C3.ai (NYSE:AI) Stock Price Up 0.9%

Shares of C3.ai, Inc. (NYSE:AI) rose 0.9% during mid-day trading on Monday . The stock traded as high as $28.48 and last traded at $28.07. Approximately 746,062 shares changed hands during trading, a decline of 88% from the average daily volume of 6,387,368 shares. The stock had previously closed at $27.83.

Analyst Ratings Changes

AI has been the subject of several research reports. Needham & Company LLC restated a “hold” rating on shares of C3.ai in a research report on Thursday, May 30th. Wedbush reaffirmed an “outperform” rating and set a $40.00 target price on shares of C3.ai in a report on Wednesday, May 29th. Northland Securities raised shares of C3.ai from a “market perform” rating to an “outperform” rating and set a $35.00 target price on the stock in a report on Thursday, May 30th. Canaccord Genuity Group lowered their target price on shares of C3.ai from $31.00 to $30.00 and set a “hold” rating on the stock in a report on Thursday, May 30th. Finally, Morgan Stanley raised their target price on shares of C3.ai from $21.00 to $23.00 and gave the stock an “underweight” rating in a report on Thursday, May 30th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $31.30.

C3.ai Stock Up 0.8 %

The business’s 50 day moving average is $28.22 and its 200-day moving average is $27.11. The firm has a market capitalization of $3.50 billion, a P/E ratio of -12.11 and a beta of 1.83.

C3.ai (NYSE:AI) last announced its quarterly earnings data on Wednesday, May 29th. The company reported ($0.59) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.77) by $0.18. The business had revenue of $86.59 million for the quarter, compared to analysts’ expectations of $84.45 million. C3.ai had a negative net margin of 93.36% and a negative return on equity of 30.95%. Research analysts forecast that C3.ai, Inc. will post -2.35 EPS for the current fiscal year.

Insider Activity at C3.ai

In other C3.ai news, CFO Hitesh Lath sold 3,005 shares of the business’s stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $27.56, for a total transaction of $82,817.80. Following the sale, the chief financial officer now owns 7,390 shares of the company’s stock, valued at $203,668.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 34.00% of the stock is currently owned by insiders.

Institutional Trading of C3.ai

A number of hedge funds and other institutional investors have recently modified their holdings of AI. Global Assets Advisory LLC grew its stake in shares of C3.ai by 2,547.8% during the first quarter. Global Assets Advisory LLC now owns 896,676 shares of the company’s stock worth $24,273,000 after buying an additional 862,811 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of C3.ai by 6.7% during the third quarter. Vanguard Group Inc. now owns 10,477,374 shares of the company’s stock worth $267,383,000 after buying an additional 659,986 shares during the last quarter. Coatue Management LLC grew its stake in shares of C3.ai by 25.1% during the fourth quarter. Coatue Management LLC now owns 2,832,229 shares of the company’s stock worth $81,313,000 after buying an additional 568,369 shares during the last quarter. Norges Bank bought a new stake in shares of C3.ai during the fourth quarter worth $10,879,000. Finally, Virtu Financial LLC lifted its holdings in shares of C3.ai by 541.6% during the first quarter. Virtu Financial LLC now owns 108,720 shares of the company’s stock worth $2,943,000 after purchasing an additional 91,774 shares during the period. 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.