C3.ai (NYSE:AI) CFO Hitesh Lath Sells 15,248 Shares

C3.ai, Inc. (NYSE:AI) CFO Hitesh Lath sold 15,248 shares of the business’s stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $8.98, for a total value of $136,927.04. Following the sale, the chief financial officer owned 238,308 shares of the company’s stock, valued at approximately $2,140,005.84. This trade represents a 6.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

C3.ai Price Performance

NYSE AI opened at $8.82 on Wednesday. The stock’s 50 day simple moving average is $11.06 and its 200-day simple moving average is $14.30. The company has a market cap of $1.24 billion, a PE ratio of -2.80 and a beta of 2.05. C3.ai, Inc. has a 1-year low of $7.72 and a 1-year high of $30.24.

C3.ai (NYSE:AI) last issued its quarterly earnings results on Wednesday, February 25th. The company reported ($0.40) EPS for the quarter, missing the consensus estimate of ($0.29) by ($0.11). C3.ai had a negative return on equity of 55.40% and a negative net margin of 141.35%.The firm had revenue of $53.26 million for the quarter, compared to analysts’ expectations of $75.91 million. During the same quarter in the previous year, the firm posted ($0.12) earnings per share. The firm’s revenue for the quarter was down 46.1% compared to the same quarter last year. On average, equities research analysts anticipate that C3.ai, Inc. will post -2.44 EPS for the current fiscal year.

Analyst Ratings Changes

AI has been the subject of a number of recent research reports. Wedbush reduced their target price on shares of C3.ai from $20.00 to $15.00 and set an “outperform” rating for the company in a research report on Thursday, February 26th. Wolfe Research reaffirmed an “underperform” rating and set a $6.00 price objective on shares of C3.ai in a research note on Thursday, February 26th. UBS Group reiterated a “reduce” rating on shares of C3.ai in a report on Thursday, February 26th. DA Davidson decreased their target price on shares of C3.ai from $13.00 to $7.00 and set an “underperform” rating on the stock in a research note on Thursday, February 26th. Finally, BMO Capital Markets set a $7.00 target price on C3.ai in a report on Thursday, February 26th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, seven have given a Hold rating and six have given a Sell rating to the company’s stock. According to MarketBeat, C3.ai has an average rating of “Reduce” and a consensus target price of $15.87.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of AI. ProShare Advisors LLC increased its position in C3.ai by 2.4% during the second quarter. ProShare Advisors LLC now owns 25,548 shares of the company’s stock worth $628,000 after purchasing an additional 593 shares during the last quarter. Ameritas Investment Partners Inc. boosted its holdings in C3.ai by 6.8% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 12,365 shares of the company’s stock valued at $304,000 after purchasing an additional 791 shares during the last quarter. NewEdge Advisors LLC boosted its holdings in C3.ai by 48.7% in the 1st quarter. NewEdge Advisors LLC now owns 2,442 shares of the company’s stock valued at $51,000 after purchasing an additional 800 shares during the last quarter. Parallel Advisors LLC grew its stake in shares of C3.ai by 76.4% in the 3rd quarter. Parallel Advisors LLC now owns 1,849 shares of the company’s stock valued at $32,000 after buying an additional 801 shares during the period. Finally, BOKF NA grew its stake in shares of C3.ai by 20.7% in the 3rd quarter. BOKF NA now owns 4,709 shares of the company’s stock valued at $82,000 after buying an additional 809 shares during the period. Institutional investors and hedge funds own 38.96% of the company’s stock.

C3.ai Company Profile

C3.ai, Inc is a leading enterprise software provider focused on delivering scalable artificial intelligence (AI) and Internet of Things (IoT) solutions to large organizations. The company’s core offering, the C3 AI Suite, is a comprehensive, model-driven platform that unifies data ingestion, model development, and application deployment. Through its suite of tools, C3.ai enables customers to accelerate digital transformation initiatives by applying advanced machine learning, predictive analytics, and AI-driven insights across a broad range of business functions.

The C3 AI Suite provides a low-code environment for data scientists and application developers to rapidly design, test, and deploy enterprise-scale AI applications.