C3.ai (NYSE:AI) Price Target Raised to $40.00

C3.ai (NYSE:AI) had its price objective boosted by Canaccord Genuity Group from $23.00 to $40.00 in a research report sent to investors on Wednesday morning,Benzinga reports. The brokerage currently has a hold rating on the stock.

AI has been the topic of several other research reports. StockNews.com upgraded shares of C3.ai to a “sell” rating in a report on Tuesday, November 26th. DA Davidson lifted their price objective on C3.ai from $20.00 to $35.00 and gave the stock a “neutral” rating in a research report on Thursday, December 5th. Morgan Stanley upped their target price on C3.ai from $21.00 to $32.00 and gave the company an “underweight” rating in a research report on Tuesday. JMP Securities lifted their target price on C3.ai from $40.00 to $55.00 and gave the stock a “market outperform” rating in a report on Tuesday. Finally, Wedbush cut their price target on C3.ai from $40.00 to $30.00 and set an “outperform” rating on the stock in a report on Thursday, September 5th. Four analysts have rated the stock with a sell rating, five have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $35.55.

C3.ai Stock Performance

Shares of NYSE AI opened at $39.46 on Wednesday. The company’s 50 day moving average price is $30.08 and its 200-day moving average price is $27.54. C3.ai has a 52-week low of $18.85 and a 52-week high of $45.08. The company has a market capitalization of $5.01 billion, a P/E ratio of -17.91 and a beta of 2.00.

Insider Activity at C3.ai

In other C3.ai news, Director Stephen M. Ward, Jr. sold 125,000 shares of the firm’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 $5,250,000.00. Following the transaction, the director now directly owns 546,495 shares of the company’s stock, valued at approximately $22,952,790. This trade represents a 18.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Hitesh Lath sold 11,339 shares of the business’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $42.00, for a total transaction of $476,238.00. Following the sale, the chief financial officer now directly owns 851 shares of the company’s stock, valued at approximately $35,742. The trade was a 93.02 % 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 Inflows and Outflows

Large investors have recently modified their holdings of the stock. JTC Employer Solutions Trustee Ltd bought a new position in shares of C3.ai during the third quarter valued at about $25,000. Blue Trust Inc. boosted its stake 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 buying an additional 615 shares during the last quarter. Unique Wealth Strategies LLC purchased a new position in shares of C3.ai in the 2nd quarter worth approximately $28,000. Hobbs Group Advisors LLC purchased a new stake in shares of C3.ai during the second quarter valued at approximately $29,000. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings 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 acquiring an additional 795 shares during the period. Institutional investors own 38.96% of the company’s stock.

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.