C3.ai (NYSE:AI) Stock Price Up 0.8% – Still a Buy?

C3.ai, Inc. (NYSE:AI)’s share price shot up 0.8% during mid-day trading on Friday . The stock traded as high as $36.03 and last traded at $35.75. 3,119,862 shares changed hands during mid-day trading, a decline of 48% from the average session volume of 6,035,588 shares. The stock had previously closed at $35.45.

Analyst Upgrades and Downgrades

AI has been the subject of several recent research reports. JMP Securities boosted their price objective on C3.ai from $40.00 to $55.00 and gave the stock a “market outperform” rating in a report on Tuesday, December 10th. Canaccord Genuity Group increased their price objective on shares of C3.ai from $23.00 to $40.00 and gave the company a “hold” rating in a report on Wednesday, December 11th. Oppenheimer reaffirmed an “outperform” rating and set a $40.00 target price on shares of C3.ai in a report on Thursday, September 5th. StockNews.com raised C3.ai to a “sell” rating in a research note on Tuesday, November 26th. Finally, Piper Sandler raised their price target on C3.ai from $24.00 to $42.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Five analysts have rated the stock with a sell rating, five have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $35.00.

C3.ai Trading Up 2.5 %

The company has a fifty day moving average price of $31.78 and a two-hundred day moving average price of $28.07. The firm has a market cap of $4.62 billion, a P/E ratio of -16.44 and a beta of 2.00.

Insider Buying and Selling at C3.ai

In related news, Director John E. Hyten sold 5,000 shares of C3.ai stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $38.37, for a total value of $191,850.00. Following the sale, the director now owns 263,843 shares of the company’s stock, valued at approximately $10,123,655.91. This trade represents a 1.86 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Hitesh Lath sold 11,339 shares of the company’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 transaction, the chief financial officer now directly owns 851 shares of the company’s stock, valued at approximately $35,742. This trade represents a 93.02 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 644,988 shares of company stock valued at $27,597,453. 33.54% of the stock is currently owned by corporate insiders.

Institutional Trading of C3.ai

A number of hedge funds and other institutional investors have recently made changes to their positions in AI. Geode Capital Management LLC grew its holdings in shares of C3.ai by 8.8% in the 3rd quarter. Geode Capital Management LLC now owns 2,216,925 shares of the company’s stock valued at $53,728,000 after acquiring an additional 178,870 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new position in C3.ai in the second quarter valued at approximately $3,465,000. Charles Schwab Investment Management Inc. increased its position in shares of C3.ai by 12.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 844,389 shares of the company’s stock worth $20,460,000 after purchasing an additional 92,280 shares during the last quarter. Hodges Capital Management Inc. bought a new stake in shares of C3.ai during the 3rd quarter worth approximately $1,955,000. Finally, Hsbc Holdings PLC boosted its holdings in shares of C3.ai by 679.8% in the 2nd quarter. Hsbc Holdings PLC now owns 87,092 shares of the company’s stock valued at $2,500,000 after buying an additional 75,923 shares during the last quarter. 38.96% of the stock is currently owned by institutional investors and hedge funds.

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.