C3.ai, Inc. (NYSE:AI) Director Richard C. Levin Sells 6,000 Shares

C3.ai, Inc. (NYSE:AI) Director Richard C. Levin sold 6,000 shares of the firm’s stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $26.31, for a total value of $157,860.00. Following the completion of the transaction, the director now owns 161,664 shares in the company, valued at approximately $4,253,379.84. This trade represents a 3.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

C3.ai Price Performance

Shares of NYSE AI opened at $25.62 on Wednesday. C3.ai, Inc. has a 1 year low of $17.03 and a 1 year high of $45.08. The stock has a market cap of $3.40 billion, a PE ratio of -11.59 and a beta of 1.99. The firm has a fifty day moving average price of $21.97 and a 200-day moving average price of $28.29.

C3.ai (NYSE:AI) last released its quarterly earnings data on Wednesday, May 28th. The company reported ($0.16) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.04. C3.ai had a negative return on equity of 31.31% and a negative net margin of 79.17%. The firm had revenue of $108.72 million during the quarter, compared to analyst estimates of $107.85 million. During the same quarter in the prior year, the company posted ($0.11) earnings per share. The business’s quarterly revenue was up 25.5% compared to the same quarter last year. On average, research analysts expect that C3.ai, Inc. will post -2.44 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AI. Brown Lisle Cummings Inc. grew its holdings in C3.ai by 100.0% during the 4th quarter. Brown Lisle Cummings Inc. now owns 800 shares of the company’s stock valued at $28,000 after buying an additional 400 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in shares of C3.ai by 100.7% in the 4th quarter. Russell Investments Group Ltd. now owns 909 shares of the company’s stock worth $31,000 after buying an additional 456 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of C3.ai by 8.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 6,546 shares of the company’s stock valued at $138,000 after acquiring an additional 510 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of C3.ai by 0.4% in the 4th quarter. Legal & General Group Plc now owns 119,144 shares of the company’s stock valued at $4,102,000 after acquiring an additional 517 shares during the last quarter. Finally, Corient Private Wealth LLC grew its position in C3.ai by 2.4% in the fourth quarter. Corient Private Wealth LLC now owns 23,371 shares of the company’s stock worth $805,000 after acquiring an additional 555 shares in the last quarter. 38.96% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on AI shares. Piper Sandler lowered their target price on C3.ai from $28.00 to $27.00 and set a “neutral” rating on the stock in a report on Thursday, May 29th. Canaccord Genuity Group reduced their price target on shares of C3.ai from $30.00 to $28.00 and set a “hold” rating for the company in a research report on Thursday, May 29th. JPMorgan Chase & Co. dropped their price objective on shares of C3.ai from $27.00 to $23.00 and set an “underweight” rating on the stock in a report on Thursday, May 29th. Oppenheimer cut their target price on shares of C3.ai from $56.00 to $45.00 and set an “outperform” rating for the company in a research report on Thursday, May 29th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of C3.ai in a research report on Thursday, May 29th. Five investment analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $29.46.

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.