Insider Selling: C3.ai (NYSE:AI) CEO Sells 234,918 Shares of Stock

C3.ai, Inc. (NYSE:AI) CEO Stephen Bradley Ehikian sold 234,918 shares of the stock in a transaction dated Wednesday, December 31st. The shares were sold at an average price of $13.56, for a total transaction of $3,185,488.08. Following the completion of the transaction, the chief executive officer directly owned 924,074 shares of the company’s stock, valued at approximately $12,530,443.44. The trade was a 20.27% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

C3.ai Stock Performance

AI stock traded up $0.22 during midday trading on Friday, reaching $13.70. 7,629,788 shares of the company traded hands, compared to its average volume of 5,316,817. C3.ai, Inc. has a 52-week low of $12.59 and a 52-week high of $38.58. The business has a 50 day moving average of $14.95 and a 200-day moving average of $18.80. The firm has a market capitalization of $1.93 billion, a price-to-earnings ratio of -4.84 and a beta of 1.97.

C3.ai (NYSE:AI) last released its earnings results on Wednesday, December 3rd. The company reported ($0.25) earnings per share for the quarter, beating the consensus estimate of ($0.33) by $0.08. C3.ai had a negative return on equity of 46.51% and a negative net margin of 108.06%.The firm had revenue of $75.15 million for the quarter, compared to the consensus estimate of $74.86 million. During the same quarter in the previous year, the company posted ($0.06) EPS. The company’s revenue for the quarter was down 20.3% compared to the same quarter last year. Research analysts anticipate that C3.ai, Inc. will post -2.44 earnings per share for the current year.

Analyst Ratings Changes

AI has been the subject of several analyst reports. DA Davidson restated an “underperform” rating and issued a $13.00 target price on shares of C3.ai in a report on Thursday, December 4th. JMP Securities reduced their price objective on shares of C3.ai from $30.00 to $24.00 and set a “market outperform” rating on the stock in a research report on Thursday, September 4th. KeyCorp cut their target price on C3.ai from $18.00 to $10.00 and set an “underweight” rating on the stock in a research note on Thursday, September 4th. Morgan Stanley decreased their price target on C3.ai from $22.00 to $11.00 and set an “underweight” rating for the company in a research note on Tuesday, September 9th. Finally, Needham & Company LLC restated a “hold” rating on shares of C3.ai in a report on Thursday, December 4th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, seven have given a Hold rating and five have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and an average target price of $21.92.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in AI. Silicon Valley Capital Partners acquired a new stake in shares of C3.ai during the second quarter worth $25,000. Larson Financial Group LLC raised its position in C3.ai by 683.6% during the third quarter. Larson Financial Group LLC now owns 1,481 shares of the company’s stock valued at $26,000 after acquiring an additional 1,292 shares in the last quarter. Parallel Advisors LLC lifted its stake in shares of C3.ai by 76.4% in the 3rd quarter. Parallel Advisors LLC now owns 1,849 shares of the company’s stock valued at $32,000 after purchasing an additional 801 shares during the period. Financial Consulate Inc. acquired a new position in shares of C3.ai in the third quarter worth about $36,000. Finally, Clearstead Advisors LLC increased its position in shares of C3.ai by 58.0% in the third quarter. Clearstead Advisors LLC now owns 2,350 shares of the company’s stock valued at $41,000 after buying an additional 863 shares in the last quarter. 38.96% of the stock is owned by institutional investors and hedge funds.

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.