C3.ai, Inc. (NYSE:AI) Receives $35.00 Average PT from Analysts

C3.ai, Inc. (NYSE:AI) has been assigned an average recommendation of “Hold” from the fourteen research firms that are covering the company, Marketbeat Ratings reports. Four equities 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 assigned a strong buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $35.00.

A number of research analysts recently issued reports on AI shares. Piper Sandler boosted their target price on shares of C3.ai from $24.00 to $42.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. Needham & Company LLC reissued a “hold” rating on shares of C3.ai in a report on Tuesday, December 10th. DA Davidson upgraded C3.ai to a “hold” rating in a research note on Wednesday, December 18th. JPMorgan Chase & Co. downgraded C3.ai from a “neutral” rating to an “underweight” rating and set a $28.00 price target for the company. in a report on Wednesday, December 11th. Finally, Canaccord Genuity Group raised their price objective on shares of C3.ai from $23.00 to $40.00 and gave the stock a “hold” rating in a research note on Wednesday, December 11th.

C3.ai Trading Up 4.5 %

AI opened at $37.32 on Tuesday. C3.ai has a 12-month low of $18.85 and a 12-month high of $45.08. The firm has a 50 day moving average of $32.32 and a two-hundred day moving average of $28.18. The firm has a market capitalization of $4.82 billion, a PE ratio of -16.89 and a beta of 2.00.

Insider Buying and Selling at C3.ai

In other news, CFO Hitesh Lath sold 11,339 shares of the company’s stock in a transaction 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 owns 851 shares of the company’s stock, valued at $35,742. This represents a 93.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Stephen M. Ward, Jr. sold 125,000 shares of the firm’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 $5,250,000.00. Following the completion of the transaction, the director now directly owns 546,495 shares in the company, valued at approximately $22,952,790. This represents a 18.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 644,988 shares of company stock valued at $27,597,453 over the last ninety days. Corporate insiders own 33.54% of the company’s stock.

Institutional Trading of C3.ai

A number of hedge funds have recently bought and sold shares of AI. JTC Employer Solutions Trustee Ltd purchased a new position in shares of C3.ai during the 3rd quarter worth $25,000. Northwestern Mutual Wealth Management Co. increased its position 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 purchasing an additional 795 shares during the last quarter. Quest Partners LLC raised its stake in C3.ai by 9,033.3% during the third 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 period. Point72 Asia Singapore Pte. Ltd. acquired a new position in C3.ai in the 2nd quarter valued at about $41,000. Finally, Arcadia Investment Management Corp MI purchased a new stake in shares of C3.ai in the 3rd quarter valued at approximately $48,000. 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.