C3.ai, Inc. (NYSE:AI – Get Free Report) CFO Hitesh Lath sold 21,077 shares of the business’s stock in a transaction dated Wednesday, September 16th. The shares were sold at an average price of $10.48, for a total value of $220,886.96. Following the completion of the transaction, the chief financial officer directly owned 371,036 shares of the company’s stock, valued at approximately $3,888,457.28. The trade was a 5.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Hitesh Lath also recently made the following trade(s):
- On Tuesday, August 4th, Hitesh Lath sold 20,000 shares of C3.ai stock. The stock was sold at an average price of $10.00, for a total value of $200,000.00.
- On Tuesday, June 30th, Hitesh Lath sold 48,619 shares of C3.ai stock. The stock was sold at an average price of $8.77, for a total value of $426,388.63.
C3.ai Price Performance
NYSE:AI opened at $10.78 on Friday. The business’s 50-day simple moving average is $9.83 and its 200-day simple moving average is $9.47. C3.ai, Inc. has a fifty-two week low of $7.68 and a fifty-two week high of $20.22. The stock has a market capitalization of $1.67 billion, a PE ratio of -3.50 and a beta of 2.10.
Wall Street Analysts Forecast Growth
AI has been the topic of several recent research reports. Canaccord Genuity Group reissued a “hold” rating and issued a $10.00 price target on shares of C3.ai in a research note on Thursday, September 3rd. Weiss Ratings upgraded shares of C3.ai from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, August 4th. Citigroup restated a “market perform” rating on shares of C3.ai in a report on Thursday, September 3rd. Needham & Company LLC reaffirmed a “hold” rating on shares of C3.ai in a research report on Thursday, September 3rd. Finally, Wall Street Zen raised shares of C3.ai from a “sell” rating to a “hold” rating in a research report on Sunday, September 13th. One equities research analyst has rated the stock with a Buy rating, four have issued a Hold rating and seven have issued a Sell rating to the stock. According to data from MarketBeat, C3.ai presently has a consensus rating of “Reduce” and a consensus price target of $8.70.
View Our Latest Stock Analysis on C3.ai
Institutional Investors Weigh In On C3.ai
Hedge funds have recently bought and sold shares of the stock. Bank of America Corp DE grew its position in shares of C3.ai by 55.1% during the 1st quarter. Bank of America Corp DE now owns 3,282,183 shares of the company’s stock worth $27,636,000 after purchasing an additional 1,166,302 shares in the last quarter. First Trust Advisors LP boosted its stake in shares of C3.ai by 67.3% in the first quarter. First Trust Advisors LP now owns 1,215,341 shares of the company’s stock valued at $10,233,000 after buying an additional 488,710 shares during the period. Edgestream Partners L.P. grew its position in C3.ai by 247.5% during the first quarter. Edgestream Partners L.P. now owns 658,573 shares of the company’s stock worth $5,545,000 after buying an additional 469,057 shares in the last quarter. EVR Research LP increased its stake in C3.ai by 223.8% during the 4th quarter. EVR Research LP now owns 600,400 shares of the company’s stock worth $8,093,000 after acquiring an additional 415,000 shares during the period. Finally, Zweig DiMenna Associates LLC bought a new position in C3.ai during the 1st quarter worth $2,686,000. 38.96% of the stock is currently owned by institutional investors and hedge funds.
About C3.ai
C3.ai, Inc develops enterprise artificial intelligence software and applications for organizations in a range of industries. Its technology is designed to help businesses use data, machine learning and predictive analytics to address operational, financial and strategic challenges.
The company’s offerings include the C3 AI Platform, which provides tools for developing, deploying and operating AI applications, as well as prebuilt applications for use cases such as predictive maintenance, fraud detection, supply-chain optimization, customer engagement, energy management and regulatory compliance.
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