C3.ai (NYSE:AI) Upgraded at DA Davidson

DA Davidson upgraded shares of C3.ai (NYSE:AI) to a hold rating in a research report sent to investors on Wednesday,Zacks.com reports.

AI has been the subject of a number of other reports. Canaccord Genuity Group raised their price target on shares of C3.ai from $23.00 to $40.00 and gave the stock a “hold” rating in a research report on Wednesday, December 11th. Oppenheimer reaffirmed an “outperform” rating and issued a $40.00 price target on shares of C3.ai in a report on Thursday, September 5th. Needham & Company LLC reiterated a “hold” rating on shares of C3.ai in a research note on Tuesday, December 10th. Wedbush lowered their target price on C3.ai from $40.00 to $30.00 and set an “outperform” rating on the stock in a research note on Thursday, September 5th. Finally, Bank of America reduced their price target on C3.ai from $24.00 to $20.00 and set an “underperform” rating for the company in a research report on Thursday, September 5th. Five analysts have rated the stock with a sell rating, five have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $35.00.

C3.ai Stock Performance

C3.ai stock opened at $36.34 on Wednesday. C3.ai has a fifty-two week low of $18.85 and a fifty-two week high of $45.08. The company has a market cap of $4.62 billion, a PE ratio of -16.44 and a beta of 2.00. The business’s 50-day simple moving average is $31.78 and its two-hundred day simple moving average is $28.08.

Insiders Place Their Bets

In other C3.ai news, Director John E. Hyten sold 5,000 shares of the business’s 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 completion of the sale, the director now directly owns 263,843 shares in the company, valued at approximately $10,123,655.91. The trade was a 1.86 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Stephen M. Ward, Jr. sold 125,000 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $42.00, for a total value of $5,250,000.00. Following the completion of the transaction, the director now owns 546,495 shares in the company, valued at approximately $22,952,790. This trade represents a 18.62 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 644,988 shares of company stock worth $27,597,453. Company insiders own 33.54% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Blue Trust Inc. grew its holdings in shares of C3.ai by 148.9% during the second quarter. Blue Trust Inc. now owns 1,028 shares of the company’s stock worth $28,000 after buying an additional 615 shares in the last quarter. JTC Employer Solutions Trustee Ltd purchased a new stake in C3.ai during the 3rd quarter valued at about $25,000. Northwestern Mutual Wealth Management Co. raised its holdings in C3.ai by 311.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,050 shares of the company’s stock valued at $30,000 after acquiring an additional 795 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in C3.ai in the 2nd quarter worth approximately $41,000. Finally, Quest Partners LLC boosted 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 purchasing an additional 1,626 shares during the last quarter. 38.96% of the stock is owned by institutional investors and hedge funds.

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.