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 C3.ai stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $10.00, for a total value of $200,000.00. Following the transaction, the chief financial officer owned 363,106 shares of the company’s stock, valued at $3,631,060. The trade was a 5.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. 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 value 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 value of $374,599.50.

C3.ai Stock Down 0.6%

Shares of NYSE AI traded down $0.06 during midday trading on Thursday, hitting $9.85. 2,763,052 shares of the company’s stock were exchanged, compared to its average volume of 6,246,685. The firm has a market capitalization of $1.53 billion, a PE ratio of -2.95 and a beta of 2.08. C3.ai, Inc. has a 12 month low of $7.68 and a 12 month high of $23.68. The company’s 50 day moving average price is $9.62 and its 200 day moving average price is $9.66.

C3.ai (NYSE:AI) last posted its quarterly earnings results on Wednesday, June 3rd. The company reported ($0.33) earnings per share for the quarter, beating 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 business had revenue of $51.60 million for the quarter, compared to analysts’ expectations of $51.60 million. During the same quarter in the prior year, the business earned ($0.16) EPS. The firm’s revenue for the quarter was down 52.5% on a year-over-year basis. On average, equities research analysts anticipate that C3.ai, Inc. will post -2.28 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of AI. Bank of America Corp DE raised its position in C3.ai by 55.1% in the first quarter. Bank of America Corp DE now owns 3,282,183 shares of the company’s stock valued at $27,636,000 after purchasing an additional 1,166,302 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of C3.ai by 77.1% in the third quarter. Dimensional Fund Advisors LP now owns 1,804,188 shares of the company’s stock valued at $31,284,000 after buying an additional 785,508 shares during the period. Two Sigma Investments LP bought a new position in C3.ai in the 3rd quarter valued at approximately $13,379,000. Voloridge Investment Management LLC bought a new position in C3.ai in the 4th quarter valued at approximately $9,183,000. Finally, Federated Hermes Inc. boosted its position in C3.ai by 93,578.8% during the 4th quarter. Federated Hermes Inc. now owns 675,424 shares of the company’s stock worth $9,105,000 after buying an additional 674,703 shares during the period. 38.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently commented on AI. Weiss Ratings raised shares of C3.ai from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday. Needham & Company LLC restated a “hold” rating on shares of C3.ai in a research report on Thursday, June 4th. Wedbush restated an “outperform” rating and set a $15.00 price objective on shares of C3.ai in a report on Thursday, June 4th. DA Davidson reaffirmed an “underperform” rating and issued a $7.00 target price on shares of C3.ai in a research report on Thursday, June 4th. Finally, Canaccord Genuity Group increased their target price on C3.ai from $8.00 to $10.00 and gave the stock a “hold” rating in a research note on Thursday, June 4th. 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’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and an average price target of $10.67.

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.