C3.ai, Inc. (NYSE:AI) Given Average Rating of “Hold” by Brokerages

Shares of C3.ai, Inc. (NYSE:AI) have been assigned an average recommendation of “Hold” from the fourteen analysts that are presently covering the firm, MarketBeat reports. Four research 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 company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $35.00.

Several research firms recently issued reports on AI. Northland Securities boosted their target price on shares of C3.ai from $35.00 to $45.00 and gave the company an “outperform” rating in a research note on Tuesday, December 10th. Morgan Stanley boosted their target price on shares of C3.ai from $21.00 to $32.00 and gave the company an “underweight” rating in a research note on Tuesday, December 10th. StockNews.com upgraded shares of C3.ai to a “sell” rating in a research report on Tuesday, November 26th. JMP Securities upped their price objective on shares of C3.ai from $40.00 to $55.00 and gave the stock a “market outperform” rating in a research report on Tuesday, December 10th. Finally, KeyCorp cut shares of C3.ai from a “sector weight” rating to an “underweight” rating and set a $29.00 price objective for the company. in a research report on Thursday, December 19th.

Insider Transactions at C3.ai

In other C3.ai news, CFO Hitesh Lath sold 3,949 shares of C3.ai stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $42.36, for a total transaction of $167,279.64. Following the completion of the sale, the chief financial officer now directly owns 851 shares in the company, valued at $36,048.36. This trade represents a 82.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Thomas M. Siebel sold 409,831 shares of C3.ai stock in a transaction dated Tuesday, January 14th. The shares were sold at an average price of $30.97, for a total transaction of $12,692,466.07. Following the sale, the chief executive officer now owns 1,756,390 shares of the company’s stock, valued at approximately $54,395,398.30. This represents a 18.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,078,552 shares of company stock valued at $41,117,617. Corporate insiders own 33.54% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. JTC Employer Solutions Trustee Ltd purchased a new position in C3.ai in the third quarter worth approximately $25,000. Northwestern Mutual Wealth Management Co. lifted its stake in 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 acquiring an additional 795 shares during the last quarter. Quest Partners LLC lifted its stake in C3.ai by 9,033.3% in the third quarter. Quest Partners LLC now owns 1,644 shares of the company’s stock worth $40,000 after acquiring an additional 1,626 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in C3.ai in the second quarter worth approximately $41,000. Finally, Geneos Wealth Management Inc. lifted its stake in C3.ai by 72.4% in the fourth quarter. Geneos Wealth Management Inc. now owns 1,322 shares of the company’s stock worth $46,000 after acquiring an additional 555 shares during the last quarter. Institutional investors and hedge funds own 38.96% of the company’s stock.

C3.ai Price Performance

AI opened at $33.60 on Friday. The firm has a fifty day moving average price of $35.27 and a 200 day moving average price of $28.83. C3.ai has a 1 year low of $18.85 and a 1 year high of $45.08. The stock has a market cap of $4.34 billion, a P/E ratio of -15.20 and a beta of 2.00.

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.