C3.ai, Inc. (NYSE:AI) VP Sells $131,365.75 in Stock

C3.ai, Inc. (NYSE:AI) VP Merel Witteveen sold 5,485 shares of the stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $23.95, for a total transaction of $131,365.75. Following the completion of the transaction, the vice president now owns 13,740 shares in the company, valued at $329,073. This trade represents a 28.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Merel Witteveen also recently made the following trade(s):

• On Monday, June 9th, Merel Witteveen sold 1,710 shares of C3.ai stock. The stock was sold at an average price of $26.23, for a total value of $44,853.30.
• On Thursday, May 29th, Merel Witteveen sold 4,951 shares of C3.ai stock. The stock was sold at an average price of $27.63, for a total value of $136,796.13.
• On Tuesday, May 27th, Merel Witteveen sold 805 shares of C3.ai stock. The shares were sold at an average price of $23.56, for a total transaction of $18,965.80.
• On Monday, May 19th, Merel Witteveen sold 5,719 shares of C3.ai stock. The shares were sold at an average price of $23.32, for a total value of $133,367.08.
• On Wednesday, March 19th, Merel Witteveen sold 1,133 shares of C3.ai stock. The shares were sold at an average price of $22.25, for a total value of $25,209.25.

C3.ai Stock Up 0.6%

AI opened at $24.13 on Friday. The company has a 50-day moving average price of $23.07 and a 200 day moving average price of $27.50. C3.ai, Inc. has a twelve month low of $17.03 and a twelve month high of $45.08. The company has a market cap of $3.20 billion, a PE ratio of -10.77 and a beta of 2.04.

C3.ai (NYSE:AI) last issued its earnings results on Wednesday, May 28th. The company reported ($0.16) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.04. The business had revenue of $108.72 million during the quarter, compared to the consensus estimate 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 revenue for the quarter was up 25.5% on a year-over-year basis. During the same period last year, the company earned ($0.11) EPS. As a group, sell-side analysts expect that C3.ai, Inc. will post -2.44 earnings per share for the current year.

Hedge Funds Weigh In On C3.ai

Several institutional investors have recently bought and sold shares of AI. Two Sigma Investments LP acquired a new position in C3.ai during the 4th quarter worth approximately $42,306,000. Man Group plc acquired a new stake in shares of C3.ai during the fourth quarter worth about $38,455,000. Two Sigma Advisers LP acquired a new stake in shares of C3.ai during the fourth quarter worth about $30,725,000. Renaissance Technologies LLC boosted its stake in shares of C3.ai by 1,242.5% during the fourth quarter. Renaissance Technologies LLC now owns 718,231 shares of the company’s stock worth $24,729,000 after buying an additional 664,731 shares during the period. Finally, Vident Advisory LLC lifted its position in C3.ai by 3,935.9% during the 1st quarter. Vident Advisory LLC now owns 568,492 shares of the company’s stock worth $11,967,000 after acquiring an additional 554,406 shares during the period. 38.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have issued reports on AI shares. UBS Group reiterated a “neutral” rating and issued a $28.00 price target (up from $26.00) on shares of C3.ai in a report on Thursday, May 29th. Piper Sandler reduced 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. DA Davidson reduced their target price on C3.ai from $25.00 to $18.00 and set a “neutral” rating on the stock in a report on Monday, April 14th. Morgan Stanley lifted their price objective on C3.ai from $20.00 to $22.00 and gave the stock an “underweight” rating in a research note on Thursday, May 29th. Finally, JPMorgan Chase & Co. reduced their price objective on C3.ai from $27.00 to $23.00 and set an “underweight” rating on the stock in a research note on Thursday, May 29th. Five equities research analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, C3.ai has a consensus rating of “Hold” and an average price target of $29.46.

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.