C3.ai (NYSE:AI) Raised to Hold at DA Davidson

C3.ai (NYSE:AI) was upgraded by research analysts at DA Davidson to a “hold” rating in a note issued to investors on Wednesday,Zacks.com reports.

Several other research analysts have also weighed in on AI. KeyCorp lowered C3.ai from a “sector weight” rating to an “underweight” rating and set a $29.00 target price on the stock. in a research report on Thursday. Piper Sandler boosted their target price on C3.ai from $24.00 to $42.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Bank of America cut their price target on shares of C3.ai from $24.00 to $20.00 and set an “underperform” rating on the stock in a report on Thursday, September 5th. Oppenheimer reissued an “outperform” rating and issued a $40.00 price objective on shares of C3.ai in a research report on Thursday, September 5th. Finally, Canaccord Genuity Group lifted their target price on shares of C3.ai from $23.00 to $40.00 and gave the company a “hold” rating in a report on Wednesday, December 11th. Five analysts have rated the stock with a sell rating, five have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, C3.ai currently has an average rating of “Hold” and a consensus price target of $35.00.

C3.ai Stock Down 10.7 %

Shares of C3.ai stock opened at $35.45 on Wednesday. C3.ai has a fifty-two week low of $18.85 and a fifty-two week high of $45.08. The business’s fifty day moving average is $31.59 and its two-hundred day moving average is $28.03. The firm has a market cap of $4.50 billion, a PE ratio of -16.04 and a beta of 2.00.

Insider Transactions at C3.ai

In other news, Director John E. Hyten sold 5,000 shares of the stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $38.37, for a total transaction of $191,850.00. Following the transaction, the director now owns 263,843 shares in the company, valued at approximately $10,123,655.91. This trade represents a 1.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Hitesh Lath sold 11,339 shares of the business’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $42.00, for a total value of $476,238.00. Following the completion of the sale, the chief financial officer now owns 851 shares of the company’s stock, valued at $35,742. This trade represents a 93.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 644,988 shares of company stock valued at $27,597,453 in the last ninety days. 33.54% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On C3.ai

Hedge funds and other institutional investors have recently made changes to their positions in the business. JTC Employer Solutions Trustee Ltd acquired a new position in C3.ai in the third quarter valued at about $25,000. Blue Trust Inc. raised its position in shares of C3.ai by 148.9% in the 2nd quarter. Blue Trust Inc. now owns 1,028 shares of the company’s stock valued at $28,000 after buying an additional 615 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of C3.ai by 311.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,050 shares of the company’s stock worth $30,000 after acquiring an additional 795 shares during the period. Quest Partners LLC lifted its holdings in shares of C3.ai by 9,033.3% during the 3rd quarter. Quest Partners LLC now owns 1,644 shares of the company’s stock worth $40,000 after acquiring an additional 1,626 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of C3.ai during the 2nd quarter worth approximately $41,000. 38.96% of the stock is currently 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.