C3.ai Director Sells $191,850 in Stock

C3.ai, Inc. (NYSE:AI - Get Free Report) recently witnessed a significant transaction by its director, John E. Hyten. On Thursday, December 12th, Hyten sold 5,000 shares of the company’s stock. The shares were sold at an average price of $38.37, totaling $191,850. Following this sale, Hyten now holds 263,843 shares in C3.ai, which are valued at approximately $10,123,655.91. This transaction marked a 1.86% reduction in his total ownership of the stock. The details of the sale were reported in a legal filing with the SEC, available for public viewing.

C3.ai Stock Performance

On December 12th, during midday trading, C3.ai saw its stock rise by $3.50, reaching a value of $42.96. The trading volume for that day reached 12,240,936 shares, significantly higher than the average volume of 5,971,592 shares. Over the past year, C3.ai’s stock has fluctuated between a low of $18.85 and a high of $45.08. The company's 50-day moving average stands at $30.39, while the 200-day moving average is at $27.70. Currently, C3.ai has a market capitalization of $5.46 billion and a price-to-earnings ratio of -19.38, with a beta of 2.00, indicating its volatility in the market.

Institutional Activity

Recent months have seen a number of institutional investors adjusting their positions in C3.ai. Notably, Geode Capital Management LLC raised its stake by 8.8% during the third quarter, acquiring an additional 178,870 shares, bringing its total holdings to 2,216,925 shares valued at approximately $53,728,000. Additionally, Hodges Capital Management Inc. initiated a new position in the stock worth about $1,955,000 in the same quarter. State Street Corporation also increased its stake by 1.8%, owning 2,121,391 shares valued at $51,401,000 after purchasing an extra 38,185 shares. Moreover, Janus Henderson Group PLC boosted its holdings by 21.3%, while Holocene Advisors LP saw a remarkable increase of 98.4% in its shares, now holding 75,780 shares worth $1,836,000. Currently, institutional investors control approximately 38.96% of C3.ai’s stock.

Analyst Recommendations

Several analysts have recently provided their insights regarding C3.ai. Piper Sandler Companies reaffirmed a "neutral" rating with a target price of $24.00 per share. Conversely, JMP Securities raised their target price from $40.00 to $55.00 and rated the stock as a "market outperform." On the other hand, Wedbush reduced their target price from $40.00 to $30.00 while maintaining an "outperform" rating. Morgan Stanley adjusted their price objective from $21.00 to $32.00, assessing it as "underweight." Needham & Company LLC continues to have a "hold" rating on the stock. Overall, out of the analysts covering C3.ai, four rated it as a sell, five as holds, four as buys, and one as a strong buy, leading to an average rating of "Hold" with a target of $35.55.

About C3.ai

C3.ai, Inc. is a prominent enterprise artificial intelligence (AI) software company that operates across North America, Europe, the Middle East, Africa, Asia Pacific, and globally. The company provides the C3 AI platform, a robust application development and runtime environment that aids customers in designing and deploying enterprise AI applications. They also offer C3 AI Ex Machina for handling data ready for analysis, a customer relationship management solution tailored to specific industries, and the C3 Generative AI Product Suite for information management.

C3.ai, Stock, Director