C3.ai (NYSE:AI) CFO Sells $426,388.63 in Stock

by · The Cerbat Gem

C3.ai, Inc. (NYSE:AI – Get Free Report) CFO Hitesh Lath sold 48,619 shares of the firm’s stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $8.77, for a total value of $426,388.63. Following the transaction, the chief financial officer owned 383,106 shares of the company’s stock, valued at approximately $3,359,839.62. The trade was a 11.26% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

  • On Tuesday, June 16th, Hitesh Lath sold 34,210 shares of C3.ai stock. The stock was sold at an average price of $10.95, for a total value of $374,599.50.

C3.ai Stock Up 3.8%

C3.ai stock traded up $0.34 during midday trading on Wednesday, reaching $9.44. 5,214,170 shares of the stock traded hands, compared to its average volume of 6,479,280. The stock has a market cap of $1.37 billion, a P/E ratio of -2.82 and a beta of 2.04. The stock’s fifty day moving average is $9.69 and its 200-day moving average is $10.60. C3.ai, Inc. has a 12 month low of $7.68 and a 12 month high of $30.11.

C3.ai (NYSE:AI – Get Free Report) last released its quarterly earnings data on Wednesday, June 3rd. The company reported ($0.33) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.38) by $0.05. The business had revenue of $51.60 million for the quarter, compared to the consensus estimate of $51.60 million. C3.ai had a negative return on equity of 62.44% and a negative net margin of 187.95%.The company’s revenue was down 52.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.16) EPS. On average, equities analysts predict that C3.ai, Inc. will post -2.28 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on AI shares. Weiss Ratings downgraded shares of C3.ai from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, June 16th. DA Davidson restated an “underperform” rating and issued a $7.00 target price on shares of C3.ai in a report on Thursday, June 4th. KeyCorp restated an “underweight” rating on shares of C3.ai in a research report on Thursday, June 4th. Citizens Jmp reaffirmed a “market perform” rating on shares of C3.ai in a report on Thursday, June 4th. Finally, Wedbush reiterated an “outperform” rating and issued a $15.00 price target on shares of C3.ai in a research report on Thursday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, six have issued a Hold rating and six have assigned a Sell rating to the stock. According to MarketBeat, C3.ai currently has a consensus rating of “Reduce” and a consensus target price of $12.92.

Read Our Latest Stock Report on C3.ai

Institutional Inflows and Outflows

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

About C3.ai

(Get Free Report)

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.

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