C3.ai, Inc. (NYSE:AI – Get Free Report) has received an average rating of “Reduce” from the fourteen research firms that are currently covering the firm, MarketBeat reports. Seven equities research analysts have rated the stock with a sell recommendation, five have given a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $9.62.
A number of equities research analysts have issued reports on AI shares. Needham & Company LLC reiterated a “hold” rating on shares of C3.ai in a research note on Thursday, September 3rd. Canaccord Genuity Group restated a “hold” rating and set a $10.00 price target on shares of C3.ai in a research report on Thursday, September 3rd. Wall Street Zen raised shares of C3.ai from a “sell” rating to a “hold” rating in a report on Sunday, October 11th. DA Davidson reiterated an “underperform” rating and issued a $7.00 price objective on shares of C3.ai in a research report on Tuesday, September 1st. Finally, Citigroup reiterated a “market perform” rating on shares of C3.ai in a research report on Thursday, September 3rd.
Get Our Latest Research Report on C3.ai
C3.ai Stock Down 5.0%
Shares of NYSE:AI opened at $11.37 on Friday. C3.ai has a fifty-two week low of $7.68 and a fifty-two week high of $17.45. The firm has a 50-day simple moving average of $11.19 and a 200 day simple moving average of $10.05.
C3.ai (NYSE:AI – Get Free Report) last posted its earnings results on Wednesday, September 2nd. The company reported ($0.20) EPS for the quarter, beating the consensus estimate of ($0.26) by $0.06. The company had revenue of $52.38 million during the quarter, compared to analyst estimates of $52.06 million. C3.ai had a negative return on equity of 61.25% and a negative net margin of 192.10%. The business’s revenue was down 25.4% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.37) earnings per share. As a group, analysts expect that C3.ai will post -2.20 EPS for the current fiscal year.
Insider Activity at C3.ai
In other C3.ai news, CEO Thomas Siebel sold 435,363 shares of the firm’s stock in a transaction that occurred on Tuesday, October 13th. The shares were sold at an average price of $11.82, for a total value of $5,145,990.66. Following the sale, the chief executive officer owned 722,362 shares in the company, valued at approximately $8,538,318.84. This trade represents a 37.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Hitesh Lath sold 20,000 shares of C3.ai stock in a transaction that occurred on Monday, October 12th. The shares were sold at an average price of $12.37, for a total value of $247,400.00. Following the sale, the chief financial officer directly owned 305,250 shares in the company, valued at approximately $3,775,942.50. This trade represents a 6.15% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 1,413,672 shares of company stock worth $15,577,026 in the last 90 days. 19.80% of the stock is owned by company insiders.
Institutional Trading of C3.ai
Large investors have recently added to or reduced their stakes in the business. Western Wealth Management LLC bought a new position in C3.ai in the 1st quarter valued at about $26,000. CoreCap Advisors LLC raised its position in shares of C3.ai by 34.0% during the 2nd quarter. CoreCap Advisors LLC now owns 6,145 shares of the company’s stock worth $56,000 after buying an additional 1,560 shares in the last quarter. Versant Capital Management Inc raised its position in shares of C3.ai by 1,510.1% during the 2nd quarter. Versant Capital Management Inc now owns 6,859 shares of the company’s stock worth $62,000 after buying an additional 6,433 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of C3.ai during the 3rd quarter worth about $85,000. Finally, Fifth Third Bancorp raised its position in shares of C3.ai by 12.2% during the 3rd quarter. Fifth Third Bancorp now owns 8,765 shares of the company’s stock worth $96,000 after buying an additional 955 shares in the last quarter. 38.96% of the stock is currently owned by institutional investors and hedge funds.
C3.ai Company Profile
C3.ai, Inc (NYSE:AI) is an enterprise artificial intelligence software company that develops applications and tools designed to help organizations deploy AI at scale. Its products support the development, integration and operation of AI applications using data from multiple business systems and sources.
The company’s offerings include the C3 AI Platform, which provides capabilities for data management, machine learning, application development and model operations, as well as prebuilt applications for areas such as predictive maintenance, fraud detection, supply-chain optimization, customer engagement and energy management.
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