John E. Hyten Sells 10,000 Shares of C3.ai, Inc. (NYSE:AI) Stock

C3.ai, Inc. (NYSE:AI - Get Free Report) Director John E. Hyten sold 10,000 shares of the business's stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $23.75, for a total transaction of $237,500.00. Following the transaction, the director now owns 63,942 shares in the company, valued at $1,518,622.50. This represents a 13.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

C3.ai Stock Down 2.2%

C3.ai stock traded down $0.53 during trading hours on Friday, hitting $23.63. The stock had a trading volume of 5,742,183 shares, compared to its average volume of 5,199,997. The stock's 50-day moving average price is $23.13 and its 200-day moving average price is $27.41. The stock has a market capitalization of $3.14 billion, a P/E ratio of -10.55 and a beta of 2.04. C3.ai, Inc. has a 12-month low of $17.03 and a 12-month high of $45.08.

C3.ai (NYSE:AI - Get Free Report) last announced its quarterly earnings data on Wednesday, May 28th. The company reported ($0.16) earnings per share for the quarter, topping analysts' consensus estimates of ($0.20) by $0.04. The company had revenue of $108.72 million during the quarter, compared to analyst estimates of $107.85 million. C3.ai had a negative net margin of 74.21% and a negative return on equity of 33.25%. The firm's revenue for the quarter was up 25.5% on a year-over-year basis. During the same period in the previous year, the business earned ($0.11) EPS. On average, research analysts expect that C3.ai, Inc. will post -2.44 EPS for the current fiscal year.

Institutional Investors Weigh In On C3.ai

Several institutional investors have recently modified their holdings of AI. Charles Schwab Investment Management Inc. lifted its stake in C3.ai by 10.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 933,139 shares of the company's stock valued at $32,128,000 after acquiring an additional 88,750 shares during the period. SBI Securities Co. Ltd. purchased a new position in shares of C3.ai during the fourth quarter valued at approximately $3,996,000. Susquehanna Fundamental Investments LLC bought a new position in C3.ai during the fourth quarter valued at approximately $3,159,000. Vanguard Group Inc. lifted its position in C3.ai by 3.6% during the fourth quarter. Vanguard Group Inc. now owns 12,935,969 shares of the company's stock valued at $445,385,000 after purchasing an additional 446,529 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in C3.ai by 14.1% in the fourth quarter. Geode Capital Management LLC now owns 2,529,991 shares of the company's stock worth $87,128,000 after purchasing an additional 313,066 shares during the last quarter. 38.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on AI. DA Davidson reduced their price target on 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 dropped their target price on shares of C3.ai from $28.00 to $27.00 and set a "neutral" rating on the stock in a report on Thursday, May 29th. Canaccord Genuity Group reduced their target price on shares of C3.ai from $30.00 to $28.00 and set a "hold" rating on the stock in a research report on Thursday, May 29th. Morgan Stanley lifted their price target on shares of C3.ai from $20.00 to $22.00 and gave the company an "underweight" rating in a research report on Thursday, May 29th. Finally, Oppenheimer dropped their price objective on shares of C3.ai from $56.00 to $45.00 and set an "outperform" rating on the stock in a research note on Thursday, May 29th. Five investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average 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.