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

C3.ai (NYSE:AI)‘s stock had its “hold” rating reaffirmed by investment analysts at Needham & Company LLC in a research note issued on Thursday,Benzinga reports.

AI has been the topic of a number of other research reports. Northland Securities boosted their price objective on C3.ai from $35.00 to $45.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 10th. JMP Securities boosted their price objective on C3.ai from $40.00 to $55.00 and gave the stock a “market outperform” rating in a research note on Tuesday, December 10th. StockNews.com raised C3.ai to a “sell” rating in a research note on Tuesday, November 26th. DA Davidson raised C3.ai to a “hold” rating in a research note on Wednesday, December 18th. Finally, Piper Sandler boosted their price objective on C3.ai from $24.00 to $42.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Five investment analysts have rated the stock with a sell rating, five have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $33.67.

C3.ai Price Performance

Shares of AI stock opened at $26.43 on Thursday. The stock’s fifty day simple moving average is $32.88 and its 200 day simple moving average is $29.59. The firm has a market cap of $3.41 billion, a price-to-earnings ratio of -11.96 and a beta of 1.98. C3.ai has a one year low of $18.85 and a one year high of $45.08.

C3.ai (NYSE:AI) last announced its quarterly earnings results on Wednesday, February 26th. The company reported ($0.62) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.37). C3.ai had a negative net margin of 79.17% and a negative return on equity of 31.31%. On average, research analysts anticipate that C3.ai will post -2.44 earnings per share for the current year.

Insiders Place Their Bets

In other C3.ai news, CEO Thomas M. Siebel sold 552,422 shares of the stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $33.04, for a total value of $18,252,022.88. Following the sale, the chief executive officer now directly owns 1,336,968 shares in the company, valued at approximately $44,173,422.72. This trade represents a 29.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Richard C. Levin sold 12,000 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $29.84, for a total transaction of $358,080.00. Following the completion of the transaction, the director now directly owns 161,664 shares of the company’s stock, valued at $4,824,053.76. This trade represents a 6.91 % 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. Insiders own 33.54% of the company’s stock.

Institutional Trading of C3.ai

Several hedge funds have recently added to or reduced their stakes in the business. Brown Lisle Cummings Inc. increased its holdings in shares of C3.ai by 100.0% in the fourth quarter. Brown Lisle Cummings Inc. now owns 800 shares of the company’s stock worth $28,000 after acquiring an additional 400 shares in the last quarter. R Squared Ltd bought a new stake in C3.ai during the 4th quarter worth approximately $29,000. Russell Investments Group Ltd. increased its stake in C3.ai by 100.7% during the 4th quarter. Russell Investments Group Ltd. now owns 909 shares of the company’s stock worth $31,000 after purchasing an additional 456 shares in the last quarter. WealthTrak Capital Management LLC acquired a new stake in C3.ai during the 4th quarter worth approximately $33,000. Finally, CENTRAL TRUST Co acquired a new stake in C3.ai during the 4th quarter worth approximately $34,000. Institutional investors and hedge funds 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.