C3.ai’s (AI) Hold Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reaffirmed their hold rating on shares of C3.ai (NYSE:AI) in a research report report published on Tuesday,Benzinga reports.

Other equities research analysts have also issued research reports about the stock. Bank of America lowered their target price 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. Canaccord Genuity Group decreased their price objective on shares of C3.ai from $30.00 to $23.00 and set a “hold” rating on the stock in a research note on Thursday, September 5th. Oppenheimer reiterated an “outperform” rating and issued a $40.00 target price on shares of C3.ai in a research note on Thursday, September 5th. JMP Securities restated a “market outperform” rating and set a $40.00 price target on shares of C3.ai in a research report on Thursday, September 5th. Finally, Northland Securities lifted their price objective on C3.ai from $35.00 to $45.00 and gave the company an “outperform” rating in a research report on Tuesday. Four investment 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 company’s stock. According to MarketBeat, C3.ai currently has a consensus rating of “Hold” and an average price target of $35.55.

C3.ai Price Performance

Shares of NYSE:AI opened at $38.24 on Tuesday. The business’s fifty day moving average price is $30.08 and its two-hundred day moving average price is $27.54. C3.ai has a fifty-two week low of $18.85 and a fifty-two week high of $45.08. The stock has a market capitalization of $4.86 billion, a price-to-earnings ratio of -17.30 and a beta of 1.99.

Insider Activity

In other C3.ai news, CFO Hitesh Lath sold 11,339 shares of the business’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $42.00, for a total transaction of $476,238.00. Following the completion of the sale, the chief financial officer now directly owns 851 shares of the company’s stock, valued at approximately $35,742. The trade was a 93.02 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Stephen M. Ward, Jr. sold 125,000 shares of the firm’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $42.00, for a total transaction 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. This trade represents a 18.62 % decrease in their position. The disclosure for this sale can be found here. 33.54% of the stock is currently owned by insiders.

Institutional Trading of C3.ai

A number of institutional investors have recently bought and sold shares of AI. Hobbs Group Advisors LLC acquired a new position in shares of C3.ai in the 2nd quarter valued at $29,000. Unique Wealth Strategies LLC acquired a new position in C3.ai in the second quarter valued at about $28,000. Blue Trust Inc. lifted its stake in C3.ai by 148.9% in the second quarter. Blue Trust Inc. now owns 1,028 shares of the company’s stock valued at $28,000 after buying an additional 615 shares during the period. JTC Employer Solutions Trustee Ltd bought a new position in C3.ai during the third quarter worth about $25,000. Finally, Northwestern Mutual Wealth Management Co. grew 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 buying an additional 795 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.