C3.ai (NYSE:AI) CEO Sells $477,621.90 in Stock

C3.ai, Inc. (NYSE:AI) CEO Stephen Bradley Ehikian sold 50,542 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $9.45, for a total value of $477,621.90. Following the completion of the transaction, the chief executive officer owned 651,130 shares in the company, valued at $6,153,178.50. This represents a 7.20% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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%

AI stock opened at $9.07 on Friday. The stock has a market cap of $1.41 billion, a P/E ratio of -2.71 and a beta of 2.06. The stock’s fifty day simple moving average is $9.68 and its two-hundred day simple moving average is $10.50. C3.ai, Inc. has a 1-year low of $7.68 and a 1-year high of $30.11.

C3.ai (NYSE:AI) last announced its earnings results on Wednesday, June 3rd. The company reported ($0.33) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.38) by $0.05. The firm had revenue of $51.60 million during the quarter, compared to analyst estimates of $51.60 million. C3.ai had a negative return on equity of 62.44% and a negative net margin of 187.95%.The business’s revenue was down 52.5% compared to the same quarter last year. During the same period last year, the firm posted ($0.16) EPS. As a group, analysts forecast that C3.ai, Inc. will post -2.28 earnings per share for the current fiscal year.

Hedge Funds Weigh In On C3.ai

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in shares of C3.ai by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 14,469,953 shares of the company’s stock valued at $195,055,000 after purchasing an additional 108,011 shares during the period. Morgan Stanley grew its stake in C3.ai by 1.9% in the 4th quarter. Morgan Stanley now owns 4,824,499 shares of the company’s stock valued at $65,034,000 after buying an additional 91,802 shares in the last quarter. Bank of America Corp DE raised its holdings in C3.ai by 55.1% during the 1st quarter. Bank of America Corp DE now owns 3,282,183 shares of the company’s stock valued at $27,636,000 after acquiring an additional 1,166,302 shares during the period. State Street Corp raised its holdings in C3.ai by 3.3% during the 4th quarter. State Street Corp now owns 2,976,389 shares of the company’s stock valued at $40,122,000 after acquiring an additional 94,086 shares during the period. Finally, Geode Capital Management LLC lifted its position in shares of C3.ai by 0.8% during the fourth quarter. Geode Capital Management LLC now owns 2,868,578 shares of the company’s stock worth $38,675,000 after acquiring an additional 21,451 shares in the last quarter. Institutional investors own 38.96% of the company’s stock.

Analyst Ratings Changes

AI has been the subject of a number of research reports. DA Davidson reissued 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 reaffirmed a “hold” rating on shares of C3.ai in a report on Thursday, June 4th. UBS Group upped their price objective on C3.ai from $9.00 to $12.00 and gave the company a “neutral” rating in a research note on Thursday, June 4th. Citizens Jmp reissued a “market perform” rating on shares of C3.ai in a report on Thursday, June 4th. Finally, KeyCorp reissued an “underweight” rating on shares of C3.ai in a research report on Thursday, June 4th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, six have issued a Hold rating and six have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus price target of $12.92.

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.