C3.ai (NYSE:AI) Stock Price Up 0.9%

Shares of C3.ai, Inc. (NYSE:AI) rose 0.9% on Monday . The company traded as high as $28.48 and last traded at $28.07. Approximately 746,062 shares changed hands during trading, a decline of 88% from the average daily volume of 6,387,368 shares. The stock had previously closed at $27.83.

Analyst Upgrades and Downgrades

AI has been the topic of a number of recent research reports. Needham & Company LLC reissued a “hold” rating on shares of C3.ai in a research report on Thursday, May 30th. Canaccord Genuity Group decreased their target price on C3.ai from $31.00 to $30.00 and set a “hold” rating on the stock in a research report on Thursday, May 30th. Northland Capmk raised C3.ai from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 30th. Piper Sandler decreased their target price on C3.ai from $33.00 to $29.00 and set a “neutral” rating on the stock in a research report on Thursday, May 30th. Finally, Northland Securities raised C3.ai from a “market perform” rating to an “outperform” rating and set a $35.00 target price on the stock in a research report on Thursday, May 30th. Three analysts have rated the stock with a sell rating, five have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $31.30.

C3.ai Stock Up 0.8 %

The business has a fifty day simple moving average of $28.22 and a two-hundred day simple moving average of $27.11. The company has a market capitalization of $3.50 billion, a price-to-earnings ratio of -12.11 and a beta of 1.83.

C3.ai (NYSE:AI) last posted its earnings results on Wednesday, May 29th. The company reported ($0.59) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.77) by $0.18. C3.ai had a negative net margin of 93.36% and a negative return on equity of 30.95%. The company had revenue of $86.59 million during the quarter, compared to analysts’ expectations of $84.45 million. As a group, equities analysts predict that C3.ai, Inc. will post -2.35 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Hitesh Lath sold 3,005 shares of C3.ai stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $27.56, for a total value of $82,817.80. Following the completion of the transaction, the chief financial officer now owns 7,390 shares in the company, valued at $203,668.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 34.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of AI. Global Assets Advisory LLC raised its position in C3.ai by 2,547.8% in the 1st quarter. Global Assets Advisory LLC now owns 896,676 shares of the company’s stock worth $24,273,000 after purchasing an additional 862,811 shares during the last quarter. Vanguard Group Inc. raised its position in C3.ai by 6.7% in the 3rd quarter. Vanguard Group Inc. now owns 10,477,374 shares of the company’s stock worth $267,383,000 after purchasing an additional 659,986 shares during the last quarter. Coatue Management LLC raised its position in C3.ai by 25.1% in the 4th quarter. Coatue Management LLC now owns 2,832,229 shares of the company’s stock worth $81,313,000 after purchasing an additional 568,369 shares during the last quarter. Norges Bank bought a new position in C3.ai in the 4th quarter worth approximately $10,879,000. Finally, Virtu Financial LLC raised its position in C3.ai by 541.6% in the 1st quarter. Virtu Financial LLC now owns 108,720 shares of the company’s stock worth $2,943,000 after purchasing an additional 91,774 shares during the last quarter. 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.