C3.ai (NYSE:AI) Upgraded at Wall Street Zen

C3.ai (NYSE:AI) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

A number of other equities analysts also recently commented on the stock. Westpark Capital upgraded shares of C3.ai to a “strong-buy” rating and set a $40.00 target price on the stock in a research note on Wednesday. Needham & Company LLC restated a “hold” rating on shares of C3.ai in a research note on Thursday, May 29th. DA Davidson dropped their target price on shares of C3.ai from $25.00 to $18.00 and set a “neutral” rating on the stock in a research note on Monday, April 14th. KeyCorp restated a “mixed” rating on shares of C3.ai in a research note on Thursday, May 29th. Finally, Oppenheimer dropped their target price on shares of C3.ai from $56.00 to $45.00 and set an “outperform” rating on the stock in a research note on Thursday, May 29th. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $30.14.

C3.ai Stock Down 1.9%

C3.ai stock opened at $26.29 on Friday. The company’s 50-day moving average price is $24.44 and its 200-day moving average price is $26.00. C3.ai has a twelve month low of $17.03 and a twelve month high of $45.08. The company has a market cap of $3.53 billion, a PE ratio of -11.74 and a beta of 1.99.

C3.ai (NYSE:AI) last posted its earnings results on Wednesday, May 28th. The company reported ($0.16) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.04. C3.ai had a negative net margin of 74.21% and a negative return on equity of 33.51%. The firm had revenue of $108.72 million for the quarter, compared to the consensus estimate of $107.85 million. During the same period in the previous year, the firm posted ($0.11) EPS. The business’s quarterly revenue was up 25.5% on a year-over-year basis. As a group, sell-side analysts expect that C3.ai will post -2.44 earnings per share for the current fiscal year.

Insider Transactions at C3.ai

In related news, Director John E. Hyten sold 10,000 shares of the firm’s stock in a transaction on Friday, June 13th. The shares were sold at an average price of $23.75, for a total transaction of $237,500.00. Following the sale, the director owned 63,942 shares in the company, valued at approximately $1,518,622.50. This trade represents a 13.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Hitesh Lath sold 17,689 shares of the firm’s stock in a transaction on Friday, June 27th. The shares were sold at an average price of $24.96, for a total transaction of $441,517.44. Following the sale, the chief financial officer owned 166,218 shares in the company, valued at approximately $4,148,801.28. This represents a 9.62% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,770,419 shares of company stock valued at $41,992,834. 33.54% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On C3.ai

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. lifted its holdings in C3.ai by 10.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 933,139 shares of the company’s stock valued at $32,128,000 after purchasing an additional 88,750 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in C3.ai during the fourth quarter valued at $3,159,000. Vanguard Group Inc. lifted its holdings in C3.ai by 3.6% during the fourth quarter. Vanguard Group Inc. now owns 12,935,969 shares of the company’s stock valued at $445,385,000 after purchasing an additional 446,529 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of C3.ai by 4,846.5% in the first quarter. GAMMA Investing LLC now owns 12,020 shares of the company’s stock worth $253,000 after buying an additional 11,777 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of C3.ai by 14.1% in the fourth quarter. Geode Capital Management LLC now owns 2,529,991 shares of the company’s stock worth $87,128,000 after buying an additional 313,066 shares in the last quarter. 38.96% of the stock is owned by hedge funds and other institutional investors.

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.