C3.ai, Inc. (NYSE:AI) CFO Sells $128,637.60 in Stock

by · The Markets Daily

C3.ai, Inc. (NYSE:AI – Get Free Report) CFO Hitesh Lath sold 4,368 shares of C3.ai stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $29.45, for a total transaction of $128,637.60. Following the completion of the sale, the chief financial officer now directly owns 250 shares in the company, valued at $7,362.50. This trade represents a 94.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

C3.ai Trading Up 2.4%

Shares of AI opened at $26.29 on Thursday. C3.ai, Inc. has a 12-month low of $17.03 and a 12-month high of $45.08. The company has a market cap of $3.49 billion, a PE ratio of -11.90 and a beta of 1.99. The stock has a 50-day moving average price of $22.06 and a 200-day moving average price of $28.27.

C3.ai (NYSE:AI – Get Free Report) last announced its earnings results on Wednesday, May 28th. The company reported ($0.16) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.04. C3.ai had a negative net margin of 79.17% and a negative return on equity of 31.31%. The business had revenue of $108.72 million for the quarter, compared to the consensus estimate of $107.85 million. During the same period last year, the firm posted ($0.11) earnings per share. C3.ai’s quarterly revenue was up 25.5% on a year-over-year basis. As a group, analysts predict that C3.ai, Inc. will post -2.44 earnings per share for the current year.

Institutional Trading of C3.ai

Institutional investors and hedge funds have recently made changes to their positions in the stock. Two Sigma Investments LP bought a new stake in shares of C3.ai during the 4th quarter worth $42,306,000. Man Group plc purchased a new stake in C3.ai during the fourth quarter valued at about $38,455,000. Two Sigma Advisers LP purchased a new stake in C3.ai during the fourth quarter valued at about $30,725,000. Renaissance Technologies LLC lifted its stake in C3.ai by 1,242.5% during the fourth quarter. Renaissance Technologies LLC now owns 718,231 shares of the company’s stock worth $24,729,000 after purchasing an additional 664,731 shares during the last quarter. Finally, Vident Advisory LLC lifted its stake in C3.ai by 3,935.9% during the first quarter. Vident Advisory LLC now owns 568,492 shares of the company’s stock worth $11,967,000 after purchasing an additional 554,406 shares during the last quarter. Hedge funds and other institutional investors own 38.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. JPMorgan Chase & Co. lowered their price objective on C3.ai from $27.00 to $23.00 and set an “underweight” rating on the stock in a research note on Thursday, May 29th. Canaccord Genuity Group reduced their target price on shares of C3.ai from $30.00 to $28.00 and set a “hold” rating for the company in a research note on Thursday, May 29th. KeyCorp reissued a “mixed” rating on shares of C3.ai in a research report on Thursday, May 29th. UBS Group reaffirmed a “neutral” rating and issued a $28.00 price objective (up from $26.00) on shares of C3.ai in a report on Thursday, May 29th. Finally, Morgan Stanley lifted their price objective on shares of C3.ai from $20.00 to $22.00 and gave the company an “underweight” rating in a research note on Thursday, May 29th. Five analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $29.46.

Read Our Latest Analysis on AI

C3.ai Company Profile

(Get Free Report)

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.

See Also