C3.ai, Inc. (NYSE:AI) Director Sells $1,014,120.00 in Stock

C3.ai, Inc. (NYSE:AI - Get Free Report) Director Richard C. Levin sold 36,000 shares of the firm's stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $28.17, for a total transaction of $1,014,120.00. Following the completion of the sale, the director now owns 161,664 shares of the company's stock, valued at $4,554,074.88. This trade represents a 18.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

C3.ai Stock Up 3.0%

AI traded up $0.76 during mid-day trading on Friday, reaching $26.10. 639,518 shares of the company traded hands, compared to its average volume of 5,190,473. The stock has a market capitalization of $3.46 billion, a P/E ratio of -11.77 and a beta of 2.04. The company's fifty day moving average price is $22.14 and its 200-day moving average price is $28.26. C3.ai, Inc. has a 52-week low of $17.03 and a 52-week high of $45.08.

C3.ai (NYSE:AI - Get Free Report) last announced its earnings results on Wednesday, May 28th. The company reported ($0.16) earnings per share for the quarter, beating analysts' consensus estimates of ($0.20) by $0.04. The business 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 79.17% and a negative return on equity of 31.31%. The company's quarterly revenue was up 25.5% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.11) EPS. As a group, sell-side analysts forecast that C3.ai, Inc. will post -2.44 earnings per share for the current fiscal year.

Institutional Investors Weigh In On C3.ai

A number of hedge funds have recently modified their holdings of AI. Janney Montgomery Scott LLC grew its position in shares of C3.ai by 70.9% during the 4th quarter. Janney Montgomery Scott LLC now owns 55,339 shares of the company's stock valued at $1,905,000 after acquiring an additional 22,949 shares during the period. Blue Trust Inc. grew its position in shares of C3.ai by 344.6% during the 4th quarter. Blue Trust Inc. now owns 1,774 shares of the company's stock valued at $61,000 after acquiring an additional 1,375 shares during the period. KBC Group NV grew its position in shares of C3.ai by 35.8% during the 4th quarter. KBC Group NV now owns 4,878 shares of the company's stock valued at $168,000 after acquiring an additional 1,285 shares during the period. R Squared Ltd bought a new stake in shares of C3.ai during the 4th quarter valued at $29,000. Finally, DAVENPORT & Co LLC bought a new stake in shares of C3.ai during the 4th quarter valued at $209,000. Institutional investors own 38.96% of the company's stock.

Wall Street Analyst Weigh In

AI has been the subject of several research analyst reports. Oppenheimer lowered their price objective on shares of C3.ai from $56.00 to $45.00 and set an "outperform" rating for the company in a report on Thursday, May 29th. JPMorgan Chase & Co. lowered their price objective on shares of C3.ai from $27.00 to $23.00 and set an "underweight" rating for the company in a report on Thursday, May 29th. KeyCorp reaffirmed a "mixed" rating on shares of C3.ai in a research note on Thursday, May 29th. Canaccord Genuity Group decreased 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. Finally, DA Davidson decreased 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. Five 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. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $29.46.

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.