C3.ai (NYSE:AI) CFO Hitesh Lath Sells 15,042 Shares

C3.ai, Inc. (NYSE:AI) CFO Hitesh Lath sold 15,042 shares of the business’s stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $14.38, for a total transaction of $216,303.96. Following the sale, the chief financial officer directly owned 223,120 shares of the company’s stock, valued at $3,208,465.60. This represents a 6.32% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

C3.ai Trading Up 0.8%

NYSE:AI traded up $0.12 during trading hours on Thursday, hitting $14.17. 470,171 shares of the stock were exchanged, compared to its average volume of 6,546,725. The company has a market cap of $1.95 billion, a P/E ratio of -5.03 and a beta of 1.97. The firm’s fifty day moving average price is $15.92 and its 200 day moving average price is $19.62. C3.ai, Inc. has a 52-week low of $12.59 and a 52-week high of $39.64.

C3.ai (NYSE:AI) last announced its quarterly earnings data on Wednesday, December 3rd. The company reported ($0.25) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.08. C3.ai had a negative return on equity of 46.51% and a negative net margin of 108.06%.The company had revenue of $75.15 million for the quarter, compared to analyst estimates of $74.86 million. During the same quarter last year, the firm posted ($0.06) EPS. The firm’s revenue for the quarter was down 20.3% on a year-over-year basis. Equities analysts expect that C3.ai, Inc. will post -2.44 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. CIBC Private Wealth Group LLC lifted its holdings in shares of C3.ai by 22.1% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 24,607 shares of the company’s stock worth $427,000 after acquiring an additional 4,446 shares during the last quarter. CIBC Bancorp USA Inc. acquired a new stake in C3.ai in the 3rd quarter valued at approximately $227,000. Mayport LLC purchased a new stake in C3.ai in the third quarter valued at approximately $191,000. XTX Topco Ltd acquired a new position in C3.ai during the third quarter worth $1,702,000. Finally, Nomura Holdings Inc. boosted its position in shares of C3.ai by 36.1% during the third quarter. Nomura Holdings Inc. now owns 32,943 shares of the company’s stock worth $571,000 after buying an additional 8,733 shares during the period. Hedge funds and other institutional investors own 38.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Wedbush reissued an “outperform” rating and set a $20.00 price objective on shares of C3.ai in a research note on Thursday, December 4th. DA Davidson reiterated an “underperform” rating and set a $13.00 price target on shares of C3.ai in a report on Thursday, December 4th. KeyCorp lowered their price target on shares of C3.ai from $18.00 to $10.00 and set an “underweight” rating on the stock in a research report on Thursday, September 4th. Morgan Stanley cut their price objective on shares of C3.ai from $22.00 to $11.00 and set an “underweight” rating for the company in a research report on Tuesday, September 9th. Finally, JMP Securities reduced their target price on shares of C3.ai from $30.00 to $24.00 and set a “market outperform” rating on the stock in a research note on Thursday, September 4th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, seven have issued a Hold rating and five have assigned a Sell rating to the company’s stock. According to data from MarketBeat, C3.ai presently has a consensus rating of “Reduce” and an average price target of $21.92.

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.