C3.ai, Inc. (NYSE:AI - Get Free Report) has been given a consensus recommendation of "Hold" by the fourteen analysts that are presently covering the stock, Marketbeat Ratings reports. Four equities 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 12 month price target among analysts that have updated their coverage on the stock in the last year is $35.00.
A number of equities analysts have recently weighed in on the stock. KeyCorp cut shares of C3.ai from a "sector weight" rating to an "underweight" rating and set a $29.00 price target on the stock. in a research note on Thursday, December 19th. Northland Securities boosted their price objective on shares of C3.ai from $35.00 to $45.00 and gave the stock an "outperform" rating in a research report on Tuesday, December 10th. JMP Securities boosted 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. JPMorgan Chase & Co. lowered shares of C3.ai from a "neutral" rating to an "underweight" rating and set a $28.00 price objective on the stock. in a research report on Wednesday, December 11th. Finally, Morgan Stanley boosted their price objective on shares of C3.ai from $21.00 to $32.00 and gave the stock an "underweight" rating in a research report on Tuesday, December 10th.
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Insider Transactions at C3.ai
In related news, CEO Thomas M. Siebel sold 409,831 shares of the stock in a transaction that occurred on 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 completion of 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Hitesh Lath sold 3,949 shares of the stock in a transaction that occurred on 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 of the company's stock, valued at $36,048.36. This trade represents a 82.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,078,552 shares of company stock worth $41,117,617 in the last three months. Company insiders own 33.54% of the company's stock.
Institutional Trading of C3.ai
A number of hedge funds have recently made changes to their positions in the stock. Janney Montgomery Scott LLC grew its position in shares of C3.ai by 70.9% during the fourth quarter. Janney Montgomery Scott LLC now owns 55,339 shares of the company's stock worth $1,905,000 after buying an additional 22,949 shares in the last quarter. Friedenthal Financial acquired a new stake in shares of C3.ai during the fourth quarter worth approximately $757,000. TT International Asset Management LTD bought a new position in C3.ai during the fourth quarter worth $482,000. Wealth Enhancement Advisory Services LLC lifted its stake in C3.ai by 28.1% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 14,400 shares of the company's stock worth $496,000 after purchasing an additional 3,161 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in C3.ai by 8.8% during the third quarter. Geode Capital Management LLC now owns 2,216,925 shares of the company's stock worth $53,728,000 after purchasing an additional 178,870 shares during the last quarter. Institutional investors and hedge funds own 38.96% of the company's stock.
C3.ai Trading Down 1.0 %
Shares of NYSE:AI traded down $0.34 on Friday, reaching $31.98. 3,841,911 shares of the company were exchanged, compared to its average volume of 6,162,046. C3.ai has a 1-year low of $18.85 and a 1-year high of $45.08. The firm has a market cap of $4.13 billion, a price-to-earnings ratio of -14.47 and a beta of 2.00. The company has a 50-day moving average of $35.09 and a 200-day moving average of $28.78.
About C3.ai
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Get Free ReportC3.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.
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