C3.ai, Inc. (NYSE:AI) Director Stephen M. Ward, Jr. Sells 125,000 Shares

C3.ai, Inc. (NYSE:AI) Director Stephen M. Ward, Jr. sold 125,000 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 $5,250,000.00. Following the transaction, the director now owns 546,495 shares in the company, valued at $22,952,790. This trade represents a 18.62 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

C3.ai Stock Up 0.2 %

Shares of AI stock opened at $38.24 on Friday. The firm has a market capitalization of $4.86 billion, a PE ratio of -17.30 and a beta of 1.99. The company has a 50 day moving average price of $30.08 and a 200-day moving average price of $27.54. C3.ai, Inc. has a 52 week low of $18.85 and a 52 week high of $45.08.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on AI. Piper Sandler Companies reaffirmed a “neutral” rating and issued a $24.00 price target on shares of C3.ai in a research note on Thursday, September 5th. Bank of America decreased their price target on shares of C3.ai from $24.00 to $20.00 and set an “underperform” rating for the company in a research note on Thursday, September 5th. Piper Sandler boosted their price objective on shares of C3.ai from $24.00 to $42.00 and gave the stock a “neutral” rating in a research note on Tuesday. Morgan Stanley raised their target price on shares of C3.ai from $21.00 to $32.00 and gave the company an “underweight” rating in a research note on Tuesday. Finally, DA Davidson boosted their price target on C3.ai from $20.00 to $35.00 and gave the stock a “neutral” rating in a research report on Thursday, December 5th. Four investment analysts have rated the stock with a sell rating, five have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $35.55.

Institutional Investors Weigh In On C3.ai

Hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC grew its stake in shares of C3.ai by 8.8% during 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 during the period. Hodges Capital Management Inc. purchased a new position in shares of C3.ai in the third quarter worth approximately $1,955,000. State Street Corp grew its position in C3.ai by 1.8% during the third quarter. State Street Corp now owns 2,121,391 shares of the company’s stock valued at $51,401,000 after buying an additional 38,185 shares during the period. Janus Henderson Group PLC increased its holdings in C3.ai by 21.3% during the third quarter. Janus Henderson Group PLC now owns 52,182 shares of the company’s stock valued at $1,265,000 after buying an additional 9,160 shares during the last quarter. Finally, Holocene Advisors LP raised its position in C3.ai by 98.4% in the third quarter. Holocene Advisors LP now owns 75,780 shares of the company’s stock worth $1,836,000 after acquiring an additional 37,594 shares during the period. 38.96% of the stock is currently owned by hedge funds and other institutional investors.

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.