C3.ai (NYSE:AI) Trading Down 2.3% – What’s Next?

C3.ai, Inc. (NYSE:AI)’s share price was down 2.3% during mid-day trading on Tuesday . The stock traded as low as $35.19 and last traded at $36.09. Approximately 1,820,104 shares traded hands during mid-day trading, a decline of 52% from the average daily volume of 3,771,784 shares. The stock had previously closed at $36.93.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on AI shares. Northland Securities increased their price target on C3.ai from $35.00 to $45.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 10th. DA Davidson raised shares of C3.ai to a “hold” rating in a research report on Wednesday, December 18th. KeyCorp downgraded shares of C3.ai from a “sector weight” rating to an “underweight” rating and set a $29.00 price objective on the stock. in a research note on Thursday, December 19th. Morgan Stanley boosted their price objective on shares of C3.ai from $21.00 to $32.00 and gave the stock an “underweight” rating in a research note on Tuesday, December 10th. Finally, JMP Securities increased their target price on C3.ai from $40.00 to $55.00 and gave the company a “market outperform” rating in a research report on Tuesday, December 10th. Five investment analysts have rated the stock with a sell rating, five have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, C3.ai has an average rating of “Hold” and an average price target of $35.00.

C3.ai Trading Down 6.9 %

The stock has a 50-day moving average price of $34.29 and a 200 day moving average price of $28.60. The stock has a market capitalization of $4.30 billion, a price-to-earnings ratio of -15.09 and a beta of 2.00.

Insider Buying and Selling at C3.ai

In other C3.ai news, VP Merel Witteveen sold 11,132 shares of C3.ai 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 sale, the vice president now owns 4,142 shares of the company’s stock, valued at $144,762.90. The trade was a 72.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Hitesh Lath sold 11,339 shares of the business’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $42.00, for a total transaction of $476,238.00. Following the transaction, the chief financial officer now owns 851 shares in the company, valued at $35,742. The trade was a 93.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 668,721 shares of company stock valued at $28,425,151 over the last ninety days. Corporate insiders own 33.54% of the company’s stock.

Hedge Funds Weigh In On C3.ai

Several large investors have recently modified their holdings of AI. JTC Employer Solutions Trustee Ltd purchased a new position in shares of C3.ai in the third quarter valued at approximately $25,000. Northwestern Mutual Wealth Management Co. grew its stake in shares of C3.ai by 311.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,050 shares of the company’s stock worth $30,000 after acquiring an additional 795 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of C3.ai during the second quarter worth $41,000. Quest Partners LLC raised its stake in shares of C3.ai by 9,033.3% in the third quarter. Quest Partners LLC now owns 1,644 shares of the company’s stock valued at $40,000 after acquiring an additional 1,626 shares in the last quarter. Finally, Arcadia Investment Management Corp MI purchased a new position in C3.ai in the third quarter valued at $48,000. Institutional investors and hedge funds 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.