Insider Selling: C3.ai, Inc. (NYSE:AI) VP Sells 1,133 Shares of Stock

C3.ai, Inc. (NYSE:AI) VP Merel Witteveen sold 1,133 shares of C3.ai stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $22.25, for a total value of $25,209.25. Following the completion of the sale, the vice president now owns 7,287 shares in the company, valued at approximately $162,135.75. The trade was a 13.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

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

• On Tuesday, February 25th, Merel Witteveen sold 337 shares of C3.ai stock. The stock was sold at an average price of $26.41, for a total value of $8,900.17.
• On Monday, December 30th, Merel Witteveen sold 11,132 shares of C3.ai stock. The shares were sold at an average price of $34.95, for a total value of $389,063.40.

C3.ai Trading Up 1.2 %

NYSE AI opened at $22.65 on Friday. The stock has a market cap of $3.01 billion, a PE ratio of -10.25 and a beta of 2.03. The stock has a fifty day simple moving average of $28.42 and a 200-day simple moving average of $29.33. C3.ai, Inc. has a twelve month low of $18.85 and a twelve month high of $45.08.

C3.ai (NYSE:AI) last released its quarterly earnings results on Wednesday, February 26th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.37). The company had revenue of $98.78 million during the quarter, compared to analysts’ expectations of $98.12 million. C3.ai had a negative net margin of 79.17% and a negative return on equity of 31.31%. Research analysts predict that C3.ai, Inc. will post -2.44 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on AI shares. Canaccord Genuity Group dropped their target price on shares of C3.ai from $40.00 to $30.00 and set a “hold” rating for the company in a report on Thursday, February 27th. JPMorgan Chase & Co. cut shares of C3.ai from a “neutral” rating to an “underweight” rating and set a $28.00 price objective for the company. in a research note on Wednesday, December 11th. StockNews.com raised shares of C3.ai to a “sell” rating in a research note on Tuesday, November 26th. Morgan Stanley dropped their price target on C3.ai from $32.00 to $30.00 and set an “underweight” rating for the company in a research report on Thursday, February 27th. Finally, KeyCorp reduced their price objective on C3.ai from $29.00 to $21.00 and set an “underweight” rating on the stock in a research report on Thursday, February 27th. Five analysts have rated the stock with a sell rating, five have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $31.33.

Institutional Trading of C3.ai

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Victory Capital Management Inc. boosted its holdings in C3.ai by 3.4% in the third quarter. Victory Capital Management Inc. now owns 14,078 shares of the company’s stock valued at $341,000 after purchasing an additional 457 shares during the period. KBC Group NV raised its position in C3.ai by 37.0% in the 3rd quarter. KBC Group NV now owns 3,593 shares of the company’s stock valued at $87,000 after purchasing an additional 971 shares in the last quarter. Quest Partners LLC boosted its stake in shares of C3.ai by 9,033.3% in the 3rd quarter. Quest Partners LLC now owns 1,644 shares of the company’s stock valued at $40,000 after buying an additional 1,626 shares during the period. Intech Investment Management LLC acquired a new position in shares of C3.ai during the third quarter worth about $859,000. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of C3.ai by 12.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 844,389 shares of the company’s stock worth $20,460,000 after buying an additional 92,280 shares during the period. 38.96% of the stock is currently owned by hedge funds and other institutional investors.

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.