Insider Selling: C3.ai, Inc. (NYSE:AI) VP Sells 4,951 Shares of Stock

C3.ai, Inc. (NYSE:AI - Get Free Report) VP Merel Witteveen sold 4,951 shares of the business's stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $27.63, for a total transaction of $136,796.13. Following the completion of the sale, the vice president now owns 7,810 shares of the company's stock, valued at approximately $215,790.30. This represents a 38.80% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

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

• 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 stock was 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 stock was sold at an average price of $22.25, for a total transaction of $25,209.25.

C3.ai Price Performance

Shares of AI traded up $0.59 during mid-day trading on Friday, reaching $25.93. The stock had a trading volume of 6,017,470 shares, compared to its average volume of 5,210,899. C3.ai, Inc. has a 52-week low of $17.03 and a 52-week high of $45.08. The business's fifty day moving average is $22.14 and its 200 day moving average is $28.26. The firm has a market cap of $3.44 billion, a price-to-earnings ratio of -11.73 and a beta of 2.04.

C3.ai (NYSE:AI - Get Free Report) last announced its quarterly earnings data on Wednesday, May 28th. The company reported ($0.16) earnings per share (EPS) 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 firm had revenue of $108.72 million during the quarter, compared to analyst estimates of $107.85 million. During the same quarter in the prior 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, sell-side analysts anticipate that C3.ai, Inc. will post -2.44 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have weighed in on AI shares. KeyCorp reissued a "mixed" rating on shares of C3.ai in a research report on Thursday, May 29th. UBS Group reissued a "neutral" rating and set a $28.00 target price (up previously from $26.00) on shares of C3.ai in a research report on Thursday, May 29th. DA Davidson dropped their target price on shares of C3.ai from $25.00 to $18.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Needham & Company LLC reaffirmed a "hold" rating on shares of C3.ai in a report on Thursday, May 29th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of C3.ai from $27.00 to $23.00 and set an "underweight" rating on the stock in a 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 assigned a buy rating to the company. Based on data from MarketBeat.com, C3.ai presently has an average rating of "Hold" and an average target price of $29.46.

Institutional Investors Weigh In On C3.ai

Hedge funds have recently modified their holdings of the company. Charles Schwab Investment Management Inc. grew its holdings in shares of C3.ai by 10.5% in the fourth 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 period. SBI Securities Co. Ltd. purchased a new stake in shares of C3.ai in the fourth quarter valued at about $3,996,000. Susquehanna Fundamental Investments LLC purchased a new stake in shares of C3.ai in the fourth quarter valued at about $3,159,000. Vanguard Group Inc. grew its holdings in shares of C3.ai by 3.6% in the fourth quarter. Vanguard Group Inc. now owns 12,935,969 shares of the company's stock valued at $445,385,000 after purchasing an additional 446,529 shares during the period. Finally, Janney Montgomery Scott LLC boosted its stake in C3.ai by 70.9% during the fourth quarter. Janney Montgomery Scott LLC now owns 55,339 shares of the company's stock worth $1,905,000 after buying an additional 22,949 shares during the period. Hedge funds and other institutional investors own 38.96% of the company's stock.

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.