C3.ai, Inc. (NYSE:AI) VP Merel Witteveen Sells 805 Shares

C3.ai, Inc. (NYSE:AI - Get Free Report) VP Merel Witteveen sold 805 shares of the business's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $23.56, for a total transaction of $18,965.80. Following the completion of the sale, the vice president now owns 12,761 shares in the company, valued at $300,649.16. This represents a 5.93% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

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

• On Monday, May 19th, Merel Witteveen sold 5,719 shares of C3.ai stock. The shares were 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 Trading Down 4.4%

Shares of NYSE:AI traded down $1.22 during mid-day trading on Friday, reaching $26.58. The stock had a trading volume of 11,988,832 shares, compared to its average volume of 5,237,889. The firm has a market cap of $3.53 billion, a PE ratio of -12.03 and a beta of 1.99. The firm has a 50 day simple moving average of $21.87 and a two-hundred day simple moving average of $28.29. C3.ai, Inc. has a twelve month low of $17.03 and a twelve month high of $45.08.

C3.ai (NYSE:AI - Get Free Report) last issued its quarterly 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 analysts' expectations of $107.85 million. C3.ai had a negative net margin of 79.17% and a negative return on equity of 31.31%. The business's quarterly revenue was up 25.5% on a year-over-year basis. During the same period last year, the business earned ($0.11) EPS. On average, equities analysts anticipate that C3.ai, Inc. will post -2.44 EPS for the current fiscal year.

Hedge Funds Weigh In On C3.ai

Several hedge funds have recently made changes to their positions in AI. Brown Lisle Cummings Inc. grew its stake in shares of C3.ai by 100.0% in the fourth quarter. Brown Lisle Cummings Inc. now owns 800 shares of the company's stock valued at $28,000 after buying an additional 400 shares in the last quarter. R Squared Ltd bought a new position in shares of C3.ai in the fourth quarter valued at $29,000. Garde Capital Inc. bought a new position in shares of C3.ai in the first quarter valued at $29,000. Russell Investments Group Ltd. grew its stake in shares of C3.ai by 100.7% in the fourth 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. Finally, WealthTrak Capital Management LLC bought a new position in shares of C3.ai in the fourth quarter valued at $33,000. 38.96% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on AI shares. 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 note on Thursday. UBS Group restated a "neutral" rating and issued a $28.00 target price (up previously from $26.00) on shares of C3.ai in a research note on Thursday. KeyCorp reiterated a "mixed" rating on shares of C3.ai in a research report on Thursday. Morgan Stanley upped their price target on shares of C3.ai from $20.00 to $22.00 and gave the stock an "underweight" rating in a research report on Thursday. Finally, JPMorgan Chase & Co. cut 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 report on Thursday. Five analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat, C3.ai has an average rating of "Hold" and a consensus target price 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.