C3.ai (NYSE:AI) Stock Price Up 0.7% – Here’s What Happened

C3.ai, Inc. (NYSE:AI)’s stock price shot up 0.7% on Wednesday . The company traded as high as $36.06 and last traded at $35.71. 2,677,638 shares were traded during trading, a decline of 56% from the average session volume of 6,057,368 shares. The stock had previously closed at $35.46.

Wall Street Analyst Weigh In

AI has been the topic of a number of recent analyst reports. Piper Sandler boosted their price target on shares of C3.ai from $24.00 to $42.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Needham & Company LLC reissued a “hold” rating on shares of C3.ai in a research note on Tuesday, December 10th. Morgan Stanley lifted their target price on C3.ai from $21.00 to $32.00 and gave the stock an “underweight” rating in a report on Tuesday, December 10th. Oppenheimer reaffirmed an “outperform” rating and set a $40.00 price objective on shares of C3.ai in a research report on Thursday, September 5th. Finally, StockNews.com upgraded shares of C3.ai to a “sell” rating in a report on Tuesday, November 26th. Five equities research analysts have rated the stock with a sell rating, five have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, C3.ai currently has an average rating of “Hold” and a consensus target price of $35.00.

C3.ai Stock Up 0.7 %

The business’s 50-day moving average is $32.12 and its two-hundred day moving average is $28.13. The company has a market capitalization of $4.61 billion, a P/E ratio of -16.16 and a beta of 2.00.

Insider Transactions at C3.ai

In other C3.ai news, Director Jim H. Snabe sold 499,700 shares of the business’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $43.05, for a total value of $21,512,085.00. Following the sale, the director now directly owns 10,000 shares in the company, valued at $430,500. The trade was a 98.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director John E. Hyten sold 5,000 shares of C3.ai stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $38.37, for a total value of $191,850.00. Following the completion of the sale, the director now directly 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 disclosure for this sale can be found here. Insiders have sold 644,988 shares of company stock worth $27,597,453 in the last 90 days. Insiders own 33.54% of the company’s stock.

Institutional Trading of C3.ai

Hedge funds and other institutional investors have recently modified their holdings of the business. JTC Employer Solutions Trustee Ltd purchased a new position in C3.ai in the 3rd quarter valued at approximately $25,000. Northwestern Mutual Wealth Management Co. boosted its holdings 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 worth $30,000 after acquiring an additional 795 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of C3.ai during the 2nd quarter valued at $41,000. Quest Partners LLC lifted its holdings in C3.ai by 9,033.3% during the 3rd quarter. Quest Partners LLC now owns 1,644 shares of the company’s stock worth $40,000 after purchasing an additional 1,626 shares in the last quarter. Finally, Arcadia Investment Management Corp MI bought a new position in C3.ai in the 3rd quarter worth about $48,000. 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.