AI) Stock

C3.ai, Inc. (NYSE:AI - Get Free Report) CFO Hitesh Lath sold 3,949 shares of the business's stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $42.36, for a total transaction of $167,279.64. Following the completion of the transaction, the chief financial officer now directly owns 851 shares in the company, valued at $36,048.36. This represents a 82.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Hitesh Lath also recently made the following trade(s):

• 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 transaction of $476,238.00.

C3.ai Stock Performance

NYSE AI traded down $0.07 during trading hours on Tuesday, reaching $42.87. The company's stock had a trading volume of 9,270,568 shares, compared to its average volume of 5,985,328. The company's 50-day moving average is $30.77 and its two-hundred day moving average is $27.80. C3.ai, Inc. has a fifty-two week low of $18.85 and a fifty-two week high of $45.08. The stock has a market cap of $5.45 billion, a PE ratio of -19.61 and a beta of 2.00.

Institutional Trading of C3.ai

Large investors have recently modified their holdings of the business. Geode Capital Management LLC lifted its holdings in C3.ai by 8.8% in the 3rd quarter. Geode Capital Management LLC now owns 2,216,925 shares of the company's stock valued at $53,728,000 after purchasing an additional 178,870 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in shares of C3.ai during the second quarter valued at approximately $3,465,000. Charles Schwab Investment Management Inc. boosted its position in C3.ai by 12.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 844,389 shares of the company's stock worth $20,460,000 after acquiring an additional 92,280 shares during the last quarter. Hodges Capital Management Inc. purchased a new stake in C3.ai in the 3rd quarter worth approximately $1,955,000. Finally, Hsbc Holdings PLC raised its holdings in C3.ai by 679.8% in the 2nd quarter. Hsbc Holdings PLC now owns 87,092 shares of the company's stock valued at $2,500,000 after acquiring an additional 75,923 shares during the last quarter. 38.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on AI shares. StockNews.com upgraded shares of C3.ai to a "sell" rating in a research report on Tuesday, November 26th. Northland Securities raised their price target on C3.ai from $35.00 to $45.00 and gave the company an "outperform" rating in a report on Tuesday, December 10th. Oppenheimer reaffirmed an "outperform" rating and set a $40.00 price objective on shares of C3.ai in a report on Thursday, September 5th. Canaccord Genuity Group raised their target price on C3.ai from $23.00 to $40.00 and gave the company a "hold" rating in a report on Wednesday, December 11th. Finally, DA Davidson upped their price target on shares of C3.ai from $20.00 to $35.00 and gave the stock a "neutral" rating in a research note on Thursday, December 5th. Four analysts have rated the stock with a sell rating, five have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $35.55.

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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