C3.ai, Inc. (NYSE:AI – Get Free Report) has earned an average rating of “Reduce” from the eleven analysts that are currently covering the stock, MarketBeat reports. Six analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and one has given a buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $10.0909.
AI has been the subject of a number of recent analyst reports. Wedbush reiterated an “outperform” rating and set a $15.00 price target on shares of C3.ai in a research report on Thursday, June 4th. Canaccord Genuity Group lifted their target price on C3.ai from $8.00 to $10.00 and gave the company a “hold” rating in a research note on Thursday, June 4th. KeyCorp reiterated an “underweight” rating on shares of C3.ai in a research report on Thursday, June 4th. DA Davidson reiterated an “underperform” rating and issued a $7.00 price objective on shares of C3.ai in a research report on Thursday, June 4th. Finally, Weiss Ratings raised C3.ai from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, August 4th.
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C3.ai Stock Down 1.2%
C3.ai (NYSE:AI – Get Free Report) last issued its earnings results on Wednesday, June 3rd. The company reported ($0.33) EPS for the quarter, topping analysts’ consensus estimates of ($0.38) by $0.05. The business had revenue of $51.60 million for the quarter, compared to analyst estimates of $51.60 million. C3.ai had a negative net margin of 187.95% and a negative return on equity of 62.44%. The company’s quarterly revenue was down 52.5% compared to the same quarter last year. During the same period last year, the company posted ($0.16) earnings per share. As a group, equities research analysts expect that C3.ai will post -2.28 EPS for the current year.
Insider Buying and Selling at C3.ai
In other news, CFO Hitesh Lath sold 48,619 shares of the business’s stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $8.77, for a total transaction of $426,388.63. Following the sale, the chief financial officer directly owned 383,106 shares in the company, valued at approximately $3,359,839.62. The trade was a 11.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Stephen Bradley Ehikian sold 50,542 shares of the business’s stock in a transaction on Wednesday, July 1st. The stock was 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 directly owned 651,130 shares in the company, valued at approximately $6,153,178.50. This represents a 7.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 1,259,110 shares of company stock valued at $13,281,297. Company insiders own 26.50% of the company’s stock.
Institutional Inflows and Outflows
A number of hedge funds have recently added to or reduced their stakes in the business. NewEdge Advisors LLC increased its stake in C3.ai by 48.7% during the first quarter. NewEdge Advisors LLC now owns 2,442 shares of the company’s stock worth $51,000 after acquiring an additional 800 shares during the last quarter. Parallel Advisors LLC boosted its position in shares of C3.ai by 76.4% during the 3rd quarter. Parallel Advisors LLC now owns 1,849 shares of the company’s stock worth $32,000 after purchasing an additional 801 shares during the period. BOKF NA boosted its position in shares of C3.ai by 20.7% during the 3rd quarter. BOKF NA now owns 4,709 shares of the company’s stock worth $82,000 after purchasing an additional 809 shares during the period. Farther Finance Advisors LLC increased its holdings in C3.ai by 66.1% in the 4th quarter. Farther Finance Advisors LLC now owns 2,141 shares of the company’s stock valued at $29,000 after purchasing an additional 852 shares during the last quarter. Finally, Geneos Wealth Management Inc. lifted its stake in C3.ai by 29.6% during the fourth quarter. Geneos Wealth Management Inc. now owns 4,373 shares of the company’s stock worth $59,000 after purchasing an additional 1,000 shares in the last quarter. Institutional investors own 38.96% of the company’s stock.
About C3.ai
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.
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