C3.ai (NYSE:AI) Shares Down 6.9% – What’s Next?

C3.ai, Inc. (NYSE:AI) traded down 6.9% on Thursday . The company traded as low as $33.01 and last traded at $33.34. 5,192,963 shares changed hands 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

A number of equities analysts have recently weighed in on the stock. Needham & Company LLC reissued a “hold” rating on shares of C3.ai in a research report on Tuesday, December 10th. KeyCorp cut shares of 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. JPMorgan Chase & Co. cut shares of C3.ai from a “neutral” rating to an “underweight” rating and set a $28.00 price objective on the stock. in a research report on Wednesday, December 11th. Northland Securities boosted their price objective on shares of C3.ai from $35.00 to $45.00 and gave the company an “outperform” rating in a research report on Tuesday, December 10th. Finally, DA Davidson raised shares of C3.ai to a “hold” rating in a research report on Wednesday, December 18th. Five investment analysts have rated the stock with a sell rating, five have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, C3.ai presently has a consensus rating of “Hold” and an average target price of $35.00.

C3.ai Trading Down 6.9 %

The company has a market capitalization of $4.30 billion, a price-to-earnings ratio of -15.09 and a beta of 2.00. The firm’s 50 day moving average price is $34.29 and its two-hundred day moving average price is $28.60.

Insider Transactions at C3.ai

In other C3.ai news, CFO Hitesh Lath sold 3,949 shares of the business’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $42.36, for a total value of $167,279.64. Following the completion of the sale, the chief financial officer now owns 851 shares of the company’s stock, valued at $36,048.36. The trade was a 82.27 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Merel Witteveen sold 11,132 shares of the business’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $34.95, for a total transaction of $389,063.40. Following the completion of the sale, the vice president now directly owns 4,142 shares of the company’s stock, valued at $144,762.90. This represents a 72.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 668,721 shares of company stock worth $28,425,151 in the last ninety days. Insiders own 33.54% of the company’s stock.

Institutional Trading of C3.ai

A number of institutional investors have recently bought and sold shares of AI. Principal Financial Group Inc. lifted its holdings in shares of C3.ai by 4.3% during the 2nd quarter. Principal Financial Group Inc. now owns 11,165 shares of the company’s stock worth $323,000 after acquiring an additional 462 shares during the period. Rhumbline Advisers lifted its holdings in shares of C3.ai by 0.5% during the 2nd quarter. Rhumbline Advisers now owns 125,344 shares of the company’s stock worth $3,630,000 after acquiring an additional 572 shares during the period. Arizona State Retirement System lifted its holdings in shares of C3.ai by 9.9% during the 2nd quarter. Arizona State Retirement System now owns 29,869 shares of the company’s stock worth $865,000 after acquiring an additional 2,686 shares during the period. PFG Investments LLC lifted its holdings in shares of C3.ai by 46.8% during the 2nd quarter. PFG Investments LLC now owns 17,868 shares of the company’s stock worth $517,000 after acquiring an additional 5,695 shares during the period. Finally, LGT Fund Management Co Ltd. bought a new stake in shares of C3.ai during the 2nd quarter worth approximately $924,000. Institutional investors own 38.96% of the company’s stock.

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.