Insider Selling: C3.ai, Inc. (NYSE:AI) VP Sells 1,710 Shares of Stock

C3.ai, Inc. (NYSE:AI - Get Free Report) VP Merel Witteveen sold 1,710 shares of the stock in a transaction on Monday, June 9th. The stock was sold at an average price of $26.23, for a total value of $44,853.30. Following the sale, the vice president now owns 9,225 shares of the company's stock, valued at approximately $241,971.75. This represents a 15.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

Merel Witteveen also recently made the following trade(s):

• On Thursday, May 29th, Merel Witteveen sold 4,951 shares of C3.ai stock. The stock was sold at an average price of $27.63, for a total value of $136,796.13.
• On Tuesday, May 27th, Merel Witteveen sold 805 shares of C3.ai stock. The shares were sold at an average price of $23.56, for a total value of $18,965.80.
• On Monday, May 19th, Merel Witteveen sold 5,719 shares of C3.ai stock. The stock was sold at an average price of $23.32, for a total value of $133,367.08.
• On Wednesday, March 19th, Merel Witteveen sold 1,133 shares of C3.ai stock. The shares were sold at an average price of $22.25, for a total transaction of $25,209.25.

C3.ai Stock Performance

NYSE:AI traded down $0.09 during mid-day trading on Monday, hitting $25.86. The company had a trading volume of 5,112,534 shares, compared to its average volume of 5,200,036. The firm has a market cap of $3.43 billion, a P/E ratio of -11.70 and a beta of 2.04. C3.ai, Inc. has a fifty-two week low of $17.03 and a fifty-two week high of $45.08. The business's fifty day moving average is $22.23 and its two-hundred day moving average is $28.14.

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

Analysts Set New Price Targets

A number of research analysts have recently weighed in on AI shares. UBS Group restated a "neutral" rating and set a $28.00 price target (up previously from $26.00) on shares of C3.ai in a report on Thursday, May 29th. 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 report on Thursday, May 29th. Canaccord Genuity Group reduced their target price on C3.ai from $30.00 to $28.00 and set a "hold" rating for the company in a report on Thursday, May 29th. DA Davidson dropped their price target on shares of C3.ai from $25.00 to $18.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of C3.ai in a report on Thursday, May 29th. Five investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $29.46.

Institutional Investors Weigh In On C3.ai

Several large investors have recently modified their holdings of the business. Russell Investments Group Ltd. raised its stake in shares of C3.ai by 100.7% in the 4th quarter. Russell Investments Group Ltd. now owns 909 shares of the company's stock valued at $31,000 after purchasing an additional 456 shares during the period. PNC Financial Services Group Inc. raised its holdings in shares of C3.ai by 8.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 6,546 shares of the company's stock valued at $138,000 after purchasing an additional 510 shares during the period. Legal & General Group Plc lifted its stake in C3.ai by 0.4% in the 4th quarter. Legal & General Group Plc now owns 119,144 shares of the company's stock valued at $4,102,000 after purchasing an additional 517 shares during the last quarter. Corient Private Wealth LLC grew its holdings in C3.ai by 2.4% during the fourth quarter. Corient Private Wealth LLC now owns 23,371 shares of the company's stock worth $805,000 after purchasing an additional 555 shares during the period. Finally, CIBC Private Wealth Group LLC increased its position in C3.ai by 35.7% during the fourth quarter. CIBC Private Wealth Group LLC now owns 2,128 shares of the company's stock worth $71,000 after buying an additional 560 shares during the last quarter. 38.96% of the stock is currently owned by institutional investors.

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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