Insider Selling: C3.ai, Inc. (NYSE:AI) Director Sells 10,000 Shares of Stock

C3.ai, Inc. (NYSE:AI - Get Free Report) Director John E. Hyten sold 10,000 shares of the stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $23.75, for a total transaction of $237,500.00. Following the sale, the director now owns 63,942 shares in the company, valued at approximately $1,518,622.50. The trade was a 13.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

C3.ai Trading Down 1.8%

AI stock traded down $0.44 during midday trading on Tuesday, reaching $24.01. 4,776,660 shares of the company's stock traded hands, compared to its average volume of 5,189,382. C3.ai, Inc. has a 52-week low of $17.03 and a 52-week high of $45.08. The stock has a market cap of $3.19 billion, a P/E ratio of -10.72 and a beta of 2.04. The stock's 50-day moving average is $22.87 and its 200 day moving average is $27.63.

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

Wall Street Analyst Weigh In

AI has been the topic of several analyst reports. Piper Sandler lowered their price objective on C3.ai from $28.00 to $27.00 and set a "neutral" rating on the stock in a research report on Thursday, May 29th. Morgan Stanley boosted 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 dropped their price objective on C3.ai from $25.00 to $18.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Canaccord Genuity Group reduced their price objective on C3.ai from $30.00 to $28.00 and set a "hold" rating for the company in a report on Thursday, May 29th. Finally, JPMorgan Chase & Co. lowered their target price on shares of C3.ai from $27.00 to $23.00 and set an "underweight" 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 given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $29.46.

Institutional Trading of C3.ai

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Russell Investments Group Ltd. lifted its position 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 valued at $31,000 after buying an additional 456 shares in the last quarter. WealthTrak Capital Management LLC bought a new stake in C3.ai during the 4th quarter worth approximately $33,000. Orion Capital Management LLC purchased a new position in C3.ai during the fourth quarter valued at approximately $34,000. Raiffeisen Bank International AG bought a new position in shares of C3.ai in the fourth quarter worth approximately $36,000. Finally, Harvest Fund Management Co. Ltd purchased a new stake in shares of C3.ai in the fourth quarter worth $36,000. Hedge funds and other institutional investors own 38.96% of the company's stock.

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.

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