C3.ai (NYSE:AI) Upgraded to “Hold” at DA Davidson

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

Other equities analysts have also issued reports about the stock. Wedbush cut their price objective on shares of C3.ai from $40.00 to $30.00 and set an “outperform” rating on the stock in a report on Thursday, September 5th. StockNews.com raised C3.ai to a “sell” rating in a research report on Tuesday, November 26th. JPMorgan Chase & Co. downgraded C3.ai from a “neutral” rating to an “underweight” rating and set a $28.00 price objective on the stock. in a research report on Wednesday, December 11th. Piper Sandler boosted 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. Finally, Morgan Stanley lifted their price objective on shares of C3.ai from $21.00 to $32.00 and gave the stock an “underweight” rating in a research report on Tuesday, December 10th. Five investment 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 company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $35.00.

C3.ai Price Performance

Shares of AI stock traded down $2.89 during mid-day trading on Wednesday, hitting $36.80. The stock had a trading volume of 3,921,191 shares, compared to its average volume of 5,995,602. C3.ai has a 12-month low of $18.85 and a 12-month high of $45.08. The firm’s 50-day moving average is $31.41 and its two-hundred day moving average is $27.98. The firm has a market capitalization of $4.67 billion, a P/E ratio of -16.65 and a beta of 2.00.

Insider Buying and Selling at C3.ai

In other news, Director John E. Hyten sold 5,000 shares of the business’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $38.37, for a total transaction of $191,850.00. Following the completion of the sale, the director now owns 263,843 shares of the company’s stock, valued at $10,123,655.91. The trade was a 1.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Hitesh Lath sold 11,339 shares of the 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 $476,238.00. Following the transaction, the chief financial officer now directly owns 851 shares of the company’s stock, valued at $35,742. The trade was a 93.02 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 145,288 shares of company stock valued at $6,085,368. 33.54% of the stock is owned by company insiders.

Institutional Investors Weigh In On C3.ai

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Blue Trust Inc. lifted its stake in shares of C3.ai by 148.9% in the second quarter. Blue Trust Inc. now owns 1,028 shares of the company’s stock worth $28,000 after buying an additional 615 shares in the last quarter. Raymond James & Associates raised its holdings in C3.ai by 11.5% in the 2nd quarter. Raymond James & Associates now owns 201,262 shares of the company’s stock valued at $5,829,000 after acquiring an additional 20,753 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in C3.ai by 10.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 22,335 shares of the company’s stock worth $647,000 after purchasing an additional 2,187 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of C3.ai by 0.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 771,540 shares of the company’s stock worth $22,344,000 after purchasing an additional 1,929 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of C3.ai by 5.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,434 shares of the company’s stock valued at $650,000 after purchasing an additional 1,060 shares during the last quarter. Institutional investors and hedge funds 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.