Piper Sandler Issues Positive Forecast for C3.ai (NYSE:AI) Stock Price

C3.ai (NYSE:AI) had its price target increased by Piper Sandler from $24.00 to $42.00 in a research report released on Tuesday morning,Benzinga reports. They currently have a neutral rating on the stock.

Other equities analysts also recently issued reports about the company. Needham & Company LLC restated a “hold” rating on shares of C3.ai in a report on Tuesday. Wedbush cut their price target on shares of C3.ai from $40.00 to $30.00 and set an “outperform” rating on the stock in a report on Thursday, September 5th. Piper Sandler Companies reiterated a “neutral” rating and set a $24.00 price objective on shares of C3.ai in a research note on Thursday, September 5th. DA Davidson increased their price objective on shares of C3.ai from $20.00 to $35.00 and gave the stock a “neutral” rating in a research report on Thursday, December 5th. Finally, JMP Securities restated a “market outperform” rating and set a $40.00 target price on shares of C3.ai in a report on Thursday, September 5th. Four research analysts have rated the stock with a sell rating, five have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $35.55.

C3.ai Trading Up 0.2 %

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

Insider Buying and Selling

In other C3.ai news, CFO Hitesh Lath sold 11,339 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The stock was 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 owns 851 shares in the company, valued at $35,742. This trade represents a 93.02 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Stephen M. Ward, Jr. sold 125,000 shares of C3.ai stock in a transaction that occurred 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 sale, the director now owns 546,495 shares in the company, valued at $22,952,790. This represents a 18.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 33.54% of the stock is currently owned by insiders.

Institutional Trading of C3.ai

A number of hedge funds have recently made changes to their positions in AI. Hobbs Group Advisors LLC acquired a new stake in C3.ai in the second quarter valued at $29,000. Unique Wealth Strategies LLC acquired a new position in C3.ai during the 2nd quarter worth $28,000. Blue Trust Inc. increased 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 worth $28,000 after purchasing an additional 615 shares during the last quarter. JTC Employer Solutions Trustee Ltd acquired a new stake in shares of C3.ai in the 3rd quarter valued at about $25,000. Finally, Northwestern Mutual Wealth Management Co. raised its stake in shares of 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 purchasing an additional 795 shares in the last quarter. Institutional investors and hedge funds own 38.96% of the company’s stock.

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.