Brokerages Set C3.ai, Inc. (NYSE:AI) PT at $35.00

Shares of C3.ai, Inc. (NYSE:AI) have received an average rating of “Hold” from the fourteen brokerages that are currently covering the firm, MarketBeat.com reports. Four equities 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 issued a strong buy rating on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $35.00.

AI has been the subject of a number of recent analyst reports. Needham & Company LLC restated a “hold” rating on shares of C3.ai in a report on Tuesday, December 10th. DA Davidson raised C3.ai to a “hold” rating in a research note on Wednesday, December 18th. StockNews.com raised C3.ai to a “sell” rating in a research note on Tuesday, November 26th. Morgan Stanley raised their price objective on C3.ai from $21.00 to $32.00 and gave the stock an “underweight” rating in a research report on Tuesday, December 10th. Finally, Piper Sandler upped their target price on shares of C3.ai from $24.00 to $42.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th.

Insider Activity at C3.ai

In other C3.ai news, CEO Thomas M. Siebel sold 409,831 shares of the firm’s stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $30.97, for a total value of $12,692,466.07. Following the completion of the transaction, the chief executive officer now owns 1,756,390 shares of the company’s stock, valued at $54,395,398.30. This trade represents a 18.92 % decrease in their position. The sale was disclosed in a 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 on 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 $430,500. This represents a 98.04 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,078,552 shares of company stock worth $41,117,617. Corporate insiders own 33.54% of the company’s stock.

Hedge Funds Weigh In On C3.ai

Several hedge funds and other institutional investors have recently made changes to their positions in AI. JTC Employer Solutions Trustee Ltd acquired a new stake in C3.ai in the third quarter valued at approximately $25,000. R Squared Ltd acquired a new stake in shares of C3.ai in the 4th quarter valued at $29,000. Northwestern Mutual Wealth Management Co. lifted 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 worth $30,000 after purchasing an additional 795 shares during the last quarter. CENTRAL TRUST Co acquired a new position in shares of C3.ai during the fourth quarter worth $34,000. Finally, Quest Partners LLC increased its holdings in 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 buying an additional 1,626 shares during the last quarter. Hedge funds and other institutional investors own 38.96% of the company’s stock.

C3.ai Trading Down 3.6 %

C3.ai stock opened at $32.82 on Friday. The company has a 50-day moving average price of $35.68 and a 200 day moving average price of $28.92. C3.ai has a 12-month low of $18.85 and a 12-month high of $45.08. The stock has a market cap of $4.24 billion, a P/E ratio of -14.85 and a beta of 2.00.

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.