C3.ai (NYSE:AI) Given “Hold” Rating at Needham & Company LLC

Needham & Company LLC reissued their hold rating on shares of C3.ai (NYSE:AI) in a research report sent to investors on Thursday,Benzinga reports.

Other analysts have also recently issued research reports about the stock. StockNews.com upgraded shares of C3.ai to a “sell” rating in a research note on Tuesday, November 26th. JPMorgan Chase & Co. cut C3.ai from a “neutral” rating to an “underweight” rating and set a $28.00 price objective for the company. in a report on Wednesday, December 11th. KeyCorp downgraded C3.ai from a “sector weight” rating to an “underweight” rating and set a $29.00 target price on the stock. in a research report on Thursday, December 19th. Morgan Stanley lifted their price target on C3.ai from $21.00 to $32.00 and gave the stock an “underweight” rating in a report on Tuesday, December 10th. Finally, JMP Securities upped their price objective on C3.ai from $40.00 to $55.00 and gave the company a “market outperform” rating in a report on Tuesday, December 10th. Five investment analysts have rated the stock with a sell rating, five have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, C3.ai presently has a consensus rating of “Hold” and an average price target of $31.33.

C3.ai Stock Down 10.0 %

Shares of NYSE AI opened at $23.80 on Thursday. The business’s 50 day moving average price is $32.65 and its two-hundred day moving average price is $29.55. The company has a market cap of $3.07 billion, a PE ratio of -10.77 and a beta of 1.98. C3.ai has a twelve month low of $18.85 and a twelve month high of $45.08.

C3.ai (NYSE:AI) last posted its earnings results on Wednesday, February 26th. The company reported ($0.62) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.37). C3.ai had a negative return on equity of 31.31% and a negative net margin of 79.17%. The business had revenue of $98.78 million for the quarter, compared to analyst estimates of $98.12 million. As a group, research analysts anticipate that C3.ai will post -2.44 EPS for the current fiscal year.

Insider Buying and Selling

In other C3.ai news, CFO Hitesh Lath sold 11,339 shares of the business’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $42.00, for a total transaction of $476,238.00. Following the completion of the transaction, the chief financial officer now owns 851 shares of the company’s stock, valued at approximately $35,742. The trade was a 93.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Thomas M. Siebel sold 552,422 shares of the firm’s stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $33.04, for a total transaction of $18,252,022.88. Following the completion of the sale, the chief executive officer now owns 1,336,968 shares in the company, valued at $44,173,422.72. This represents a 29.24 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,643,311 shares of company stock worth $59,736,620. Company insiders own 33.54% of the company’s stock.

Hedge Funds Weigh In On C3.ai

Several institutional investors and hedge funds have recently added to or reduced their stakes in AI. Two Sigma Investments LP bought a new stake in shares of C3.ai in the 4th quarter valued at about $42,306,000. Man Group plc acquired a new position in shares of C3.ai during the fourth quarter valued at about $38,455,000. Two Sigma Advisers LP bought a new position in C3.ai in the fourth quarter worth approximately $30,725,000. Renaissance Technologies LLC grew its position in C3.ai by 1,242.5% in the 4th quarter. Renaissance Technologies LLC now owns 718,231 shares of the company’s stock valued at $24,729,000 after purchasing an additional 664,731 shares during the period. Finally, Vanguard Group Inc. increased its position in shares of C3.ai by 3.6% during the fourth quarter. Vanguard Group Inc. now owns 12,935,969 shares of the company’s stock worth $445,385,000 after acquiring an additional 446,529 shares in the last quarter. 38.96% of the stock is currently owned by institutional investors and hedge funds.

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.