Hitesh Lath Sells 34,210 Shares of C3.ai (NYSE:AI) Stock

C3.ai, Inc. (NYSE:AI) CFO Hitesh Lath sold 34,210 shares of C3.ai stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $10.95, for a total value of $374,599.50. Following the sale, the chief financial officer owned 233,106 shares of the company’s stock, valued at approximately $2,552,510.70. This trade represents a 12.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

C3.ai Trading Up 0.1%

Shares of AI opened at $10.30 on Friday. The firm has a fifty day moving average price of $9.62 and a 200-day moving average price of $10.92. The firm has a market capitalization of $1.50 billion, a P/E ratio of -3.09 and a beta of 2.04. C3.ai, Inc. has a 12-month low of $7.68 and a 12-month high of $30.11.

C3.ai (NYSE:AI) last posted its quarterly earnings results on Wednesday, June 3rd. The company reported ($0.33) EPS for the quarter, topping the consensus estimate of ($0.38) by $0.05. The company had revenue of $51.60 million for the quarter, compared to the consensus estimate of $51.60 million. C3.ai had a negative net margin of 187.95% and a negative return on equity of 60.20%. The firm’s revenue was down 52.5% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.16) EPS. Analysts predict that C3.ai, Inc. will post -2.26 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on AI shares. Weiss Ratings lowered C3.ai from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday. BMO Capital Markets set a $7.00 price objective on C3.ai in a report on Thursday, February 26th. DA Davidson reaffirmed an “underperform” rating and set a $7.00 target price on shares of C3.ai in a research report on Thursday, June 4th. Needham & Company LLC reiterated a “hold” rating on shares of C3.ai in a report on Thursday, June 4th. Finally, Citizens Jmp reissued a “market perform” rating on shares of C3.ai in a research report on Thursday, June 4th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, six have assigned a Hold rating and six have given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and an average price target of $12.92.

Hedge Funds Weigh In On C3.ai

A number of large investors have recently bought and sold shares of AI. AQR Capital Management LLC lifted its holdings in C3.ai by 267.9% during the first quarter. AQR Capital Management LLC now owns 181,354 shares of the company’s stock worth $3,788,000 after buying an additional 132,056 shares during the period. NewEdge Advisors LLC increased its holdings in shares of C3.ai by 48.7% in the 1st quarter. NewEdge Advisors LLC now owns 2,442 shares of the company’s stock valued at $51,000 after acquiring an additional 800 shares during the period. Woodline Partners LP purchased a new position in shares of C3.ai in the 1st quarter valued at $346,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of C3.ai by 4.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 242,784 shares of the company’s stock worth $5,111,000 after acquiring an additional 10,675 shares in the last quarter. Finally, Focus Partners Wealth raised its position in shares of C3.ai by 2.6% in the 1st quarter. Focus Partners Wealth now owns 59,004 shares of the company’s stock worth $1,242,000 after acquiring an additional 1,503 shares in the last quarter. Institutional investors 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.