Hitesh Lath Sells 4,368 Shares of C3.ai, Inc. (NYSE:AI) Stock

C3.ai, Inc. (NYSE:AI - Get Free Report) CFO Hitesh Lath sold 4,368 shares of the stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $29.45, for a total value of $128,637.60. Following the transaction, the chief financial officer now directly owns 250 shares of the company's stock, valued at approximately $7,362.50. The trade was a 94.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

C3.ai Stock Down 2.6%

Shares of C3.ai stock traded down $0.68 during trading on Thursday, reaching $25.58. The company's stock had a trading volume of 3,947,933 shares, compared to its average volume of 5,201,590. The company has a 50-day simple moving average of $22.06 and a two-hundred day simple moving average of $28.27. C3.ai, Inc. has a 1-year low of $17.03 and a 1-year high of $45.08. The company has a market cap of $3.40 billion, a price-to-earnings ratio of -11.57 and a beta of 1.99.

C3.ai (NYSE:AI - Get Free Report) last issued its quarterly earnings results on Wednesday, May 28th. The company reported ($0.16) EPS for the quarter, topping analysts' consensus estimates 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 analysts' expectations of $107.85 million. During the same quarter in the previous year, the firm posted ($0.11) EPS. The firm's revenue was up 25.5% compared to the same quarter last year. As a group, analysts anticipate that C3.ai, Inc. will post -2.44 earnings per share for the current year.

Hedge Funds Weigh In On C3.ai

A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of C3.ai by 3.6% during the 1st quarter. Vanguard Group Inc. now owns 13,407,490 shares of the company's stock valued at $282,228,000 after buying an additional 471,521 shares during the last quarter. Geode Capital Management LLC increased 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 purchasing an additional 313,066 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of C3.ai by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,157,303 shares of the company's stock valued at $45,414,000 after purchasing an additional 91,923 shares in the last quarter. Two Sigma Investments LP purchased a new position in shares of C3.ai in the 4th quarter valued at about $42,306,000. Finally, Man Group plc purchased a new position in shares of C3.ai in the 4th quarter valued at about $38,455,000. Hedge funds and other institutional investors own 38.96% of the company's stock.

Wall Street Analyst Weigh In

AI has been the subject of several analyst reports. KeyCorp reaffirmed a "mixed" rating on shares of C3.ai in a research note on Thursday, May 29th. JPMorgan Chase & Co. reduced their price target on C3.ai from $27.00 to $23.00 and set an "underweight" rating on the stock in a report on Thursday, May 29th. Canaccord Genuity Group reduced their price objective on C3.ai from $30.00 to $28.00 and set a "hold" rating on the stock in a report on Thursday, May 29th. UBS Group restated 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, Oppenheimer reduced their price objective on C3.ai from $56.00 to $45.00 and set an "outperform" rating on the stock in a report on Thursday, May 29th. Five research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, C3.ai presently has an average 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.