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 company's stock in a transaction on Thursday, May 29th. The stock was 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 $215,790.30. This represents a 38.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

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

• 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 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 transaction of $25,209.25.

C3.ai Stock Performance

NYSE AI traded up $0.76 during trading hours on Friday, reaching $26.10. The company's stock had a trading volume of 639,518 shares, compared to its average volume of 5,190,473. The stock has a market cap of $3.46 billion, a PE ratio of -11.77 and a beta of 2.04. The company's 50-day moving average is $22.14 and its two-hundred day moving average is $28.26. C3.ai, Inc. has a fifty-two week low of $17.03 and a fifty-two week high of $45.08.

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 the consensus estimate of ($0.20) by $0.04. C3.ai had a negative return on equity of 31.31% and a negative net margin of 79.17%. The company had revenue of $108.72 million during the quarter, compared to the consensus estimate of $107.85 million. During the same period last year, the firm earned ($0.11) earnings per share. The company's revenue was up 25.5% on a year-over-year basis. Equities analysts expect that C3.ai, Inc. will post -2.44 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on AI shares. Canaccord Genuity Group cut their price target 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. Oppenheimer cut their price objective on shares of C3.ai from $56.00 to $45.00 and set an "outperform" rating for the company in a research note 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 report on Thursday, May 29th. UBS Group reissued a "neutral" rating and set a $28.00 price objective (up from $26.00) on shares of C3.ai in a report on Thursday, May 29th. Finally, KeyCorp reiterated a "mixed" 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 issued a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $29.46.

Hedge Funds Weigh In On C3.ai

Institutional investors have recently bought and sold shares of the stock. Brown Lisle Cummings Inc. raised its holdings in C3.ai by 100.0% during the fourth quarter. Brown Lisle Cummings Inc. now owns 800 shares of the company's stock valued at $28,000 after buying an additional 400 shares in the last quarter. Russell Investments Group Ltd. raised its position in shares of C3.ai by 100.7% during the 4th quarter. Russell Investments Group Ltd. now owns 909 shares of the company's stock valued at $31,000 after acquiring an additional 456 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in C3.ai by 8.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 6,546 shares of the company's stock worth $138,000 after buying an additional 510 shares during the period. Legal & General Group Plc grew its holdings in shares of C3.ai by 0.4% in the 4th quarter. Legal & General Group Plc now owns 119,144 shares of the company's stock valued at $4,102,000 after acquiring an additional 517 shares in the last quarter. Finally, Corient Private Wealth LLC lifted its stake 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 purchasing an additional 555 shares during the last quarter. 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.