C3.ai (NYSE:AI) Stock Price Up 1.2%

C3.ai, Inc. (NYSE:AI)’s stock price traded up 1.2% during mid-day trading on Tuesday . The stock traded as high as $28.44 and last traded at $28.38. 595,613 shares traded hands during trading, a decline of 91% from the average session volume of 6,356,623 shares. The stock had previously closed at $28.05.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Northland Securities raised C3.ai from a “market perform” rating to an “outperform” rating and set a $35.00 price target on the stock in a report on Thursday, May 30th. Northland Capmk raised shares of C3.ai from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 30th. Canaccord Genuity Group cut their target price on shares of C3.ai from $31.00 to $30.00 and set a “hold” rating for the company in a research note on Thursday, May 30th. Needham & Company LLC reiterated a “hold” rating on shares of C3.ai in a research note on Thursday, May 30th. Finally, Wedbush reissued an “outperform” rating and set a $40.00 price objective on shares of C3.ai in a report on Wednesday, May 29th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $30.33.

C3.ai Stock Performance

The stock has a market cap of $3.35 billion, a P/E ratio of -11.47 and a beta of 1.83. The stock’s fifty day moving average is $28.32 and its 200 day moving average is $27.11.

C3.ai (NYSE:AI) last issued 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 the consensus estimate of $84.45 million. C3.ai had a negative return on equity of 30.95% and a negative net margin of 93.36%. Equities research analysts predict that C3.ai, Inc. will post -2.35 EPS for the current year.

Insider Activity

In related news, CFO Hitesh Lath sold 3,005 shares of C3.ai stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $27.56, for a total transaction of $82,817.80. Following the completion of the transaction, the chief financial officer now directly owns 7,390 shares of the company’s stock, valued at approximately $203,668.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 34.00% of the company’s stock.

Institutional Investors Weigh In On C3.ai

Several hedge funds and other institutional investors have recently modified their holdings of AI. Global Assets Advisory LLC grew its position in C3.ai by 2,547.8% in the 1st quarter. Global Assets Advisory LLC now owns 896,676 shares of the company’s stock valued at $24,273,000 after acquiring an additional 862,811 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of C3.ai by 6.7% in the third quarter. Vanguard Group Inc. now owns 10,477,374 shares of the company’s stock worth $267,383,000 after purchasing an additional 659,986 shares during the last quarter. Coatue Management LLC increased its stake in C3.ai by 25.1% in the 4th 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 period. Norges Bank bought a new stake in C3.ai during the 4th quarter valued at about $10,879,000. Finally, Virtu Financial LLC boosted its position in C3.ai by 541.6% in the 1st quarter. Virtu Financial LLC now owns 108,720 shares of the company’s stock valued at $2,943,000 after buying an additional 91,774 shares during the period. 38.96% of the stock is currently owned by hedge funds and other institutional investors.

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.