C3.ai, Inc. (NYSE:AI) Given Average Recommendation of “Hold” by Analysts

C3.ai, Inc. (NYSE:AI) has received a consensus recommendation of “Hold” from the fourteen brokerages that are presently covering the firm, MarketBeat Ratings reports. Four investment analysts have rated the stock with a sell recommendation, five have issued a hold recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $35.00.

Several equities research analysts recently commented on the company. StockNews.com upgraded C3.ai to a “sell” rating in a report on Tuesday, November 26th. Needham & Company LLC reiterated a “hold” rating on shares of C3.ai in a research note 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 target price for the company. in a research note on Wednesday, December 11th. Piper Sandler Companies reaffirmed a “neutral” rating and set a $24.00 price target on shares of C3.ai in a research note on Thursday, September 5th. Finally, Canaccord Genuity Group upped their price objective on shares of C3.ai from $23.00 to $40.00 and gave the company a “hold” rating in a research report on Wednesday, December 11th.

C3.ai Trading Down 4.3 %

Shares of NYSE AI opened at $35.73 on Tuesday. The stock has a fifty day moving average price of $32.74 and a 200 day moving average price of $28.26. C3.ai has a 12-month low of $18.85 and a 12-month high of $45.08. The company has a market cap of $4.61 billion, a P/E ratio of -16.17 and a beta of 2.00.

Insiders Place Their Bets

In other C3.ai news, Director Stephen M. Ward, Jr. sold 125,000 shares of C3.ai stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $42.00, for a total value of $5,250,000.00. Following the completion of the transaction, the director now directly owns 546,495 shares in the company, valued at $22,952,790. The trade was a 18.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Jim H. Snabe sold 499,700 shares of the company’s stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $43.05, for a total value of $21,512,085.00. Following the transaction, the director now directly owns 10,000 shares of the company’s stock, valued at $430,500. This trade represents a 98.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 644,988 shares of company stock valued at $27,597,453 over the last 90 days. 33.54% of the stock is owned by company insiders.

Hedge Funds Weigh In On C3.ai

Several hedge funds and other institutional investors have recently modified their holdings of AI. Geode Capital Management LLC raised its stake in C3.ai by 8.8% during the 3rd quarter. Geode Capital Management LLC now owns 2,216,925 shares of the company’s stock valued at $53,728,000 after acquiring an additional 178,870 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in shares of C3.ai during the second quarter valued at $3,465,000. Charles Schwab Investment Management Inc. raised its stake in shares of C3.ai by 12.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 844,389 shares of the company’s stock valued at $20,460,000 after purchasing an additional 92,280 shares in the last quarter. Hodges Capital Management Inc. bought a new stake in shares of C3.ai during the third quarter valued at about $1,955,000. Finally, Hsbc Holdings PLC lifted its holdings in C3.ai by 679.8% in the second quarter. Hsbc Holdings PLC now owns 87,092 shares of the company’s stock worth $2,500,000 after purchasing an additional 75,923 shares during the period. 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.