C3.ai (NYSE:AI) Trading Down 4.6% After Insider Selling

C3.ai, Inc. (NYSE:AI - Get Free Report) traded down 4.6% on Monday following insider selling activity. The company traded as low as $25.05 and last traded at $25.35. 1,750,616 shares were traded during trading, a decline of 66% from the average session volume of 5,175,432 shares. The stock had previously closed at $26.59.

Specifically, Director Richard C. Levin sold 6,000 shares of the business's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $26.31, for a total value of $157,860.00. Following the sale, the director now directly owns 161,664 shares of the company's stock, valued at approximately $4,253,379.84. The trade was a 3.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Richard C. Levin sold 36,000 shares of the business's stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $28.17, for a total transaction of $1,014,120.00. Following the completion of the sale, the director now directly owns 161,664 shares in the company, valued at $4,554,074.88. This represents a 18.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. In other news, 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 transaction, the vice president now directly owns 7,810 shares in the company, valued at $215,790.30. The trade was a 38.80% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Canaccord Genuity Group lowered their price objective on shares of C3.ai from $30.00 to $28.00 and set a "hold" rating on the stock in a research note on Thursday, May 29th. DA Davidson lowered their price objective on shares of C3.ai from $25.00 to $18.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Piper Sandler reduced their target price on shares of C3.ai from $28.00 to $27.00 and set a "neutral" rating for the company in a report on Thursday, May 29th. UBS Group reaffirmed a "neutral" rating and set a $28.00 target price (up previously from $26.00) on shares of C3.ai in a report on Thursday, May 29th. Finally, Morgan Stanley lifted their target price 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. Five research analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $29.46.

C3.ai Trading Up 2.4%

The stock's 50-day simple moving average is $21.97 and its 200-day simple moving average is $28.29. The stock has a market cap of $3.49 billion, a price-to-earnings ratio of -11.90 and a beta of 1.99.

C3.ai (NYSE:AI - Get Free Report) last announced its earnings results on Wednesday, May 28th. The company reported ($0.16) earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analyst estimates of $107.85 million. During the same quarter in the prior year, the business posted ($0.11) EPS. The business's revenue was up 25.5% compared to the same quarter last year. On average, equities research analysts forecast 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 made changes to their positions in AI. Brown Lisle Cummings Inc. boosted its position in shares of C3.ai by 100.0% during the 4th quarter. Brown Lisle Cummings Inc. now owns 800 shares of the company's stock worth $28,000 after acquiring an additional 400 shares in the last quarter. R Squared Ltd acquired a new stake in shares of C3.ai during the 4th quarter worth approximately $29,000. Garde Capital Inc. acquired a new stake in shares of C3.ai during the 1st quarter worth approximately $29,000. Russell Investments Group Ltd. boosted 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 worth $31,000 after acquiring an additional 456 shares in the last quarter. Finally, WealthTrak Capital Management LLC acquired a new stake in shares of C3.ai during the 4th quarter worth approximately $33,000. Institutional investors and hedge funds 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.