C3.ai (NYSE:AI) Stock Price Up 0.8% - Time to Buy?

C3.ai, Inc. (NYSE:AI - Get Free Report) traded up 0.8% on Friday . The company traded as high as $36.03 and last traded at $35.75. 3,119,862 shares were traded during mid-day trading, a decline of 48% from the average session volume of 6,035,588 shares. The stock had previously closed at $35.45.

Analyst Ratings Changes

Several analysts have commented on the company. Wedbush cut their target price on C3.ai from $40.00 to $30.00 and set an "outperform" rating on the stock in a research note on Thursday, September 5th. Bank of America reduced their price objective on C3.ai from $24.00 to $20.00 and set an "underperform" rating for the company in a report on Thursday, September 5th. Northland Securities raised their price target on shares of C3.ai from $35.00 to $45.00 and gave the company an "outperform" rating in a report on Tuesday, December 10th. Piper Sandler Companies reissued a "neutral" rating and set a $24.00 price objective on shares of C3.ai in a report on Thursday, September 5th. Finally, Piper Sandler raised their target price on shares of C3.ai from $24.00 to $42.00 and gave the stock a "neutral" rating in a report on Tuesday, December 10th. Five equities research analysts have rated the stock with a sell rating, five have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, C3.ai has an average rating of "Hold" and an average price target of $35.00.

C3.ai Stock Performance

The stock has a fifty day moving average of $31.59 and a 200 day moving average of $28.03. The company has a market capitalization of $4.62 billion, a P/E ratio of -16.44 and a beta of 2.00.

Insider Transactions at C3.ai

In other news, CFO Hitesh Lath sold 11,339 shares of the company's stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $42.00, for a total value of $476,238.00. Following the completion of the transaction, 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 legal filing with the SEC, which is available at this hyperlink. Also, Director Stephen M. Ward, Jr. sold 125,000 shares of C3.ai stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $42.00, for a total value of $5,250,000.00. Following the sale, the director now directly owns 546,495 shares in the company, valued at $22,952,790. This trade represents a 18.62 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 644,988 shares of company stock valued at $27,597,453 over the last quarter. 33.54% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On C3.ai

Institutional investors have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. grew its position in shares of C3.ai by 12.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 844,389 shares of the company's stock valued at $20,460,000 after purchasing an additional 92,280 shares in the last quarter. PDT Partners LLC purchased a new position in C3.ai during the 3rd quarter valued at approximately $1,624,000. Global Assets Advisory LLC purchased a new position in C3.ai during the 3rd quarter valued at approximately $743,000. Janney Montgomery Scott LLC bought a new stake in C3.ai in the 3rd quarter worth approximately $785,000. Finally, Intech Investment Management LLC purchased a new stake in shares of C3.ai during the 3rd quarter worth approximately $859,000. 38.96% of the stock is owned by hedge funds and other institutional investors.

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.