Merel Witteveen Sells 1,710 Shares of C3.ai, Inc. (NYSE:AI) Stock

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

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

• On Thursday, May 29th, Merel Witteveen sold 4,951 shares of C3.ai stock. The shares were 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 stock was 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 transaction 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 Price Performance

NYSE AI traded down $0.29 during trading hours on Thursday, hitting $24.36. The company had a trading volume of 4,289,738 shares, compared to its average volume of 5,196,590. The firm's 50 day moving average is $22.53 and its 200 day moving average is $28.02. C3.ai, Inc. has a fifty-two week low of $17.03 and a fifty-two week high of $45.08. The company has a market capitalization of $3.23 billion, a price-to-earnings ratio of -11.02 and a beta of 2.04.

C3.ai (NYSE:AI - Get Free Report) last issued its earnings results on Wednesday, May 28th. The company reported ($0.16) earnings per share for the quarter, topping the consensus estimate of ($0.20) by $0.04. The company had revenue of $108.72 million during the quarter, compared to the consensus estimate of $107.85 million. C3.ai had a negative return on equity of 31.31% and a negative net margin of 79.17%. The company's revenue was up 25.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.11) earnings per share. On average, equities analysts anticipate that C3.ai, Inc. will post -2.44 EPS for the current year.

Institutional Trading of C3.ai

A number of hedge funds have recently made changes to their positions in the company. Blue Trust Inc. grew its holdings in 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 purchasing an additional 1,375 shares in the last quarter. DAVENPORT & Co LLC purchased a new position in C3.ai in the 4th quarter valued at about $209,000. Strategic Financial Concepts LLC acquired a new stake in shares of C3.ai during the fourth quarter valued at about $2,015,000. Kingsview Wealth Management LLC grew its stake in shares of C3.ai by 10.3% during the fourth quarter. Kingsview Wealth Management LLC now owns 9,663 shares of the company's stock valued at $333,000 after acquiring an additional 906 shares in the last quarter. Finally, Entropy Technologies LP purchased a new stake in shares of C3.ai during the fourth quarter worth about $745,000. Hedge funds and other institutional investors own 38.96% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on AI. Morgan Stanley upped their target price on shares of C3.ai from $20.00 to $22.00 and gave the stock an "underweight" rating in a research report on Thursday, May 29th. Wall Street Zen lowered C3.ai from a "hold" rating to a "sell" rating in a research note on Friday, June 6th. Piper Sandler dropped their price objective on shares of C3.ai from $28.00 to $27.00 and set a "neutral" rating for the company in a research note on Thursday, May 29th. Needham & Company LLC restated a "hold" rating on shares of C3.ai in a research report on Thursday, May 29th. Finally, KeyCorp reiterated a "mixed" rating on shares of C3.ai in a report on Thursday, May 29th. Five analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target 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.