C3.ai, Inc. (NYSE:AI – Get Free Report)’s stock price traded down 0.1% during trading on Thursday . The stock traded as low as $25.80 and last traded at $26.43. 1,153,185 shares changed hands during trading, a decline of 82% from the average session volume of 6,311,565 shares. The stock had previously closed at $26.46.
Wall Street Analyst Weigh In
A number of equities analysts have issued reports on AI shares. Northland Securities raised C3.ai from a “market perform” rating to an “outperform” rating and set a $35.00 price target for the company in a research note on Thursday, May 30th. Needham & Company LLC restated a “hold” rating on shares of C3.ai in a research report on Thursday, May 30th. Canaccord Genuity Group reduced their target price on shares of C3.ai from $31.00 to $30.00 and set a “hold” rating for the company in a report on Thursday, May 30th. Northland Capmk upgraded C3.ai from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 30th. Finally, Wedbush restated an “outperform” rating and issued a $40.00 target price on shares of C3.ai in a report on Wednesday, May 29th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $30.33.
C3.ai Stock Up 2.9 %
The business has a 50-day moving average of $28.32 and a 200-day moving average of $27.11. The stock has a market cap of $3.40 billion, a price-to-earnings ratio of -11.29 and a beta of 1.83.
C3.ai (NYSE:AI – Get Free Report) last announced its quarterly earnings results on Wednesday, May 29th. The company reported ($0.59) EPS for the quarter, beating the consensus estimate of ($0.77) by $0.18. The business had revenue of $86.59 million during the quarter, compared to analysts’ expectations of $84.45 million. C3.ai had a negative return on equity of 30.95% and a negative net margin of 93.36%. Equities analysts anticipate that C3.ai, Inc. will post -2.35 earnings per share for the current year.
Insiders Place Their Bets
In other C3.ai news, CFO Hitesh Lath sold 3,005 shares of the business’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $27.56, for a total value of $82,817.80. Following the completion of the sale, the chief financial officer now owns 7,390 shares of the company’s stock, valued at $203,668.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 34.00% of the company’s stock.
Hedge Funds Weigh In On C3.ai
A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its stake in C3.ai by 3.1% in the 1st quarter. Vanguard Group Inc. now owns 10,647,900 shares of the company’s stock valued at $288,239,000 after buying an additional 317,768 shares during the last quarter. Coatue Management LLC increased its stake in shares of C3.ai by 25.1% in the fourth quarter. Coatue Management LLC now owns 2,832,229 shares of the company’s stock worth $81,313,000 after purchasing an additional 568,369 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of C3.ai by 1.5% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,199,018 shares of the company’s stock worth $34,424,000 after purchasing an additional 17,915 shares during the period. Global Assets Advisory LLC lifted its position in shares of C3.ai by 2,547.8% during the 1st quarter. Global Assets Advisory LLC now owns 896,676 shares of the company’s stock worth $24,273,000 after purchasing an additional 862,811 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in C3.ai by 10.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 706,677 shares of the company’s stock valued at $20,289,000 after purchasing an additional 66,701 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.