C3.ai (NYSE:AI) Shares Rise 6.9% - Insights and Future Outlook

Shares of C3.ai, Inc. (NYSE:AI) increased by 6.9% on Monday, closing at $35.77 after peaking at $35.79. During the trading day, a total of 3,482,829 shares changed hands, reflecting a 23% drop from the average daily trading volume of 4,549,533 shares. Prior to this surge, the stock had closed at $33.48.

Analyst Ratings Changes

Recent activity from research analysts indicates a mixed stance on C3.ai's stock. On December 11th, JPMorgan Chase & Co. lowered its rating from "neutral" to "underweight" and set a target price of $28.00. Similarly, KeyCorp reduced its rating from "sector weight" to "underweight," with a price objective of $29.00, reflecting cautious outlooks regarding the stock.

Conversely, several institutions have taken a more favorable view. Canaccord Genuity Group raised its price target from $23.00 to $40.00, maintaining a "hold" rating, while JMP Securities increased their target from $40.00 to $55.00, rating the stock as "market outperform." Furthermore, Northland Securities boosted their target from $35.00 to $45.00, granting an "outperform" rating. As per MarketBeat.com, C3.ai has garnered a consensus rating of "Hold" among analysts, with an average price target standing at $35.00.

Market Overview

The company's market capitalization is currently at $4.53 billion, with a price-to-earnings ratio of -15.89 and a beta value of 1.98. The stock's performance has been consistent, as reflected by its 50-day moving average of $35.22 and a 200-day moving average of $29.17.

Insider Activity

In recent insider trading news, Director Jim H. Snabe sold 499,700 shares at an average price of $43.05 on December 17th, totaling approximately $21.5 million. post-sale, he retained 10,000 shares valued at roughly $430,500, reducing his ownership in the company by 98.04%.

Additionally, Director Richard C. Levin sold 12,000 shares at an average price of $29.84 on February 3rd, representing a total value of about $358,080. Following this transaction, Levin holds 161,664 shares, worth around $4.8 million, a decrease of 6.91% in his personal stake. In total, company insiders have divested 1,090,552 shares, valued at $41.5 million, over the past three months. Insiders currently own 33.54% of the company’s stock.

Institutional Investment Trends

Institutional investors are actively adjusting their stakes in C3.ai. AQR Capital Management LLC made a new investment during the second quarter worth approximately $249,000. Northwestern Mutual Wealth Management Co. reported a significant increase in their holdings by 311.8%, now owning 1,050 shares after purchasing an additional 795 shares in the last quarter, worth $30,000.

Other institutional investors, like Truist Financial Corp and Cetera Investment Advisers, also expanded their positions, indicating a growing interest in the company. Institutional ownership of C3.ai shares stands at 38.96%.

About C3.ai

C3.ai, Inc. operates in the field of enterprise artificial intelligence software across North America, Europe, the Middle East, Africa, and Asia Pacific. The company’s platform allows customers to develop and deploy enterprise AI applications efficiently, offering solutions like C3 AI Ex Machina for data analysis and C3 Generative AI Product Suite for information retrieval.

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