C3.ai, Inc. (NYSE:AI) Director Stephen M. Ward, Jr. Sells 42,382 Shares

C3.ai, Inc. (NYSE:AI - Get Free Report) Director Stephen M. Ward, Jr. sold 42,382 shares of C3.ai stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $26.32, for a total transaction of $1,115,494.24. Following the sale, the director now directly owns 546,495 shares of the company's stock, valued at $14,383,748.40. This trade represents a 7.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

C3.ai Stock Performance

C3.ai stock traded down $0.50 during midday trading on Thursday, hitting $25.76. 3,734,440 shares of the company's stock were exchanged, compared to its average volume of 5,095,091. The stock has a 50-day moving average price of $22.06 and a two-hundred day moving average price of $28.27. C3.ai, Inc. has a 52-week low of $17.03 and a 52-week high of $45.08. The company has a market cap of $3.42 billion, a P/E ratio of -11.66 and a beta of 1.99.

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

Institutional Investors Weigh In On C3.ai

A number of large investors have recently modified their holdings of AI. Vanguard Group Inc. grew its stake in shares of C3.ai by 3.6% in the first quarter. Vanguard Group Inc. now owns 13,407,490 shares of the company's stock worth $282,228,000 after acquiring an additional 471,521 shares during the last quarter. Geode Capital Management LLC grew its position in C3.ai by 14.1% during the 4th quarter. Geode Capital Management LLC now owns 2,529,991 shares of the company's stock valued at $87,128,000 after purchasing an additional 313,066 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in C3.ai by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,157,303 shares of the company's stock valued at $45,414,000 after purchasing an additional 91,923 shares in the last quarter. Two Sigma Investments LP purchased a new position in C3.ai in the fourth quarter worth about $42,306,000. Finally, Man Group plc bought a new position in shares of C3.ai in the fourth quarter worth approximately $38,455,000. Institutional investors own 38.96% of the company's stock.

Wall Street Analyst Weigh In

AI has been the subject of several analyst reports. Piper Sandler reduced their target price on C3.ai from $28.00 to $27.00 and set a "neutral" rating for the company in a report on Thursday, May 29th. DA Davidson decreased their price objective on C3.ai from $25.00 to $18.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. UBS Group reaffirmed a "neutral" rating and set a $28.00 price target (up from $26.00) on shares of C3.ai in a report on Thursday, May 29th. Needham & Company LLC reiterated a "hold" rating on shares of C3.ai in a report on Thursday, May 29th. Finally, Oppenheimer decreased their price objective on shares of C3.ai from $56.00 to $45.00 and set an "outperform" rating for the company in a report on Thursday, May 29th. Five equities research analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $29.46.

C3.ai Company Profile

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.