C3.ai (NYSE:AI) Shares Up 0.3% - Time to Buy?

C3.ai, Inc. (NYSE:AI - Get Free Report) traded up 0.3% during trading on Tuesday . The company traded as high as $35.90 and last traded at $35.56. 1,373,577 shares were traded during trading, a decline of 77% from the average session volume of 6,051,206 shares. The stock had previously closed at $35.46.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on AI. Piper Sandler upped their price target on shares of C3.ai from $24.00 to $42.00 and gave the stock a "neutral" rating in a research report on Tuesday, December 10th. Piper Sandler Companies restated a "neutral" rating and set a $24.00 target price on shares of C3.ai in a research report on Thursday, September 5th. Needham & Company LLC reiterated a "hold" rating on shares of C3.ai in a research report on Tuesday, December 10th. Oppenheimer restated an "outperform" rating and set a $40.00 price objective on shares of C3.ai in a research report on Thursday, September 5th. Finally, Northland Securities lifted their target price on C3.ai from $35.00 to $45.00 and gave the stock an "outperform" rating in a report on Tuesday, December 10th. Five equities research analysts have rated the stock with a sell rating, five have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $35.00.

C3.ai Stock Up 0.7 %

The firm has a market cap of $4.61 billion, a PE ratio of -16.16 and a beta of 2.00. The business has a 50 day simple moving average of $31.93 and a two-hundred day simple moving average of $28.09.

Insider Transactions at C3.ai

In other news, Director Jim H. Snabe sold 499,700 shares of the firm's stock in a transaction on 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 owns 10,000 shares in the company, valued at approximately $430,500. This trade represents a 98.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, 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 value of $167,279.64. Following the completion of the sale, the chief financial officer now owns 851 shares of the company's stock, valued at $36,048.36. The trade was a 82.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 644,988 shares of company stock worth $27,597,453. Insiders own 33.54% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. American Century Companies Inc. lifted its position in shares of C3.ai by 2.1% in the 2nd quarter. American Century Companies Inc. now owns 21,447 shares of the company's stock worth $621,000 after purchasing an additional 432 shares during the period. Victory Capital Management Inc. lifted its holdings in C3.ai by 3.4% during the third quarter. Victory Capital Management Inc. now owns 14,078 shares of the company's stock worth $341,000 after buying an additional 457 shares during the period. Principal Financial Group Inc. boosted its position in C3.ai by 4.3% during the 2nd quarter. Principal Financial Group Inc. now owns 11,165 shares of the company's stock valued at $323,000 after acquiring an additional 462 shares in the last quarter. Forum Financial Management LP increased its holdings in shares of C3.ai by 4.4% in the 2nd quarter. Forum Financial Management LP now owns 12,893 shares of the company's stock valued at $373,000 after acquiring an additional 539 shares during the period. Finally, Rhumbline Advisers raised its position in shares of C3.ai by 0.5% in the 2nd quarter. Rhumbline Advisers now owns 125,344 shares of the company's stock worth $3,630,000 after acquiring an additional 572 shares in the last quarter. Hedge funds and other institutional investors 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.