C3.ai, Inc. (NYSE:AI – Get Free Report)’s share price gapped down prior to trading on Friday after Wedbush lowered their price target on the stock from $42.00 to $35.00. The stock had previously closed at $36.97, but opened at $35.66. Wedbush currently has an overweight rating on the stock. C3.ai shares last traded at $34.23, with a volume of 4,154,909 shares traded.
AI has been the topic of a number of other reports. Bank of America increased their price target on shares of C3.ai from $18.00 to $20.00 and gave the company an “underperform” rating in a research report on Thursday. Oppenheimer raised C3.ai from a “market perform” rating to an “outperform” rating and set a $40.00 price objective for the company in a research report on Tuesday, November 21st. Piper Sandler reduced their price target on C3.ai from $28.00 to $27.00 and set a “neutral” rating for the company in a report on Thursday, December 7th. DA Davidson reduced their price target on C3.ai from $30.00 to $28.00 and set a “neutral” rating for the company in a report on Thursday, December 7th. Finally, StockNews.com upgraded C3.ai to a “sell” rating in a report on Tuesday, November 21st. Four research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $28.25.
Insider Buying and Selling
In other C3.ai news, CFO Juho Parkkinen sold 5,513 shares of the stock in a transaction dated Monday, December 18th. The stock was sold at an average price of $30.56, for a total value of $168,477.28. Following the completion of the sale, the chief financial officer now directly owns 296,907 shares in the company, valued at $9,073,477.92. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, CFO Juho Parkkinen sold 5,513 shares of the stock in a transaction dated Monday, December 18th. The stock was sold at an average price of $30.56, for a total value of $168,477.28. Following the transaction, the chief financial officer now directly owns 296,907 shares of the company’s stock, valued at $9,073,477.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Edward Y. Abbo sold 45,548 shares of the firm’s stock in a transaction dated Monday, December 18th. The stock was sold at an average price of $30.73, for a total value of $1,399,690.04. Following the sale, the chief technology officer now directly owns 727,373 shares in the company, valued at $22,352,172.29. The disclosure for this sale can be found here. Insiders sold 61,931 shares of company stock worth $1,876,191 in the last three months. 34.00% of the stock is owned by insiders.
Institutional Trading of C3.ai
Several hedge funds and other institutional investors have recently bought and sold shares of AI. Armstrong Advisory Group Inc. grew its holdings in C3.ai by 375.7% in the third quarter. Armstrong Advisory Group Inc. now owns 999 shares of the company’s stock valued at $25,000 after purchasing an additional 789 shares during the period. DekaBank Deutsche Girozentrale acquired a new stake in C3.ai in the third quarter valued at approximately $25,000. Lazard Asset Management LLC grew its holdings in C3.ai by 117.7% in the third quarter. Lazard Asset Management LLC now owns 986 shares of the company’s stock valued at $25,000 after purchasing an additional 533 shares during the period. Russell Investments Group Ltd. purchased a new position in shares of C3.ai in the first quarter valued at approximately $25,000. Finally, Point72 Hong Kong Ltd purchased a new position in shares of C3.ai in the second quarter valued at approximately $25,000. 38.96% of the stock is owned by institutional investors and hedge funds.
C3.ai Stock Down 3.0 %
The firm has a market cap of $4.30 billion, a PE ratio of -15.39 and a beta of 1.77. The firm has a 50-day moving average price of $27.63 and a two-hundred day moving average price of $27.75.
C3.ai (NYSE:AI – Get Free Report) last posted its earnings results on Wednesday, December 6th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.18) by $0.05. C3.ai had a negative return on equity of 29.39% and a negative net margin of 95.21%. The company had revenue of $73.20 million during the quarter, compared to analysts’ expectations of $74.33 million. During the same quarter last year, the firm earned ($0.63) earnings per share. The firm’s quarterly revenue was up 17.3% compared to the same quarter last year. Research analysts forecast that C3.ai, Inc. will post -2.54 earnings per share for the current fiscal year.
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.