C3.ai, Inc. (NYSE:AI) VP Sells $44,853.30 in Stock

C3.ai, Inc. (NYSE:AI) VP Merel Witteveen sold 1,710 shares of the stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $26.23, for a total transaction of $44,853.30. Following the completion of the sale, the vice president now directly owns 9,225 shares in the company, valued at approximately $241,971.75. The trade was a 15.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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

• On Thursday, May 29th, Merel Witteveen sold 4,951 shares of C3.ai stock. The shares were sold at an average price of $27.63, for a total transaction of $136,796.13.
• On Tuesday, May 27th, Merel Witteveen sold 805 shares of C3.ai stock. The stock was 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 stock was sold at an average price of $22.25, for a total value of $25,209.25.

C3.ai Stock Down 3.8%

Shares of C3.ai stock opened at $24.64 on Thursday. C3.ai, Inc. has a fifty-two week low of $17.03 and a fifty-two week high of $45.08. The firm has a market cap of $3.27 billion, a PE ratio of -11.15 and a beta of 2.04. The business’s fifty day moving average is $22.53 and its two-hundred day moving average is $28.02.

C3.ai (NYSE:AI) last issued its earnings results on Wednesday, May 28th. The company reported ($0.16) earnings per share for the quarter, topping the consensus estimate of ($0.20) by $0.04. C3.ai had a negative return on equity of 31.31% and a negative net margin of 79.17%. The business had revenue of $108.72 million for the quarter, compared to analyst estimates of $107.85 million. During the same period last year, the company posted ($0.11) EPS. The business’s quarterly revenue was up 25.5% on a year-over-year basis. Equities research analysts anticipate that C3.ai, Inc. will post -2.44 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. boosted its holdings 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 acquired a new position in C3.ai in the fourth quarter valued at $33,000. Orion Capital Management LLC acquired a new position in C3.ai in the fourth quarter valued at $34,000. Raiffeisen Bank International AG acquired a new position in C3.ai in the fourth quarter valued at $36,000. Finally, Harvest Fund Management Co. Ltd acquired a new position in C3.ai in the fourth quarter valued at $36,000. Institutional investors and hedge funds own 38.96% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Oppenheimer reduced their price objective on C3.ai from $56.00 to $45.00 and set an “outperform” rating on the stock in a research report on Thursday, May 29th. Canaccord Genuity Group lowered their price target on shares of C3.ai from $30.00 to $28.00 and set a “hold” rating for the company in a report on Thursday, May 29th. Needham & Company LLC reissued a “hold” rating on shares of C3.ai in a research report on Thursday, May 29th. UBS Group restated a “neutral” rating and set a $28.00 target price (up previously from $26.00) on shares of C3.ai in a research report on Thursday, May 29th. Finally, Wall Street Zen cut shares of C3.ai from a “hold” rating to a “sell” rating in a research note on Friday, June 6th. Five research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $29.46.

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.