Shares of C3.ai, Inc. (NYSE:AI - Get Free Report) shot up 6.9% on Monday . The company traded as high as $35.79 and last traded at $35.77. 3,482,829 shares were traded during trading, a decline of 23% from the average session volume of 4,549,533 shares. The stock had previously closed at $33.48.
Wall Street Analyst Weigh In
A number of research firms recently weighed in on AI. DA Davidson raised C3.ai to a "hold" rating in a research report on Wednesday, December 18th. JPMorgan Chase & Co. downgraded C3.ai from a "neutral" rating to an "underweight" rating and set a $28.00 target price on the stock. in a research report on Wednesday, December 11th. Needham & Company LLC reissued a "hold" rating on shares of C3.ai in a research report on Tuesday, December 10th. Canaccord Genuity Group lifted their target price on C3.ai from $23.00 to $40.00 and gave the stock a "hold" rating in a research report on Wednesday, December 11th. Finally, JMP Securities lifted their price objective on C3.ai from $40.00 to $55.00 and gave the company a "market outperform" rating in a report on Tuesday, December 10th. Five investment analysts have rated the stock with a sell rating, five have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, C3.ai currently has a consensus rating of "Hold" and a consensus price target of $35.00.
Get Our Latest Stock Report on C3.ai
C3.ai Stock Performance
The firm's 50-day moving average is $34.92 and its two-hundred day moving average is $29.30. The stock has a market cap of $4.08 billion, a P/E ratio of -14.30 and a beta of 1.98.
Insider Buying and Selling
In other C3.ai news, VP Merel Witteveen sold 11,132 shares of the company's stock in a transaction on Monday, December 30th. The shares were sold at an average price of $34.95, for a total transaction of $389,063.40. Following the completion of the sale, the vice president now owns 4,142 shares in the company, valued at approximately $144,762.90. The trade was a 72.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Thomas M. Siebel sold 409,831 shares of the company's stock in a transaction 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 sale, the chief executive officer now owns 1,756,390 shares of the company's stock, valued at $54,395,398.30. The trade was a 18.92 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,642,974 shares of company stock worth $59,727,720 in the last quarter. Insiders own 33.54% of the company's stock.
Institutional Trading of C3.ai
Institutional investors and hedge funds have recently made changes to their positions in the business. Brown Lisle Cummings Inc. grew its holdings in shares of C3.ai by 100.0% in the 4th quarter. Brown Lisle Cummings Inc. now owns 800 shares of the company's stock valued at $28,000 after buying an additional 400 shares during the period. R Squared Ltd acquired a new position in shares of C3.ai in the 4th quarter valued at $29,000. Russell Investments Group Ltd. grew its holdings in shares of C3.ai by 100.7% in the 4th quarter. Russell Investments Group Ltd. now owns 909 shares of the company's stock valued at $31,000 after buying an additional 456 shares during the period. WealthTrak Capital Management LLC acquired a new position in shares of C3.ai in the 4th quarter valued at $33,000. Finally, CENTRAL TRUST Co acquired a new position in shares of C3.ai in the 4th quarter valued at $34,000. Institutional investors own 38.96% of the company's stock.
About C3.ai
(
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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.
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