C3.ai (NYSE:AI) Stock Price Down 4.3% on Analyst Downgrade

Shares of C3.ai, Inc. (NYSE:AI - Get Free Report) fell 4.3% during mid-day trading on Monday after KeyCorp lowered their price target on the stock from $21.00 to $17.00. KeyCorp currently has an underweight rating on the stock. C3.ai traded as low as $19.70 and last traded at $19.71. 2,942,408 shares changed hands during trading, a decline of 44% from the average session volume of 5,235,855 shares. The stock had previously closed at $20.59.

Several other equities research analysts have also issued reports on the company. DA Davidson reduced their price target on C3.ai from $25.00 to $18.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Needham & Company LLC restated a "hold" rating on shares of C3.ai in a research note on Thursday, February 27th. Piper Sandler reduced their price target on shares of C3.ai from $42.00 to $28.00 and set a "neutral" rating on the stock in a research report on Thursday, February 27th. Morgan Stanley reduced their target price on C3.ai from $30.00 to $20.00 and set an "underweight" rating on the stock in a report on Wednesday. Finally, Canaccord Genuity Group cut their price target on C3.ai from $40.00 to $30.00 and set a "hold" rating on the stock in a report on Thursday, February 27th. Five analysts have rated the stock with a sell rating, five have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $29.58.

Insider Activity at C3.ai

In other news, Director Richard C. Levin sold 12,000 shares of the business's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $29.84, for a total value of $358,080.00. Following the sale, the director now directly owns 161,664 shares in the company, valued at $4,824,053.76. The trade was a 6.91 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Thomas M. Siebel sold 552,422 shares of the business's stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $33.04, for a total transaction of $18,252,022.88. Following the transaction, the chief executive officer now owns 1,336,968 shares in the company, valued at $44,173,422.72. This trade represents a 29.24 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,446,967 shares of company stock worth $37,175,326. 33.54% of the stock is owned by company insiders.

Institutional Trading of C3.ai

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Brown Lisle Cummings Inc. increased its holdings in C3.ai by 100.0% in the 4th quarter. Brown Lisle Cummings Inc. now owns 800 shares of the company's stock worth $28,000 after buying an additional 400 shares during the period. R Squared Ltd acquired a new position in shares of C3.ai during the 4th quarter worth about $29,000. Russell Investments Group Ltd. boosted its stake in shares of C3.ai by 100.7% in the fourth quarter. Russell Investments Group Ltd. now owns 909 shares of the company's stock worth $31,000 after acquiring an additional 456 shares during the last quarter. WealthTrak Capital Management LLC acquired a new stake in C3.ai in the 4th quarter valued at about $33,000. Finally, CENTRAL TRUST Co purchased a new position in shares of C3.ai during the 4th quarter worth $34,000. Institutional investors own 38.96% of the company's stock.

C3.ai Trading Up 0.2 %

The stock's fifty day moving average price is $23.20 and its 200-day moving average price is $28.90. The firm has a market cap of $2.57 billion, a price-to-earnings ratio of -8.77 and a beta of 2.01.

C3.ai (NYSE:AI - Get Free Report) last posted its quarterly earnings results on Wednesday, February 26th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.25) by ($0.37). The company had revenue of $98.78 million during the quarter, compared to analyst estimates of $98.12 million. C3.ai had a negative net margin of 79.17% and a negative return on equity of 31.31%. Analysts predict that C3.ai, Inc. will post -2.44 earnings per share for the current year.

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.