C3.ai (NYSE:AI) CEO Sells $429,034.68 in Stock

Key Points

• CEO stock sale: C3.ai CEO Stephen Bradley Ehikian sold 52,194 shares on March 31 at an average of $8.22 for $429,034.68, reducing his stake by 6.75% to 721,485 shares valued at about $5.93 million.
• Weak results and market sentiment: The company missed Q earnings and revenue (EPS -$0.40 vs -$0.29 expected; revenue $53.26M, down 46.1% y/y), the stock trades around $8.62 with a $1.25B market cap, and analysts' consensus rating is "Reduce" with a $15.87 price target.

C3.ai, Inc. (NYSE:AI - Get Free Report) CEO Stephen Bradley Ehikian sold 52,194 shares of C3.ai stock in a transaction that occurred on Tuesday, March 31st. The stock was sold at an average price of $8.22, for a total value of $429,034.68. Following the sale, the chief executive officer owned 721,485 shares in the company, valued at $5,930,606.70. This represents a 6.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

C3.ai Stock Up 1.7%

Shares of C3.ai stock traded up $0.15 on Thursday, hitting $8.62. 897,662 shares of the company's stock traded hands, compared to its average volume of 6,802,031. C3.ai, Inc. has a 52-week low of $7.68 and a 52-week high of $30.24. The stock has a market cap of $1.25 billion, a P/E ratio of -2.73 and a beta of 2.08. The firm's 50-day moving average is $9.94 and its 200 day moving average is $13.71.

C3.ai (NYSE:AI - Get Free Report) last issued its quarterly earnings results on Wednesday, February 25th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.29) by ($0.11). C3.ai had a negative return on equity of 55.40% and a negative net margin of 141.35%.The company had revenue of $53.26 million during the quarter, compared to the consensus estimate of $75.91 million. During the same quarter last year, the firm posted ($0.12) EPS. The firm's quarterly revenue was down 46.1% on a year-over-year basis. Equities research analysts forecast that C3.ai, Inc. will post -2.44 EPS for the current year.

Hedge Funds Weigh In On C3.ai

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Silicon Valley Capital Partners acquired a new position in C3.ai during the 2nd quarter valued at about $25,000. Larson Financial Group LLC lifted its stake in shares of C3.ai by 683.6% in the 3rd quarter. Larson Financial Group LLC now owns 1,481 shares of the company's stock worth $26,000 after acquiring an additional 1,292 shares during the period. Parallel Advisors LLC boosted its holdings in shares of C3.ai by 76.4% in the third quarter. Parallel Advisors LLC now owns 1,849 shares of the company's stock valued at $32,000 after acquiring an additional 801 shares in the last quarter. Financial Consulate Inc. acquired a new position in shares of C3.ai during the third quarter valued at approximately $36,000. Finally, Farther Finance Advisors LLC increased its stake in shares of C3.ai by 66.1% during the fourth quarter. Farther Finance Advisors LLC now owns 2,141 shares of the company's stock valued at $29,000 after acquiring an additional 852 shares during the period. Institutional investors own 38.96% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on AI. Canaccord Genuity Group reduced their price target on shares of C3.ai from $16.00 to $7.00 and set a "hold" rating on the stock in a research report on Thursday, February 26th. UBS Group reissued a "reduce" rating on shares of C3.ai in a report on Thursday, February 26th. KeyCorp cut their price objective on C3.ai from $10.00 to $6.00 and set an "underweight" rating on the stock in a research note on Thursday, February 26th. DA Davidson decreased their target price on C3.ai from $13.00 to $7.00 and set an "underperform" rating for the company in a research report on Thursday, February 26th. Finally, Wolfe Research reaffirmed an "underperform" rating and set a $6.00 price target on shares of C3.ai in a report on Thursday, February 26th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, seven have given a Hold rating and six have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Reduce" and a consensus price target of $15.87.

About C3.ai

C3.ai, Inc is a leading enterprise software provider focused on delivering scalable artificial intelligence (AI) and Internet of Things (IoT) solutions to large organizations. The company's core offering, the C3 AI Suite, is a comprehensive, model-driven platform that unifies data ingestion, model development, and application deployment. Through its suite of tools, C3.ai enables customers to accelerate digital transformation initiatives by applying advanced machine learning, predictive analytics, and AI-driven insights across a broad range of business functions.

The C3 AI Suite provides a low-code environment for data scientists and application developers to rapidly design, test, and deploy enterprise-scale AI applications.

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