Insider Selling: C3.ai, Inc. (NYSE:AI) CFO Sells 17,689 Shares of Stock

C3.ai, Inc. (NYSE:AI - Get Free Report) CFO Hitesh Lath sold 17,689 shares of the business's stock in a transaction dated Friday, June 27th. The stock was sold at an average price of $24.96, for a total value of $441,517.44. Following the completion of the transaction, the chief financial officer directly owned 166,218 shares of the company's stock, valued at approximately $4,148,801.28. This trade represents a 9.62% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Hitesh Lath also recently made the following trade(s):

• On Monday, June 16th, Hitesh Lath sold 6,040 shares of C3.ai stock. The stock was sold at an average price of $24.19, for a total value of $146,107.60.
• On Thursday, May 29th, Hitesh Lath sold 4,368 shares of C3.ai stock. The shares were sold at an average price of $29.45, for a total transaction of $128,637.60.

C3.ai Price Performance

Shares of NYSE:AI traded down $0.07 on Thursday, reaching $25.75. The company's stock had a trading volume of 4,512,180 shares, compared to its average volume of 5,285,506. The stock has a market capitalization of $3.46 billion, a P/E ratio of -11.50 and a beta of 1.99. C3.ai, Inc. has a 52-week low of $17.03 and a 52-week high of $45.08. The stock's 50-day moving average is $23.88 and its two-hundred day moving average is $26.58.

C3.ai (NYSE:AI - Get Free Report) last posted its quarterly earnings data 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 33.51% and a negative net margin of 74.21%. The firm had revenue of $108.72 million during the quarter, compared to analysts' expectations of $107.85 million. During the same quarter last year, the business posted ($0.11) EPS. The firm's quarterly revenue was up 25.5% compared to the same quarter last year. Equities analysts forecast that C3.ai, Inc. will post -2.44 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

AI has been the topic of a number of recent research reports. UBS Group decreased their price target on shares of C3.ai from $28.00 to $27.00 and set a "neutral" rating on the stock in a research note on Thursday, June 26th. DA Davidson reduced their price objective 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 lowered 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. Oppenheimer cut 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. Finally, Piper Sandler lowered their target price on C3.ai from $28.00 to $27.00 and set a "neutral" rating on the stock in a research note on Thursday, May 29th. Five equities research 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. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $29.38.

Hedge Funds Weigh In On C3.ai

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in C3.ai by 3.6% during the 1st quarter. Vanguard Group Inc. now owns 13,407,490 shares of the company's stock worth $282,228,000 after buying an additional 471,521 shares during the period. Geode Capital Management LLC raised its stake in C3.ai by 14.1% during the 4th quarter. Geode Capital Management LLC now owns 2,529,991 shares of the company's stock valued at $87,128,000 after acquiring an additional 313,066 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in C3.ai by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,157,303 shares of the company's stock worth $45,414,000 after purchasing an additional 91,923 shares during the period. Two Sigma Investments LP acquired a new position in shares of C3.ai during the fourth quarter valued at approximately $42,306,000. Finally, Man Group plc acquired a new position in shares of C3.ai in the 4th quarter worth approximately $38,455,000. 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.