Stephen Bradley Ehikian Sells 50,542 Shares of C3.ai (NYSE:AI) Stock

C3.ai, Inc. (NYSE:AI) CEO Stephen Bradley Ehikian sold 50,542 shares of the company’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $9.45, for a total value of $477,621.90. Following the completion of the transaction, the chief executive officer directly owned 651,130 shares of the company’s stock, valued at $6,153,178.50. This represents a 7.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

C3.ai Price Performance

Shares of NYSE AI opened at $9.07 on Friday. The company has a 50 day simple moving average of $9.68 and a 200 day simple moving average of $10.50. C3.ai, Inc. has a 1 year low of $7.68 and a 1 year high of $30.11. The firm has a market cap of $1.41 billion, a PE ratio of -2.71 and a beta of 2.06.

C3.ai (NYSE:AI) last posted its earnings results on Wednesday, June 3rd. The company reported ($0.33) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.38) by $0.05. C3.ai had a negative net margin of 187.95% and a negative return on equity of 62.44%. The firm had revenue of $51.60 million for the quarter, compared to analyst estimates of $51.60 million. During the same period in the previous year, the firm posted ($0.16) EPS. The company’s revenue for the quarter was down 52.5% compared to the same quarter last year. As a group, research analysts anticipate that C3.ai, Inc. will post -2.28 earnings per share for the current fiscal year.

Institutional Investors Weigh In On C3.ai

Large investors have recently modified their holdings of the company. Bank of America Corp DE lifted its holdings in C3.ai by 55.1% in the first quarter. Bank of America Corp DE now owns 3,282,183 shares of the company’s stock valued at $27,636,000 after buying an additional 1,166,302 shares during the period. Dimensional Fund Advisors LP boosted its position in C3.ai by 77.1% during the third quarter. Dimensional Fund Advisors LP now owns 1,804,188 shares of the company’s stock valued at $31,284,000 after acquiring an additional 785,508 shares during the last quarter. Two Sigma Investments LP acquired a new stake in C3.ai during the 3rd quarter worth about $13,379,000. Voloridge Investment Management LLC acquired a new stake in C3.ai during the 4th quarter worth about $9,183,000. Finally, Federated Hermes Inc. raised its position in shares of C3.ai by 93,578.8% in the 4th quarter. Federated Hermes Inc. now owns 675,424 shares of the company’s stock worth $9,105,000 after acquiring an additional 674,703 shares in the last quarter. 38.96% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently weighed in on AI. KeyCorp reissued an “underweight” rating on shares of C3.ai in a research note on Thursday, June 4th. DA Davidson reaffirmed an “underperform” rating and set a $7.00 target price on shares of C3.ai in a report on Thursday, June 4th. UBS Group upped their price target on C3.ai from $9.00 to $12.00 and gave the company a “neutral” rating in a research report on Thursday, June 4th. Canaccord Genuity Group increased their price target on C3.ai from $8.00 to $10.00 and gave the company a “hold” rating in a research note on Thursday, June 4th. Finally, Citizens Jmp reissued a “market perform” rating on shares of C3.ai in a research note on Thursday, June 4th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, six have assigned a Hold rating and six have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus target price of $12.92.

C3.ai Company Profile

C3.ai, Inc is a leading enterprise software provider focused on delivering scalable artificial intelligence (AI) and Internet of Things (IoT) solutions to large organizations. The company’s core offering, the C3 AI Suite, is a comprehensive, model-driven platform that unifies data ingestion, model development, and application deployment. Through its suite of tools, C3.ai enables customers to accelerate digital transformation initiatives by applying advanced machine learning, predictive analytics, and AI-driven insights across a broad range of business functions.

The C3 AI Suite provides a low-code environment for data scientists and application developers to rapidly design, test, and deploy enterprise-scale AI applications.