C3.ai (NYSE:AI) Upgraded by DA Davidson to Hold Rating

DA Davidson upgraded shares of C3.ai (NYSE:AI - Free Report) to a hold rating in a research note published on Wednesday,Zacks.com reports.

Several other brokerages have also recently issued reports on AI. Piper Sandler Companies reissued a "neutral" rating and issued a $24.00 target price on shares of C3.ai in a research report on Thursday, September 5th. Northland Securities raised their price objective on shares of C3.ai from $35.00 to $45.00 and gave the stock an "outperform" rating in a report on Tuesday, December 10th. JPMorgan Chase & Co. cut shares of C3.ai from a "neutral" rating to an "underweight" rating and set a $28.00 target price for the company. in a report on Wednesday, December 11th. StockNews.com upgraded shares of C3.ai to a "sell" rating in a research note on Tuesday, November 26th. Finally, Bank of America cut their price objective on shares of C3.ai from $24.00 to $20.00 and set an "underperform" rating for the company in a research report on Thursday, September 5th. Five research analysts have rated the stock with a sell rating, five have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, C3.ai currently has a consensus rating of "Hold" and an average target price of $35.00.

C3.ai Stock Performance

Shares of AI traded down $4.24 during mid-day trading on Wednesday, hitting $35.45. 16,105,735 shares of the company traded hands, compared to its average volume of 6,049,832. The stock has a market cap of $4.50 billion, a price-to-earnings ratio of -16.04 and a beta of 2.00. The stock has a 50-day moving average price of $31.59 and a two-hundred day moving average price of $28.03. C3.ai has a 1 year low of $18.85 and a 1 year high of $45.08.

Insider Activity

In other C3.ai news, Director Stephen M. Ward, Jr. sold 125,000 shares of the stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $42.00, for a total transaction of $5,250,000.00. Following the completion of the transaction, the director now owns 546,495 shares of the company's stock, valued at $22,952,790. This represents a 18.62 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Hitesh Lath sold 11,339 shares of C3.ai 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 sale, the chief financial officer now directly owns 851 shares in the company, valued at $35,742. This trade represents a 93.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 644,988 shares of company stock worth $27,597,453 over the last ninety days. Corporate insiders own 33.54% of the company's stock.

Institutional Trading of C3.ai

A number of large investors have recently added to or reduced their stakes in AI. Blue Trust Inc. increased its holdings in shares of C3.ai by 148.9% in the 2nd quarter. Blue Trust Inc. now owns 1,028 shares of the company's stock worth $28,000 after buying an additional 615 shares during the last quarter. JTC Employer Solutions Trustee Ltd bought a new stake in C3.ai during the third quarter worth approximately $25,000. Northwestern Mutual Wealth Management Co. raised its position in C3.ai by 311.8% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,050 shares of the company's stock valued at $30,000 after purchasing an additional 795 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of C3.ai in the 2nd quarter valued at approximately $41,000. Finally, Quest Partners LLC boosted its holdings in shares of C3.ai by 9,033.3% in the 3rd quarter. Quest Partners LLC now owns 1,644 shares of the company's stock worth $40,000 after purchasing an additional 1,626 shares during the period. Institutional investors own 38.96% of the company's stock.

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.