C3.ai (NYSE:AI) Shares Up 1.3%

Shares of C3.ai, Inc. (NYSE:AI) traded up 1.3% on Thursday . The company traded as high as $28.03 and last traded at $28.01. 474,067 shares were traded during mid-day trading, a decline of 93% from the average session volume of 6,746,548 shares. The stock had previously closed at $27.64.

Analyst Ratings Changes

Several analysts have recently commented on AI shares. Northland Securities raised shares of C3.ai from a “market perform” rating to an “outperform” rating and set a $35.00 price objective for the company in a research report on Thursday, May 30th. Piper Sandler decreased their price target on shares of C3.ai from $33.00 to $29.00 and set a “neutral” rating for the company in a research note on Thursday, May 30th. Needham & Company LLC reiterated a “hold” rating on shares of C3.ai in a report on Thursday, May 30th. Wedbush restated an “outperform” rating and issued a $40.00 target price on shares of C3.ai in a research note on Wednesday, May 29th. Finally, Northland Capmk raised C3.ai from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 30th. Three analysts have rated the stock with a sell rating, five have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $31.30.

C3.ai Stock Up 1.4 %

The company’s fifty day moving average is $26.41 and its 200 day moving average is $27.16.

C3.ai (NYSE:AI) last issued its earnings results on Wednesday, May 29th. The company reported ($0.59) earnings per share for the quarter, beating the consensus estimate of ($0.77) by $0.18. C3.ai had a negative return on equity of 30.95% and a negative net margin of 93.36%. The company had revenue of $86.59 million during the quarter, compared to analysts’ expectations of $84.45 million. On average, analysts predict that C3.ai, Inc. will post -2.35 earnings per share for the current year.

Insider Transactions at C3.ai

In other news, CFO Hitesh Lath sold 3,005 shares of the business’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $27.56, for a total transaction of $82,817.80. Following the transaction, the chief financial officer now directly owns 7,390 shares of the company’s stock, valued at $203,668.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 34.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On C3.ai

Large investors have recently modified their holdings of the stock. DekaBank Deutsche Girozentrale purchased a new stake in C3.ai in the third quarter worth about $25,000. Orion Capital Management LLC purchased a new position in shares of C3.ai in the 3rd quarter valued at approximately $26,000. Toth Financial Advisory Corp boosted its position in shares of C3.ai by 900.0% during the first quarter. Toth Financial Advisory Corp now owns 1,000 shares of the company’s stock valued at $27,000 after purchasing an additional 900 shares in the last quarter. ICA Group Wealth Management LLC bought a new stake in shares of C3.ai during the fourth quarter valued at approximately $29,000. Finally, Comerica Bank raised its holdings in C3.ai by 305.1% in the first quarter. Comerica Bank now owns 1,203 shares of the company’s stock worth $33,000 after purchasing an additional 906 shares in the last quarter. 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.