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

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

C3.ai Trading Down 2.4%

Shares of NYSE:AI opened at $8.60 on Thursday. The company has a 50 day moving average of $10.96 and a 200-day moving average of $14.26. The firm has a market cap of $1.21 billion, a P/E ratio of -2.73 and a beta of 2.05. C3.ai, Inc. has a twelve month low of $7.72 and a twelve month high of $30.24.

C3.ai (NYSE:AI) last posted its quarterly earnings data on Wednesday, February 25th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.29) by ($0.11). C3.ai had a negative net margin of 141.35% and a negative return on equity of 55.40%. The company had revenue of $53.26 million during the quarter, compared to the consensus estimate of $75.91 million. During the same quarter last year, the business earned ($0.12) earnings per share. The company’s revenue was down 46.1% on a year-over-year basis. Equities research analysts forecast that C3.ai, Inc. will post -2.44 EPS for the current year.

Analyst Ratings Changes

AI has been the topic of several research analyst reports. Needham & Company LLC reiterated a “hold” rating on shares of C3.ai in a research report on Thursday, December 4th. Bank of America set a $10.00 target price on C3.ai in a research note on Friday, January 30th. UBS Group reaffirmed a “reduce” rating on shares of C3.ai in a report on Thursday, February 26th. Weiss Ratings reiterated a “sell (d-)” rating on shares of C3.ai in a research report on Wednesday, January 21st. Finally, KeyCorp cut their price target on shares of C3.ai from $10.00 to $6.00 and set an “underweight” rating for the company in a report on Thursday, February 26th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, seven have assigned a Hold rating and six have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus target price of $15.87.

Institutional Investors Weigh In On C3.ai

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in C3.ai by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 14,469,953 shares of the company’s stock valued at $195,055,000 after buying an additional 108,011 shares during the period. Morgan Stanley grew its stake in C3.ai by 1.9% during the 4th quarter. Morgan Stanley now owns 4,824,499 shares of the company’s stock valued at $65,034,000 after acquiring an additional 91,802 shares in the last quarter. State Street Corp grew its stake in C3.ai by 3.3% during the 4th quarter. State Street Corp now owns 2,976,389 shares of the company’s stock valued at $40,122,000 after acquiring an additional 94,086 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of C3.ai by 0.8% in the 4th quarter. Geode Capital Management LLC now owns 2,868,578 shares of the company’s stock valued at $38,675,000 after purchasing an additional 21,451 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of C3.ai by 9.6% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,425,976 shares of the company’s stock valued at $42,066,000 after purchasing an additional 211,786 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.