C3.ai (NYSE:AI) Shares Up 2.5% – What’s Next?

C3.ai, Inc. (NYSE:AI)’s share price shot up 2.5% during trading on Thursday . The stock traded as high as $37.09 and last traded at $36.60. 1,479,690 shares were traded during trading, a decline of 75% from the average session volume of 6,037,916 shares. The stock had previously closed at $35.71.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Piper Sandler Companies reaffirmed a “neutral” rating and issued a $24.00 price objective on shares of C3.ai in a report on Thursday, September 5th. StockNews.com upgraded C3.ai to a “sell” rating in a research report on Tuesday, November 26th. JMP Securities upped their price target on C3.ai from $40.00 to $55.00 and gave the company a “market outperform” rating in a research note on Tuesday, December 10th. Bank of America lowered their target price on shares of C3.ai from $24.00 to $20.00 and set an “underperform” rating for the company in a research note on Thursday, September 5th. Finally, Piper Sandler lifted their target price on shares of C3.ai from $24.00 to $42.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Five investment analysts have rated the stock with a sell rating, five have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $35.00.

C3.ai Stock Performance

The firm’s 50-day moving average price is $32.32 and its two-hundred day moving average price is $28.18. The firm has a market cap of $4.82 billion, a PE ratio of -16.91 and a beta of 2.00.

Insider Buying and Selling at C3.ai

In other C3.ai news, Director John E. Hyten sold 5,000 shares of the firm’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $38.37, for a total transaction of $191,850.00. Following the completion of the transaction, the director now owns 263,843 shares of the company’s stock, valued at approximately $10,123,655.91. This trade represents a 1.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Hitesh Lath sold 3,949 shares of the firm’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $42.36, for a total transaction of $167,279.64. Following the completion of the sale, the chief financial officer now directly owns 851 shares in the company, valued at $36,048.36. This represents a 82.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 644,988 shares of company stock worth $27,597,453. 33.54% of the stock is owned by insiders.

Hedge Funds Weigh In On C3.ai

Large investors have recently bought and sold shares of the business. JTC Employer Solutions Trustee Ltd bought a new stake in C3.ai in the 3rd quarter valued at about $25,000. Northwestern Mutual Wealth Management Co. increased its position in shares of C3.ai by 311.8% during the 2nd 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. Quest Partners LLC lifted its holdings in C3.ai by 9,033.3% in the 3rd 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 during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in C3.ai during the second quarter worth approximately $41,000. Finally, Arcadia Investment Management Corp MI acquired a new stake in shares of C3.ai during the third quarter worth $48,000. 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.