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

C3.ai, Inc. (NYSE:AI - Get Free Report) CFO Hitesh Lath sold 4,368 shares of C3.ai stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $29.45, for a total transaction of $128,637.60. Following the completion of the transaction, the chief financial officer now owns 250 shares in the company, valued at approximately $7,362.50. This trade represents a 94.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

C3.ai Trading Up 2.3%

Shares of NYSE AI traded up $0.59 on Friday, reaching $25.93. 6,017,470 shares of the company traded hands, compared to its average volume of 5,210,899. C3.ai, Inc. has a fifty-two week low of $17.03 and a fifty-two week high of $45.08. The stock has a market capitalization of $3.44 billion, a PE ratio of -11.73 and a beta of 2.04. The company has a 50 day moving average of $22.14 and a 200 day moving average of $28.26.

C3.ai (NYSE:AI - Get Free Report) last issued 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 return on equity of 31.31% and a negative net margin of 79.17%. The business 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 business earned ($0.11) EPS. The company's revenue for the quarter was up 25.5% on a year-over-year basis. As a group, research analysts expect that C3.ai, Inc. will post -2.44 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have recently issued reports on AI. Morgan Stanley lifted their price target on C3.ai from $20.00 to $22.00 and gave the stock an "underweight" rating in a research note on Thursday, May 29th. DA Davidson cut their target price on shares of C3.ai from $25.00 to $18.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Canaccord Genuity Group cut their target price on shares of C3.ai from $30.00 to $28.00 and set a "hold" rating for the company in a research note on Thursday, May 29th. Needham & Company LLC reissued a "hold" rating on shares of C3.ai in a research note on Thursday, May 29th. Finally, Oppenheimer cut their target price 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. Five analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $29.46.

Institutional Trading of C3.ai

Institutional investors have recently modified their holdings of the company. Brown Lisle Cummings Inc. grew its holdings 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 purchasing an additional 400 shares during the period. R Squared Ltd purchased a new stake in shares of C3.ai during the 4th quarter worth about $29,000. Garde Capital Inc. purchased a new stake in shares of C3.ai during the 1st quarter worth about $29,000. Russell Investments Group Ltd. grew its holdings 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 purchasing an additional 456 shares during the period. Finally, WealthTrak Capital Management LLC purchased a new position in C3.ai in the 4th quarter worth approximately $33,000. 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.