C3.ai (NYSE:AI) Price Target Raised to $55.00

C3.ai (NYSE:AI) had its price target hoisted by JMP Securities from $40.00 to $55.00 in a research note issued to investors on Tuesday morning,Benzinga reports. JMP Securities currently has a market outperform rating on the stock.

Several other analysts also recently commented on the stock. DA Davidson increased their target price on shares of C3.ai from $20.00 to $35.00 and gave the company a “neutral” rating in a report on Thursday, December 5th. StockNews.com upgraded shares of C3.ai to a “sell” rating in a research note on Tuesday, November 26th. Wedbush dropped their target price on shares of C3.ai from $40.00 to $30.00 and set an “outperform” rating on the stock in a research report on Thursday, September 5th. Oppenheimer reaffirmed an “outperform” rating and issued a $40.00 target price on shares of C3.ai in a report on Thursday, September 5th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of C3.ai in a report on Tuesday. Four 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’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $35.55.

C3.ai Trading Up 0.2 %

Shares of C3.ai stock opened at $38.24 on Tuesday. The company has a market capitalization of $4.86 billion, a P/E ratio of -17.30 and a beta of 1.99. The stock has a fifty day simple moving average of $30.08 and a 200 day simple moving average of $27.54. C3.ai has a 12-month low of $18.85 and a 12-month high of $45.08.

Insider Buying and Selling at C3.ai

In other news, Director Stephen M. Ward, Jr. sold 125,000 shares of C3.ai stock in a transaction dated 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 $22,952,790. This trade represents a 18.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Hitesh Lath sold 11,339 shares of the business’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 transaction of $476,238.00. Following the completion of the sale, the chief financial officer now directly owns 851 shares in the company, valued at approximately $35,742. This trade represents a 93.02 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 33.54% of the company’s stock.

Hedge Funds Weigh In On C3.ai

A number of large investors have recently made changes to their positions in the stock. JTC Employer Solutions Trustee Ltd bought a new stake in shares of C3.ai during the 3rd quarter valued at $25,000. Blue Trust Inc. grew its holdings in C3.ai by 148.9% during 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. Unique Wealth Strategies LLC purchased a new position in C3.ai during the 2nd quarter valued at about $28,000. Hobbs Group Advisors LLC bought a new stake in shares of C3.ai during the second quarter valued at about $29,000. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in shares of C3.ai by 311.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,050 shares of the company’s stock worth $30,000 after buying an additional 795 shares in the last quarter. 38.96% of the stock is owned by institutional investors.

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.