C3.ai (NYSE:AI) Stock Rating Lowered by KeyCorp

C3.ai (NYSE:AI) was downgraded by research analysts at KeyCorp from a “sector weight” rating to an “underweight” rating in a research report issued on Thursday, Marketbeat Ratings reports. They presently have a $29.00 target price on the stock. KeyCorp’s target price would indicate a potential downside of 20.20% from the stock’s current price.

AI has been the subject of a number of other reports. Needham & Company LLC reiterated a “hold” rating on shares of C3.ai in a report on Tuesday, December 10th. JMP Securities increased their target price on shares of C3.ai from $40.00 to $55.00 and gave the stock a “market outperform” rating in a report on Tuesday, December 10th. Bank of America decreased their price target on shares of C3.ai from $24.00 to $20.00 and set an “underperform” rating for the company 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. Finally, Morgan Stanley lifted their target price on C3.ai from $21.00 to $32.00 and gave the company an “underweight” rating in a research note on Tuesday, December 10th. Five research 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. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $35.00.

C3.ai Stock Performance

NYSE:AI opened at $36.34 on Thursday. The company has a market capitalization of $4.62 billion, a price-to-earnings ratio of -16.44 and a beta of 2.00. C3.ai has a one year low of $18.85 and a one year high of $45.08. The stock has a 50-day simple moving average of $31.78 and a 200 day simple moving average of $28.08.

Insiders Place Their Bets

In other news, CFO Hitesh Lath sold 11,339 shares of the company’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 $476,238.00. Following the completion of the sale, the chief financial officer now directly owns 851 shares of the company’s stock, valued at approximately $35,742. This represents a 93.02 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jim H. Snabe sold 499,700 shares of the stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $43.05, for a total transaction of $21,512,085.00. Following the completion of the transaction, the director now owns 10,000 shares of the company’s stock, valued at $430,500. This trade represents a 98.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 644,988 shares of company stock worth $27,597,453. 33.54% of the stock is owned by company insiders.

Institutional Trading of C3.ai

Several institutional investors have recently modified their holdings of AI. JTC Employer Solutions Trustee Ltd acquired a new position in C3.ai during the third quarter worth about $25,000. Blue Trust Inc. boosted its position in shares of 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 purchasing an additional 615 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew 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 worth $30,000 after purchasing an additional 795 shares during the last quarter. Quest Partners LLC raised its holdings in shares of C3.ai by 9,033.3% in 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 in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in C3.ai during the second quarter valued at approximately $41,000. Institutional investors and hedge funds 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.