Wall Street Zen upgraded shares of C3.ai (NYSE:AI – Free Report) from a sell rating to a hold rating in a research note released on Sunday morning,Wall Street Zen reports.
A number of other research analysts also recently commented on AI. Citigroup reissued a “market perform” rating on shares of C3.ai in a report on Thursday, September 3rd. Needham & Company LLC restated a “hold” rating on shares of C3.ai in a report on Thursday, September 3rd. Weiss Ratings raised C3.ai from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, August 4th. Canaccord Genuity Group reaffirmed a “hold” rating and issued a $10.00 target price on shares of C3.ai in a research report on Thursday, September 3rd. Finally, UBS Group reiterated an “underperform” rating on shares of C3.ai in a research note on Tuesday, September 1st. One equities research analyst has rated the stock with a Buy rating, four have given a Hold rating and seven have issued a Sell rating to the stock. According to data from MarketBeat, C3.ai has a consensus rating of “Reduce” and an average target price of $8.70.
View Our Latest Research Report on AI
C3.ai Price Performance
C3.ai (NYSE:AI – Get Free Report) last announced its earnings results on Wednesday, September 2nd. The company reported ($0.20) earnings per share for the quarter, beating the consensus estimate of ($0.26) by $0.06. C3.ai had a negative return on equity of 61.25% and a negative net margin of 192.10%. The company had revenue of $52.38 million during the quarter, compared to the consensus estimate of $52.06 million. During the same period last year, the firm earned ($0.37) earnings per share. The company’s revenue was down 25.4% on a year-over-year basis. On average, sell-side analysts anticipate that C3.ai will post -2.21 EPS for the current year.
Insider Transactions at C3.ai
In related news, CFO Hitesh Lath sold 21,077 shares of C3.ai stock in a transaction dated Wednesday, September 16th. The stock was sold at an average price of $10.48, for a total value of $220,886.96. Following the completion of the transaction, the chief financial officer directly owned 371,036 shares in the company, valued at approximately $3,888,457.28. This trade represents a 5.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Thomas M. Siebel sold 162,247 shares of the business’s stock in a transaction dated Wednesday, September 16th. The shares were sold at an average price of $10.54, for a total value of $1,710,083.38. Following the completion of the sale, the chief executive officer directly owned 722,362 shares of the company’s stock, valued at approximately $7,613,695.48. This represents a 18.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 1,117,809 shares of company stock worth $11,724,230. Company insiders own 19.80% of the company’s stock.
Institutional Inflows and Outflows
A number of large investors have recently bought and sold shares of AI. Western Wealth Management LLC acquired a new position in shares of C3.ai in the 1st quarter valued at about $26,000. AdvisorNet Financial Inc bought a new stake in shares of C3.ai during the first quarter valued at approximately $34,000. CoreCap Advisors LLC raised its holdings in shares of C3.ai by 34.0% during the second quarter. CoreCap Advisors LLC now owns 6,145 shares of the company’s stock valued at $56,000 after buying an additional 1,560 shares during the last quarter. Versant Capital Management Inc raised its holdings in shares of C3.ai by 1,510.1% during the second quarter. Versant Capital Management Inc now owns 6,859 shares of the company’s stock valued at $62,000 after buying an additional 6,433 shares during the last quarter. Finally, Nykredit A S acquired a new position in shares of C3.ai during the second quarter worth approximately $84,000. Institutional investors own 38.96% of the company’s stock.
About C3.ai
C3.ai, Inc is an enterprise artificial intelligence software company that develops applications and tools designed to help organizations use AI and machine learning to analyze data, automate processes and support business decision-making. The company’s offerings are intended for large commercial enterprises, government agencies and other organizations managing complex operational and data environments.
Its product portfolio includes the C3 AI Platform, which provides capabilities for developing, deploying and operating AI applications, as well as prebuilt enterprise applications.
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