Merel Witteveen Sells 5,485 Shares of C3.ai, Inc. (NYSE:AI) Stock

C3.ai, Inc. (NYSE:AI - Get Free Report) VP Merel Witteveen sold 5,485 shares of the business's stock in a transaction on Monday, June 16th. The shares were sold at an average price of $23.95, for a total transaction of $131,365.75. Following the completion of the sale, the vice president now directly owns 13,740 shares of the company's stock, valued at approximately $329,073. This trade represents a 28.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Merel Witteveen also recently made the following trade(s):

• On Monday, June 9th, Merel Witteveen sold 1,710 shares of C3.ai stock. The stock was sold at an average price of $26.23, for a total transaction of $44,853.30.
• On Thursday, May 29th, Merel Witteveen sold 4,951 shares of C3.ai stock. The shares were sold at an average price of $27.63, for a total transaction of $136,796.13.
• On Tuesday, May 27th, Merel Witteveen sold 805 shares of C3.ai stock. The shares were sold at an average price of $23.56, for a total value of $18,965.80.
• On Monday, May 19th, Merel Witteveen sold 5,719 shares of C3.ai stock. The stock was sold at an average price of $23.32, for a total value of $133,367.08.
• On Wednesday, March 19th, Merel Witteveen sold 1,133 shares of C3.ai stock. The shares were sold at an average price of $22.25, for a total value of $25,209.25.

C3.ai Stock Down 2.2%

Shares of C3.ai stock traded down $0.53 during trading on Friday, hitting $23.63. 5,742,183 shares of the company were exchanged, compared to its average volume of 5,199,997. C3.ai, Inc. has a fifty-two week low of $17.03 and a fifty-two week high of $45.08. The firm has a 50 day moving average price of $23.13 and a 200 day moving average price of $27.41. The stock has a market capitalization of $3.14 billion, a price-to-earnings ratio of -10.55 and a beta of 2.04.

C3.ai (NYSE:AI - Get Free Report) last released its quarterly earnings results on Wednesday, May 28th. The company reported ($0.16) earnings per share for the quarter, topping analysts' consensus estimates of ($0.20) by $0.04. C3.ai had a negative return on equity of 33.25% and a negative net margin of 74.21%. The company had revenue of $108.72 million during the quarter, compared to analysts' expectations of $107.85 million. During the same period in the previous year, the firm posted ($0.11) earnings per share. The business's revenue for the quarter was up 25.5% compared to the same quarter last year. Analysts predict that C3.ai, Inc. will post -2.44 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AI. Russell Investments Group Ltd. raised its position in shares of C3.ai by 100.7% in the fourth quarter. Russell Investments Group Ltd. now owns 909 shares of the company's stock valued at $31,000 after buying an additional 456 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in C3.ai by 8.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 6,546 shares of the company's stock worth $138,000 after acquiring an additional 510 shares during the period. Legal & General Group Plc grew its stake in C3.ai by 0.4% in the 4th quarter. Legal & General Group Plc now owns 119,144 shares of the company's stock worth $4,102,000 after acquiring an additional 517 shares during the period. Corient Private Wealth LLC raised its holdings in C3.ai by 2.4% in the 4th quarter. Corient Private Wealth LLC now owns 23,371 shares of the company's stock valued at $805,000 after acquiring an additional 555 shares during the last quarter. Finally, CIBC Private Wealth Group LLC lifted its stake in shares of C3.ai by 35.7% during the 4th quarter. CIBC Private Wealth Group LLC now owns 2,128 shares of the company's stock worth $71,000 after purchasing an additional 560 shares during the period. 38.96% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on AI shares. JPMorgan Chase & Co. cut their price target on shares of C3.ai from $27.00 to $23.00 and set an "underweight" rating for the company in a report on Thursday, May 29th. Wall Street Zen lowered shares of C3.ai from a "hold" rating to a "sell" rating in a research report on Friday, June 6th. UBS Group reiterated a "neutral" rating and set a $28.00 price target (up from $26.00) on shares of C3.ai in a research report on Thursday, May 29th. Oppenheimer decreased their price target on C3.ai from $56.00 to $45.00 and set an "outperform" rating on the stock in a research note on Thursday, May 29th. Finally, DA Davidson dropped their price objective on C3.ai from $25.00 to $18.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Five research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, C3.ai presently has a consensus rating of "Hold" and an average 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.