C3.ai (NYSE:AI) Raised to Hold at DA Davidson

C3.ai (NYSE:AI) was upgraded by DA Davidson to a “hold” rating in a research report issued on Wednesday,Zacks.com reports.

A number of other brokerages have also recently commented on AI. Wedbush reduced their price target on C3.ai from $40.00 to $30.00 and set an “outperform” rating for the company in a research report on Thursday, September 5th. JMP Securities lifted their price target on shares of C3.ai from $40.00 to $55.00 and gave the company a “market outperform” rating in a report on Tuesday, December 10th. JPMorgan Chase & Co. downgraded shares of 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. Needham & Company LLC reiterated a “hold” rating on shares of C3.ai in a research note on Tuesday, December 10th. Finally, Piper Sandler Companies restated a “neutral” rating and issued a $24.00 price objective on shares of C3.ai in a research report on Thursday, September 5th. Five research analysts have rated the stock with a sell rating, five have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, C3.ai has a consensus rating of “Hold” and a consensus price target of $35.00.

C3.ai Trading Down 0.8 %

AI stock traded down $0.33 during midday trading on Wednesday, reaching $39.36. 1,045,927 shares of the company’s stock traded hands, compared to its average volume of 5,986,929. C3.ai has a 52-week low of $18.85 and a 52-week high of $45.08. The stock has a market cap of $5.00 billion, a P/E ratio of -17.81 and a beta of 2.00. The stock’s 50-day moving average is $31.41 and its 200 day moving average is $27.98.

Insider Buying and Selling

In other C3.ai news, Director Stephen M. Ward, Jr. sold 125,000 shares of the firm’s 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 transaction, the director now owns 546,495 shares of the company’s stock, valued at approximately $22,952,790. This trade represents a 18.62 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Hitesh Lath sold 11,339 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $42.00, for a total transaction of $476,238.00. Following the completion of the transaction, the chief financial officer now directly owns 851 shares of the company’s stock, valued at $35,742. This trade represents a 93.02 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 145,288 shares of company stock valued at $6,085,368. Insiders own 33.54% of the company’s stock.

Institutional Inflows and Outflows

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