Insider Selling: C3.ai (NYSE:AI) CFO Sells $247,400.00 in Stock

C3.ai, Inc. (NYSE:AI) CFO Hitesh Lath sold 20,000 shares of the firm’s stock in a transaction on Monday, October 12th. The shares were sold at an average price of $12.37, for a total value of $247,400.00. Following the completion of the sale, the chief financial officer directly owned 305,250 shares in the company, valued at approximately $3,775,942.50. This represents a 6.15% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Hitesh Lath also recently made the following trade(s):

• On Wednesday, September 16th, Hitesh Lath sold 21,077 shares of C3.ai stock. The shares were sold at an average price of $10.48, for a total value of $220,886.96.
• On Tuesday, August 4th, Hitesh Lath sold 20,000 shares of C3.ai stock. The stock was sold at an average price of $10.00, for a total value of $200,000.00.

C3.ai Stock Performance

Shares of C3.ai stock traded down $0.83 during trading on Friday, reaching $11.32. 9,714,926 shares of the company’s stock were exchanged, compared to its average volume of 5,063,944. C3.ai, Inc. has a 1-year low of $7.68 and a 1-year high of $18.79. The company has a market cap of $1.82 billion, a P/E ratio of -3.68 and a beta of 2.11. The firm’s 50-day moving average price is $10.69 and its 200 day moving average price is $9.81.

C3.ai (NYSE:AI) last released its quarterly earnings data on Wednesday, September 2nd. The company reported ($0.20) earnings per share for the quarter, beating the consensus estimate of ($0.26) by $0.06. C3.ai had a negative return on equity of 61.25% and a negative net margin of 192.10%. The business had revenue of $52.38 million for the quarter, compared to analyst estimates of $52.06 million. During the same period last year, the firm posted ($0.37) earnings per share. C3.ai’s revenue was down 25.4% compared to the same quarter last year. As a group, equities research analysts predict that C3.ai, Inc. will post -2.21 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on AI shares. Canaccord Genuity Group reaffirmed a “hold” rating and set a $10.00 price target on shares of C3.ai in a report on Thursday, September 3rd. Citigroup reiterated a “market perform” rating on shares of C3.ai in a research report on Thursday, September 3rd. Weiss Ratings raised shares of C3.ai from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, August 4th. Wall Street Zen raised shares of C3.ai from a “sell” rating to a “hold” rating in a research note on Sunday, October 11th. Finally, Northland Securities set a $16.00 target price on shares of C3.ai and gave the company an “outperform” rating in a research report on Monday. Two investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and seven have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and an average target price of $9.36.

Institutional Investors Weigh In On C3.ai

A number of institutional investors have recently made changes to their positions in AI. Arizona State Retirement System raised its position in shares of C3.ai by 3.7% during the second quarter. Arizona State Retirement System now owns 37,168 shares of the company’s stock worth $338,000 after acquiring an additional 1,310 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its holdings in C3.ai by 12.7% in the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 13,776 shares of the company’s stock valued at $116,000 after acquiring an additional 1,548 shares during the last quarter. CoreCap Advisors LLC boosted its holdings in C3.ai by 34.0% in the second quarter. CoreCap Advisors LLC now owns 6,145 shares of the company’s stock valued at $56,000 after acquiring an additional 1,560 shares during the last quarter. Western Wealth Management LLC bought a new stake in C3.ai in the first quarter valued at approximately $26,000. Finally, Allworth Financial LP increased its position in C3.ai by 13.6% during the 2nd quarter. Allworth Financial LP now owns 26,660 shares of the company’s stock valued at $242,000 after purchasing an additional 3,185 shares during the period. Institutional investors own 38.96% of the company’s stock.

C3.ai Company Profile

C3.ai, Inc is an enterprise artificial intelligence software company that develops applications and tools designed to help organizations use AI and machine learning to analyze data, automate processes and support business decision-making. The company’s offerings are intended for large commercial enterprises, government agencies and other organizations managing complex operational and data environments.

Its product portfolio includes the C3 AI Platform, which provides capabilities for developing, deploying and operating AI applications, as well as prebuilt enterprise applications.