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

C3.ai, Inc. (NYSE:AI - Get Free Report) VP Merel Witteveen sold 5,485 shares of C3.ai stock in a transaction on Monday, June 16th. The stock was sold at an average price of $23.95, for a total transaction of $131,365.75. Following the sale, the vice president now owns 13,740 shares of the company's stock, valued at $329,073. The trade was a 28.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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 stock was sold at an average price of $23.56, for a total transaction of $18,965.80.
• On Monday, May 19th, Merel Witteveen sold 5,719 shares of C3.ai stock. The shares were sold at an average price of $23.32, for a total transaction 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 1.8%

Shares of NYSE AI traded down $0.44 during midday trading on Tuesday, hitting $24.01. The stock had a trading volume of 4,776,660 shares, compared to its average volume of 5,189,382. C3.ai, Inc. has a 1 year low of $17.03 and a 1 year high of $45.08. The company has a market capitalization of $3.19 billion, a PE ratio of -10.72 and a beta of 2.04. The stock has a 50 day simple moving average of $22.87 and a 200-day simple moving average of $27.63.

C3.ai (NYSE:AI - Get Free Report) last posted 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. The firm had revenue of $108.72 million for the quarter, compared to analyst estimates of $107.85 million. C3.ai had a negative net margin of 74.21% and a negative return on equity of 33.25%. C3.ai's quarterly revenue was up 25.5% on a year-over-year basis. During the same period in the previous year, the business posted ($0.11) earnings per share. As a group, analysts expect that C3.ai, Inc. will post -2.44 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in AI. Charles Schwab Investment Management Inc. lifted its stake in shares of C3.ai by 10.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 933,139 shares of the company's stock valued at $32,128,000 after purchasing an additional 88,750 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in C3.ai in the fourth quarter valued at about $3,996,000. Susquehanna Fundamental Investments LLC purchased a new position in C3.ai during the fourth quarter worth about $3,159,000. Vanguard Group Inc. increased its position in shares of C3.ai by 3.6% during the fourth quarter. Vanguard Group Inc. now owns 12,935,969 shares of the company's stock valued at $445,385,000 after acquiring an additional 446,529 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of C3.ai by 14.1% in the 4th quarter. Geode Capital Management LLC now owns 2,529,991 shares of the company's stock valued at $87,128,000 after acquiring an additional 313,066 shares during the period. 38.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently commented on AI. DA Davidson dropped their target price on C3.ai from $25.00 to $18.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Canaccord Genuity Group cut their target price on shares of C3.ai from $30.00 to $28.00 and set a "hold" rating for the company in a report on Thursday, May 29th. UBS Group reissued 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. Morgan Stanley upped their price objective on shares of C3.ai from $20.00 to $22.00 and gave the stock an "underweight" rating in a research report on Thursday, May 29th. Finally, Needham & Company LLC restated a "hold" rating on shares of C3.ai in a research report on Thursday, May 29th. Five investment analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $29.46.

About C3.ai

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.

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