C3.ai (NYSE:AI) Rating Lowered to Underweight at KeyCorp

C3.ai (NYSE:AI) was downgraded by analysts at KeyCorp from a “sector weight” rating to an “underweight” rating in a research report issued on Thursday,Finviz reports. They currently have a $29.00 price target on the stock. KeyCorp’s price objective suggests a potential downside of 26.93% from the stock’s previous close.

Other equities analysts also recently issued research reports about the company. Oppenheimer reiterated an “outperform” rating and set a $40.00 price target on shares of C3.ai in a research note on Thursday, September 5th. JPMorgan Chase & Co. cut C3.ai from a “neutral” rating to an “underweight” rating and set a $28.00 target price on the stock. in a research report on Wednesday, December 11th. Wedbush decreased their price target on C3.ai from $40.00 to $30.00 and set an “outperform” rating for the company in a report on Thursday, September 5th. Bank of America dropped their price objective on C3.ai from $24.00 to $20.00 and set an “underperform” rating on the stock in a research note on Thursday, September 5th. Finally, DA Davidson upped their target price on shares of C3.ai from $20.00 to $35.00 and gave the stock a “neutral” rating in a research note on Thursday, December 5th. Five investment analysts have rated the stock with a sell rating, five have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $35.00.

C3.ai Trading Down 7.4 %

C3.ai stock opened at $39.69 on Thursday. The firm has a market capitalization of $5.04 billion, a price-to-earnings ratio of -17.96 and a beta of 2.00. The firm’s fifty day moving average price is $31.41 and its two-hundred day moving average price is $27.98. C3.ai has a 1-year low of $18.85 and a 1-year high of $45.08.

Insider Activity at C3.ai

In other C3.ai news, CFO Hitesh Lath sold 3,949 shares of the firm’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $42.36, for a total value of $167,279.64. Following the completion of the sale, the chief financial officer now directly owns 851 shares of the company’s stock, valued at $36,048.36. This trade represents a 82.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director John E. Hyten sold 5,000 shares of the company’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $38.37, for a total value of $191,850.00. Following the transaction, the director now directly owns 263,843 shares in the company, valued at $10,123,655.91. This represents a 1.86 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 145,288 shares of company stock worth $6,085,368. 33.54% of the stock is owned by company insiders.

Institutional Trading of C3.ai

Hedge funds and other institutional investors have recently modified their holdings of the business. JTC Employer Solutions Trustee Ltd purchased a new position in C3.ai during the 3rd quarter valued at about $25,000. Blue Trust Inc. lifted its stake in shares of C3.ai by 148.9% in the 2nd quarter. Blue Trust Inc. now owns 1,028 shares of the company’s stock valued at $28,000 after acquiring an additional 615 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in C3.ai by 311.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,050 shares of the company’s stock valued at $30,000 after purchasing an additional 795 shares during the last quarter. Quest Partners LLC boosted its stake in shares of C3.ai by 9,033.3% during the third quarter. Quest Partners LLC now owns 1,644 shares of the company’s stock valued at $40,000 after purchasing an additional 1,626 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of C3.ai in the second quarter worth approximately $41,000. Institutional investors 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.