C3.ai (NYSE:AI) Reaches New 1-Year High at $48.87

Posted by Defense World Staff on Jun 18th, 2023

C3.ai, Inc. (NYSE:AI – Get Rating)’s stock price hit a new 52-week high during trading on Friday . The company traded as high as $48.87 and last traded at $46.34, with a volume of 8327687 shares changing hands. The stock had previously closed at $46.37.

Wall Street Analyst Weigh In

Several analysts have issued reports on AI shares. Bank of America raised their price objective on shares of C3.ai from $16.00 to $18.00 in a research note on Thursday, June 1st. Wolfe Research downgraded shares of C3.ai from a “market perform” rating to an “underperform” rating and set a $14.00 price objective for the company. in a research note on Monday, April 24th. Morgan Stanley raised their price objective on shares of C3.ai from $12.00 to $20.00 in a research note on Thursday, June 1st. Piper Jaffray Companies raised their target price on shares of C3.ai from $13.00 to $23.00 and gave the stock a “neutral” rating in a research report on Friday, March 3rd. Finally, Piper Sandler raised their target price on shares of C3.ai from $23.00 to $29.00 in a research report on Thursday, June 1st. Four analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $24.36.

C3.ai Price Performance

The company has a market capitalization of $4.99 billion, a PE ratio of -18.16 and a beta of 1.52. The company’s fifty day moving average is $27.00 and its 200-day moving average is $21.47.

Insider Activity at C3.ai

In related news, CFO Juho Parkkinen sold 4,438 shares of C3.ai stock in a transaction that occurred on Monday, May 1st. The shares were sold at an average price of $18.11, for a total transaction of $80,372.18. Following the transaction, the chief financial officer now directly owns 336,971 shares of the company’s stock, valued at $6,102,544.81. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other C3.ai news, CFO Juho Parkkinen sold 4,438 shares of the firm’s stock in a transaction that occurred on Monday, May 1st. The shares were sold at an average price of $18.11, for a total value of $80,372.18. Following the completion of the sale, the chief financial officer now directly owns 336,971 shares in the company, valued at $6,102,544.81. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Richard C. Levin sold 24,000 shares of the firm’s stock in a transaction that occurred on Friday, March 31st. The shares were sold at an average price of $30.04, for a total transaction of $720,960.00. Following the completion of the sale, the director now owns 209,664 shares of the company’s stock, valued at $6,298,306.56. The disclosure for this sale can be found here. Insiders have sold a total of 173,917 shares of company stock valued at $6,612,760 over the last ninety days. 38.08% of the stock is owned by company insiders.

Institutional Investors Weigh In On C3.ai

Institutional investors and hedge funds have recently made changes to their positions in the stock. HighTower Advisors LLC increased its stake in shares of C3.ai by 1.2% during the fourth quarter. HighTower Advisors LLC now owns 32,867 shares of the company’s stock worth $366,000 after purchasing an additional 384 shares in the last quarter. Arizona State Retirement System increased its stake in shares of C3.ai by 2.8% during the first quarter. Arizona State Retirement System now owns 22,814 shares of the company’s stock worth $766,000 after purchasing an additional 618 shares in the last quarter. CWM LLC increased its stake in shares of C3.ai by 42.0% during the first quarter. CWM LLC now owns 2,196 shares of the company’s stock worth $74,000 after purchasing an additional 649 shares in the last quarter. NewEdge Advisors LLC increased its stake in shares of C3.ai by 26.3% during the first quarter. NewEdge Advisors LLC now owns 3,341 shares of the company’s stock worth $112,000 after purchasing an additional 696 shares in the last quarter. Finally, US Bancorp DE increased its stake in shares of C3.ai by 15.2% during the first quarter. US Bancorp DE now owns 5,406 shares of the company’s stock worth $181,000 after purchasing an additional 715 shares in the last quarter. 41.97% of the stock is currently owned by institutional investors and hedge funds.

About C3.ai

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C3.ai, Inc operates as an enterprise artificial intelligence (AI) software company. The company provides software-as-a-service applications for enterprises. Its software solutions include C3 AI Suite, a platform-as-a-service application development and runtime environment that enables customers to design, develop, and deploy enterprise AI applications; and C3 AI Applications, which include industry-specific and application-specific turnkey AI solutions.