Insider Selling: C3.ai, Inc. (NYSE:AI) CFO Sells 6,040 Shares of Stock

C3.ai, Inc. (NYSE:AI - Get Free Report) CFO Hitesh Lath sold 6,040 shares of the firm's stock in a transaction on Monday, June 16th. The stock was sold at an average price of $24.19, for a total value of $146,107.60. Following the completion of the sale, the chief financial officer now directly owns 6,218 shares of the company's stock, valued at approximately $150,413.42. This trade represents a 49.27% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

• 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 value of $128,637.60.

C3.ai Stock Down 1.8%

Shares of NYSE:AI traded down $0.44 during trading on Tuesday, reaching $24.01. The stock had a trading volume of 4,776,660 shares, compared to its average volume of 5,189,382. The stock has a fifty day simple moving average of $22.87 and a two-hundred day simple moving average of $27.63. C3.ai, Inc. has a 52 week low of $17.03 and a 52 week high of $45.08. The firm has a market capitalization of $3.19 billion, a price-to-earnings ratio of -10.72 and a beta of 2.04.

C3.ai (NYSE:AI - Get Free Report) last announced its earnings results on Wednesday, May 28th. The company reported ($0.16) EPS for the quarter, topping the consensus estimate of ($0.20) by $0.04. The firm had revenue of $108.72 million for the quarter, compared to the consensus estimate of $107.85 million. C3.ai had a negative net margin of 74.21% and a negative return on equity of 33.25%. The business's quarterly revenue was up 25.5% on a year-over-year basis. During the same quarter last year, the firm posted ($0.11) EPS. On average, 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 have recently made changes to their positions in the business. Blue Trust Inc. boosted its stake in C3.ai by 242.6% during the 4th quarter. Blue Trust Inc. now owns 1,367 shares of the company's stock valued at $47,000 after purchasing an additional 968 shares during the period. Rhumbline Advisers lifted its holdings in shares of C3.ai by 39.4% during the fourth quarter. Rhumbline Advisers now owns 166,378 shares of the company's stock worth $5,728,000 after buying an additional 47,028 shares during the last quarter. Strategic Financial Concepts LLC bought a new stake in shares of C3.ai in the fourth quarter valued at approximately $2,015,000. Principal Financial Group Inc. acquired a new stake in shares of C3.ai in the fourth quarter worth $324,000. Finally, AlphaCentric Advisors LLC bought a new position in C3.ai during the fourth quarter worth $344,000. 38.96% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on AI. KeyCorp restated a "mixed" rating on shares of C3.ai in a report on Thursday, May 29th. Oppenheimer decreased 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. Piper Sandler dropped 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, May 29th. Needham & Company LLC reissued a "hold" rating on shares of C3.ai in a research report on Thursday, May 29th. Finally, UBS Group restated a "neutral" rating and issued a $28.00 target price (up previously from $26.00) on shares of C3.ai in a research note on Thursday, May 29th. Five equities research 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. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $29.46.

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.

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