C3.ai (NYSE:AI) Rating Lowered to Underweight at KeyCorp

KeyCorp lowered shares of C3.ai (NYSE:AI) from a sector weight rating to an underweight rating in a report published on Thursday morning, Marketbeat Ratings reports. They currently have $29.00 target price on the stock.

Several other analysts have also recently commented on AI. Canaccord Genuity Group increased their target price on C3.ai from $23.00 to $40.00 and gave the stock a “hold” rating in a report on Wednesday, December 11th. Oppenheimer restated an “outperform” rating and issued a $40.00 price objective on shares of C3.ai in a research report on Thursday, September 5th. Bank of America decreased their price target on shares of C3.ai from $24.00 to $20.00 and set an “underperform” rating on the stock in a research note on Thursday, September 5th. StockNews.com upgraded shares of C3.ai to a “sell” rating in a research report on Tuesday, November 26th. Finally, Piper Sandler Companies reiterated a “neutral” rating and issued a $24.00 price objective on shares of C3.ai in a research report on Thursday, September 5th. Five investment analysts have rated the stock with a sell rating, five have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $35.00.

C3.ai Trading Up 2.5 %

NYSE:AI opened at $36.34 on Thursday. The stock has a market capitalization of $4.62 billion, a P/E ratio of -16.44 and a beta of 2.00. C3.ai has a 1 year low of $18.85 and a 1 year high of $45.08. The firm has a 50 day moving average of $31.78 and a 200-day moving average of $28.07.

Insider Activity

In related news, CFO Hitesh Lath sold 11,339 shares of the business’s 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 $476,238.00. Following the completion of the transaction, the chief financial officer now directly owns 851 shares in the company, 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jim H. Snabe sold 499,700 shares of the business’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $43.05, for a total transaction of $21,512,085.00. Following the completion of 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 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 in the last ninety days. 33.54% of the stock is owned by insiders.

Hedge Funds Weigh In On C3.ai

A number of large investors have recently bought and sold shares of the company. Blue Trust Inc. raised its holdings in C3.ai by 148.9% during the second quarter. Blue Trust Inc. now owns 1,028 shares of the company’s stock worth $28,000 after acquiring an additional 615 shares in the last quarter. JTC Employer Solutions Trustee Ltd acquired a new position in C3.ai during the third quarter worth $25,000. Northwestern Mutual Wealth Management Co. raised its position in C3.ai by 311.8% during the second 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 in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of C3.ai in the 2nd quarter valued at about $41,000. Finally, Quest Partners LLC lifted its position in shares of 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. Institutional investors and hedge funds 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.