C3.ai, Inc. (NYSE:AI) Director Sells 6,000 Shares

C3.ai, Inc. (NYSE:AI - Get Free Report) Director Richard C. Levin sold 6,000 shares of the company's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $26.31, for a total transaction of $157,860.00. Following the completion of the transaction, the director now owns 161,664 shares in the company, valued at approximately $4,253,379.84. This represents a 3.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

C3.ai Trading Down 1.9%

AI stock traded down $0.50 on Thursday, hitting $25.76. The company had a trading volume of 3,734,440 shares, compared to its average volume of 5,200,610. C3.ai, Inc. has a 12-month low of $17.03 and a 12-month high of $45.08. The stock has a market cap of $3.42 billion, a price-to-earnings ratio of -11.66 and a beta of 1.99. The stock's 50-day simple moving average is $22.06 and its 200 day simple moving average is $28.27.

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

Institutional Trading of C3.ai

Several institutional investors have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its stake in C3.ai by 10.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 933,139 shares of the company's stock worth $32,128,000 after purchasing an additional 88,750 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of C3.ai during the fourth quarter valued at $3,996,000. Susquehanna Fundamental Investments LLC bought a new stake in shares of C3.ai in the fourth quarter valued at about $3,159,000. Vanguard Group Inc. raised its holdings in shares of C3.ai by 3.6% in the fourth quarter. Vanguard Group Inc. now owns 12,935,969 shares of the company's stock valued at $445,385,000 after acquiring an additional 446,529 shares in the last quarter. Finally, Janney Montgomery Scott LLC lifted its stake in C3.ai by 70.9% in the fourth quarter. Janney Montgomery Scott LLC now owns 55,339 shares of the company's stock worth $1,905,000 after acquiring an additional 22,949 shares during the period. Institutional investors own 38.96% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently commented on AI shares. DA Davidson cut 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. Morgan Stanley upped their price target on C3.ai from $20.00 to $22.00 and gave the company an "underweight" rating in a report on Thursday, May 29th. KeyCorp reissued a "mixed" rating on shares of C3.ai in a report on Thursday, May 29th. UBS Group reaffirmed a "neutral" rating and issued a $28.00 target price (up from $26.00) on shares of C3.ai in a research report on Thursday, May 29th. Finally, Canaccord Genuity Group lowered their price target on shares of C3.ai from $30.00 to $28.00 and set a "hold" rating on the stock in a report 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 issued a buy rating to the stock. Based on data from MarketBeat.com, C3.ai currently has an average rating of "Hold" and a consensus price target 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.