C3.ai (NYSE:AI) CFO Sells $136,927.04 in Stock

C3.ai, Inc. (NYSE:AI) CFO Hitesh Lath sold 15,248 shares of the company’s stock in a transaction on Monday, March 16th. The stock was sold at an average price of $8.98, for a total transaction of $136,927.04. Following the completion of the transaction, the chief financial officer directly owned 238,308 shares in the company, valued at $2,140,005.84. This trade represents a 6.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

C3.ai Stock Performance

Shares of NYSE:AI traded up $0.02 during midday trading on Tuesday, hitting $8.82. 4,170,700 shares of the stock were exchanged, compared to its average volume of 7,318,446. The company has a market capitalization of $1.24 billion, a PE ratio of -2.80 and a beta of 2.05. C3.ai, Inc. has a 52-week low of $7.72 and a 52-week high of $30.24. The business’s fifty day simple moving average is $11.17 and its two-hundred day simple moving average is $14.36.

C3.ai (NYSE:AI) last issued its earnings results on Wednesday, February 25th. The company reported ($0.40) EPS for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.11). C3.ai had a negative net margin of 141.35% and a negative return on equity of 55.40%. The firm had revenue of $53.26 million during the quarter, compared to analysts’ expectations of $75.91 million. During the same quarter last year, the firm earned ($0.12) EPS. The business’s revenue for the quarter was down 46.1% compared to the same quarter last year. As a group, equities analysts anticipate that C3.ai, Inc. will post -2.44 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. ProShare Advisors LLC lifted its holdings in C3.ai by 2.4% in the 2nd quarter. ProShare Advisors LLC now owns 25,548 shares of the company’s stock worth $628,000 after purchasing an additional 593 shares during the last quarter. Ameritas Investment Partners Inc. grew its holdings in C3.ai by 6.8% during the second quarter. Ameritas Investment Partners Inc. now owns 12,365 shares of the company’s stock valued at $304,000 after purchasing an additional 791 shares during the last quarter. NewEdge Advisors LLC grew its holdings in C3.ai by 48.7% during the first quarter. NewEdge Advisors LLC now owns 2,442 shares of the company’s stock valued at $51,000 after purchasing an additional 800 shares during the last quarter. Parallel Advisors LLC raised its position in shares of C3.ai by 76.4% in the third quarter. Parallel Advisors LLC now owns 1,849 shares of the company’s stock valued at $32,000 after purchasing an additional 801 shares during the period. Finally, BOKF NA raised its position in shares of C3.ai by 20.7% in the third quarter. BOKF NA now owns 4,709 shares of the company’s stock valued at $82,000 after purchasing an additional 809 shares during the period. 38.96% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

AI has been the topic of a number of research reports. Needham & Company LLC restated a “hold” rating on shares of C3.ai in a report on Thursday, December 4th. Wedbush reduced their target price on shares of C3.ai from $20.00 to $15.00 and set an “outperform” rating for the company in a research note on Thursday, February 26th. Canaccord Genuity Group decreased their target price on shares of C3.ai from $16.00 to $7.00 and set a “hold” rating for the company in a research report on Thursday, February 26th. DA Davidson dropped their price target on shares of C3.ai from $13.00 to $7.00 and set an “underperform” rating on the stock in a research note on Thursday, February 26th. Finally, Bank of America set a $10.00 price target on shares of C3.ai in a report on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, seven have assigned a Hold rating and six have assigned a Sell rating to the company. According to data from MarketBeat.com, C3.ai presently has a consensus rating of “Reduce” and a consensus price target of $15.87.

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.