John E. Hyten Sells 10,000 Shares of C3.ai, Inc. (NYSE:AI) Stock

C3.ai, Inc. (NYSE:AI) Director John E. Hyten sold 10,000 shares of C3.ai stock in a transaction on Friday, June 13th. The stock was sold at an average price of $23.75, for a total value of $237,500.00. Following the sale, the director now owns 63,942 shares in the company, valued at $1,518,622.50. The trade was a 13.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

C3.ai Price Performance

NYSE:AI opened at $24.13 on Thursday. The company has a market cap of $3.20 billion, a P/E ratio of -10.77 and a beta of 2.04. The stock’s fifty day moving average price is $22.99 and its two-hundred day moving average price is $27.58. C3.ai, Inc. has a 1 year low of $17.03 and a 1 year high of $45.08.

C3.ai (NYSE:AI) last posted its earnings results on Wednesday, May 28th. The company reported ($0.16) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.04. The business had revenue of $108.72 million during the quarter, compared to analyst estimates of $107.85 million. C3.ai had a negative return on equity of 33.25% and a negative net margin of 74.21%. The company’s quarterly revenue was up 25.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.11) EPS. On average, analysts expect that C3.ai, Inc. will post -2.44 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Wall Street Zen lowered shares of C3.ai from a “hold” rating to a “sell” rating in a research report on Friday, June 6th. DA Davidson reduced their price objective on C3.ai from $25.00 to $18.00 and set a “neutral” rating for the company in a report on Monday, April 14th. Canaccord Genuity Group reduced their price objective on C3.ai from $30.00 to $28.00 and set a “hold” rating for the company in a report on Thursday, May 29th. UBS Group reissued a “neutral” rating and set a $28.00 price objective (up from $26.00) on shares of C3.ai in a report on Thursday, May 29th. Finally, KeyCorp reissued a “mixed” rating on shares of C3.ai in a report on Thursday, May 29th. Five equities research analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $29.46.

Hedge Funds Weigh In On C3.ai

Several hedge funds have recently bought and sold shares of AI. Garde Capital Inc. purchased a new stake in shares of C3.ai in the 1st quarter valued at about $29,000. Russell Investments Group Ltd. increased its stake in C3.ai by 100.7% in the fourth quarter. Russell Investments Group Ltd. now owns 909 shares of the company’s stock valued at $31,000 after acquiring an additional 456 shares during the last quarter. WealthTrak Capital Management LLC bought a new position in C3.ai in the fourth quarter valued at $33,000. Orion Capital Management LLC bought a new position in C3.ai in the fourth quarter valued at $34,000. Finally, CX Institutional bought a new position in C3.ai in the first quarter valued at $34,000. Hedge funds and other institutional investors own 38.96% of the company’s stock.

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.