C3.ai (NYSE:AI) Price Target Raised to $42.00

C3.ai (NYSE:AI) had its price target increased by Piper Sandler from $24.00 to $42.00 in a report released on Tuesday,Benzinga reports. They currently have a neutral rating on the stock.

Other equities research analysts have also issued research reports about the company. Wedbush lowered their price objective on C3.ai from $40.00 to $30.00 and set an “outperform” rating on the stock in a report on Thursday, September 5th. Canaccord Genuity Group reduced their price target on C3.ai from $30.00 to $23.00 and set a “hold” rating for the company in a report on Thursday, September 5th. JMP Securities reaffirmed a “market outperform” rating and set a $40.00 price objective on shares of C3.ai in a report on Thursday, September 5th. Oppenheimer reissued an “outperform” rating and issued a $40.00 target price on shares of C3.ai in a report on Thursday, September 5th. Finally, Piper Sandler Companies restated a “neutral” rating and set a $24.00 target price on shares of C3.ai in a research report on Thursday, September 5th. Four analysts have rated the stock with a sell rating, five have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, C3.ai has an average rating of “Hold” and a consensus target price of $35.55.

C3.ai Stock Performance

AI stock opened at $38.24 on Tuesday. The stock has a market capitalization of $4.86 billion, a PE ratio of -17.30 and a beta of 1.99. The company has a fifty day moving average of $30.08 and a 200-day moving average of $27.54. C3.ai has a one year low of $18.85 and a one year high of $45.08.

Insider Buying and Selling

In related news, CFO Hitesh Lath sold 11,339 shares of the business’s stock in a transaction dated Monday, December 9th. The shares were 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 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 this hyperlink. Also, Director Stephen M. Ward, Jr. sold 125,000 shares of the company’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 owns 546,495 shares in the company, valued at approximately $22,952,790. This trade represents a 18.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 33.54% of the company’s stock.

Institutional Investors Weigh In On C3.ai

Hedge funds and other institutional investors have recently modified their holdings of the company. JTC Employer Solutions Trustee Ltd acquired a new stake in C3.ai during the third quarter worth approximately $25,000. Blue Trust Inc. raised its holdings in C3.ai by 148.9% in the 2nd quarter. Blue Trust Inc. now owns 1,028 shares of the company’s stock valued at $28,000 after acquiring an additional 615 shares during the last quarter. Unique Wealth Strategies LLC purchased a new position in shares of C3.ai during the 2nd quarter worth $28,000. Hobbs Group Advisors LLC acquired a new stake in shares of C3.ai during the second quarter worth $29,000. Finally, Northwestern Mutual Wealth Management Co. grew its position in shares of C3.ai by 311.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,050 shares of the company’s stock valued at $30,000 after purchasing an additional 795 shares during the period. 38.96% of the stock is currently owned by hedge funds and other institutional investors.

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.