C3.ai (NYSE:AI) Trading Up 0.3% – Still a Buy?

C3.ai, Inc. (NYSE:AI)’s share price traded up 0.3% during mid-day trading on Tuesday . The company traded as high as $35.90 and last traded at $35.56. 1,373,577 shares were traded during trading, a decline of 77% from the average session volume of 6,051,206 shares. The stock had previously closed at $35.46.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on AI shares. Wedbush lowered their price objective on shares of C3.ai from $40.00 to $30.00 and set an “outperform” rating for the company in a research note on Thursday, September 5th. Oppenheimer reaffirmed an “outperform” rating and set a $40.00 price target on shares of C3.ai in a research report on Thursday, September 5th. Needham & Company LLC reissued a “hold” rating on shares of C3.ai in a report on Tuesday, December 10th. Morgan Stanley lifted their target price on C3.ai from $21.00 to $32.00 and gave the stock an “underweight” rating in a report on Tuesday, December 10th. Finally, Bank of America cut their price target on shares of C3.ai from $24.00 to $20.00 and set an “underperform” rating on the stock in a report on Thursday, September 5th. Five investment 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.com, C3.ai has an average rating of “Hold” and an average price target of $35.00.

C3.ai Price Performance

The business’s fifty day simple moving average is $32.12 and its two-hundred day simple moving average is $28.13. The company has a market cap of $4.61 billion, a PE ratio of -16.16 and a beta of 2.00.

Insider Activity

In related news, Director Jim H. Snabe sold 499,700 shares of C3.ai stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $43.05, for a total value of $21,512,085.00. Following the sale, the director now directly owns 10,000 shares in the company, valued at approximately $430,500. The trade was a 98.04 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Hitesh Lath sold 3,949 shares of the business’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 value of $167,279.64. Following the sale, the chief financial officer now owns 851 shares of the company’s stock, valued at approximately $36,048.36. This trade represents a 82.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 644,988 shares of company stock worth $27,597,453 over the last three months. 33.54% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On C3.ai

Large investors have recently modified their holdings of the business. JTC Employer Solutions Trustee Ltd acquired a new stake in shares of C3.ai in the third quarter valued at approximately $25,000. Northwestern Mutual Wealth Management Co. increased its stake in shares of C3.ai by 311.8% in the 2nd 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 during the last quarter. Quest Partners LLC raised its holdings in shares of C3.ai by 9,033.3% during the 3rd quarter. Quest Partners LLC now owns 1,644 shares of the company’s stock worth $40,000 after acquiring an additional 1,626 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of C3.ai during the 2nd quarter valued at about $41,000. Finally, Arcadia Investment Management Corp MI purchased a new stake in shares of C3.ai in the third quarter valued at about $48,000. Hedge funds and other 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.