C3.ai, Inc. (NYSE:AI) Receives $35.00 Average PT from Analysts

Shares of C3.ai, Inc. (NYSE:AI) have been assigned an average rating of “Hold” from the fourteen brokerages that are currently covering the firm, Marketbeat Ratings reports. Four investment analysts have rated the stock with a sell recommendation, five have issued a hold recommendation, four have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $35.00.

AI has been the topic of a number of recent research reports. KeyCorp lowered shares of C3.ai from a “sector weight” rating to an “underweight” rating and set a $29.00 target price on the stock. in a research note on Thursday, December 19th. Piper Sandler raised their price objective on shares of C3.ai from $24.00 to $42.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. JPMorgan Chase & Co. downgraded shares of C3.ai from a “neutral” rating to an “underweight” rating and set a $28.00 target price for the company. in a research note on Wednesday, December 11th. Bank of America cut their price target on C3.ai from $24.00 to $20.00 and set an “underperform” rating on the stock in a research note on Thursday, September 5th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of C3.ai in a research report on Tuesday, December 10th.

C3.ai Trading Down 1.2 %

C3.ai stock opened at $35.29 on Tuesday. The firm has a market capitalization of $4.55 billion, a P/E ratio of -15.97 and a beta of 2.00. The stock’s fifty day simple moving average is $32.94 and its 200-day simple moving average is $28.27. C3.ai has a twelve month low of $18.85 and a twelve month high of $45.08.

Insider Transactions at C3.ai

In other news, CFO Hitesh Lath sold 3,949 shares of the firm’s stock in a transaction that occurred on Tuesday, December 17th. The stock was 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 directly owns 851 shares of the company’s stock, valued at $36,048.36. This trade represents a 82.27 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Stephen M. Ward, Jr. sold 125,000 shares of the company’s stock in a transaction 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 directly owns 546,495 shares in the company, valued at $22,952,790. This represents a 18.62 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 644,988 shares of company stock worth $27,597,453. Company insiders own 33.54% of the company’s stock.

Hedge Funds Weigh In On C3.ai

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. JTC Employer Solutions Trustee Ltd acquired a new stake in shares of C3.ai in the 3rd quarter worth approximately $25,000. Northwestern Mutual Wealth Management Co. boosted its position in C3.ai by 311.8% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,050 shares of the company’s stock worth $30,000 after purchasing an additional 795 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in C3.ai in the second quarter valued at $41,000. Quest Partners LLC increased its position in shares of C3.ai by 9,033.3% in the third quarter. Quest Partners LLC now owns 1,644 shares of the company’s stock valued at $40,000 after buying an additional 1,626 shares in the last quarter. Finally, Arcadia Investment Management Corp MI acquired a new position in shares of C3.ai during the 3rd quarter worth $48,000. 38.96% of the stock is owned by institutional investors and hedge funds.

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.