C3.ai (NYSE:AI) Downgraded to Underweight Rating by KeyCorp

KeyCorp lowered shares of C3.ai (NYSE:AI) from a sector weight rating to an underweight rating in a research report report published on Thursday morning, MarketBeat Ratings reports. They currently have $29.00 target price on the stock.

Several other research firms also recently commented on AI. DA Davidson raised their price objective on C3.ai from $20.00 to $35.00 and gave the stock a “neutral” rating in a report on Thursday, December 5th. Bank of America reduced their price objective on shares of C3.ai from $24.00 to $20.00 and set an “underperform” rating for the company in a research note on Thursday, September 5th. Piper Sandler Companies reaffirmed a “neutral” rating and issued a $24.00 price target on shares of C3.ai in a report on Thursday, September 5th. Needham & Company LLC reiterated a “hold” rating on shares of C3.ai in a report on Tuesday, December 10th. Finally, StockNews.com upgraded C3.ai to a “sell” rating in a research note on Tuesday, November 26th. Five analysts have rated the stock with a sell rating, five have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $35.00.

C3.ai Trading Down 10.7 %

AI stock opened at $35.45 on Thursday. C3.ai has a 12 month low of $18.85 and a 12 month high of $45.08. The stock has a market cap of $4.50 billion, a PE ratio of -16.04 and a beta of 2.00. The company has a 50-day moving average price of $31.59 and a 200 day moving average price of $28.03.

Insider Activity

In other news, Director Stephen M. Ward, Jr. sold 125,000 shares of C3.ai stock in a transaction on 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 transaction, the director now owns 546,495 shares in the company, valued at $22,952,790. The trade was a 18.62 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jim H. Snabe sold 499,700 shares of C3.ai stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $43.05, for a total transaction of $21,512,085.00. Following the transaction, the director now directly owns 10,000 shares in the company, 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. Insiders sold 644,988 shares of company stock worth $27,597,453 over the last three months. Insiders own 33.54% of the company’s stock.

Institutional Trading of C3.ai

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AI. Blue Trust Inc. increased its stake in C3.ai by 148.9% during the second 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 period. Raymond James & Associates lifted its holdings in C3.ai by 11.5% during the 2nd quarter. Raymond James & Associates now owns 201,262 shares of the company’s stock worth $5,829,000 after buying an additional 20,753 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in C3.ai by 10.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 22,335 shares of the company’s stock valued at $647,000 after buying an additional 2,187 shares during the period. Bank of New York Mellon Corp grew its stake in shares of C3.ai by 0.3% in the second quarter. Bank of New York Mellon Corp now owns 771,540 shares of the company’s stock worth $22,344,000 after acquiring an additional 1,929 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of C3.ai by 5.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,434 shares of the company’s stock worth $650,000 after acquiring an additional 1,060 shares during the period. Hedge funds and other institutional investors 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.