Insider Selling: C3.ai (NYSE:AI) CFO Sells $200,000.00 in Stock

C3.ai, Inc. (NYSE:AI) CFO Hitesh Lath sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $10.00, for a total transaction of $200,000.00. Following the sale, the chief financial officer directly owned 363,106 shares in the company, valued at $3,631,060. This trade represents a 5.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Hitesh Lath also recently made the following trade(s):

• On Tuesday, June 30th, Hitesh Lath sold 48,619 shares of C3.ai stock. The shares were sold at an average price of $8.77, for a total transaction of $426,388.63.
• On Tuesday, June 16th, Hitesh Lath sold 34,210 shares of C3.ai stock. The shares were sold at an average price of $10.95, for a total transaction of $374,599.50.

C3.ai Stock Performance

C3.ai stock opened at $10.26 on Friday. The stock has a market cap of $1.60 billion, a P/E ratio of -3.07 and a beta of 2.08. C3.ai, Inc. has a fifty-two week low of $7.68 and a fifty-two week high of $22.95. The firm’s fifty day moving average price is $9.60 and its 200-day moving average price is $9.65.

C3.ai (NYSE:AI) last issued its quarterly earnings data on Wednesday, June 3rd. The company reported ($0.33) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.38) by $0.05. C3.ai had a negative return on equity of 62.44% and a negative net margin of 187.95%.The company had revenue of $51.60 million for the quarter, compared to the consensus estimate of $51.60 million. During the same quarter last year, the business posted ($0.16) earnings per share. The firm’s revenue was down 52.5% compared to the same quarter last year. Sell-side analysts predict that C3.ai, Inc. will post -2.28 earnings per share for the current year.

Analyst Ratings Changes

AI has been the subject of a number of research analyst reports. KeyCorp reiterated an “underweight” rating on shares of C3.ai in a research report on Thursday, June 4th. Wedbush reaffirmed an “outperform” rating and issued a $15.00 target price on shares of C3.ai in a research note on Thursday, June 4th. DA Davidson reiterated an “underperform” rating and set a $7.00 target price on shares of C3.ai in a research report on Thursday, June 4th. Needham & Company LLC reissued a “hold” rating on shares of C3.ai in a research note on Thursday, June 4th. Finally, Weiss Ratings raised shares of C3.ai from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday. One research analyst has rated the stock with a Buy rating, six have assigned a Hold rating and six have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average target price of $10.67.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. AQR Capital Management LLC grew its stake in C3.ai by 267.9% in the first quarter. AQR Capital Management LLC now owns 181,354 shares of the company’s stock worth $3,788,000 after purchasing an additional 132,056 shares during the period. NewEdge Advisors LLC boosted its holdings in shares of C3.ai by 48.7% during the 1st quarter. NewEdge Advisors LLC now owns 2,442 shares of the company’s stock valued at $51,000 after buying an additional 800 shares in the last quarter. Woodline Partners LP purchased a new stake in shares of C3.ai in the 1st quarter worth about $346,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of C3.ai by 4.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 242,784 shares of the company’s stock worth $5,111,000 after buying an additional 10,675 shares during the period. Finally, Focus Partners Wealth increased its stake in shares of C3.ai by 2.6% in the 1st quarter. Focus Partners Wealth now owns 59,004 shares of the company’s stock worth $1,242,000 after acquiring an additional 1,503 shares in the last quarter. Hedge funds and other institutional investors own 38.96% of the company’s stock.

About C3.ai

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.