Insider Selling: C3.ai, Inc. (NYSE:AI) VP Sells 1,133 Shares of Stock

C3.ai, Inc. (NYSE:AI) VP Merel Witteveen sold 1,133 shares of C3.ai stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $22.25, for a total transaction of $25,209.25. Following the completion of the transaction, the vice president now owns 7,287 shares of the company’s stock, valued at $162,135.75. This trade represents a 13.46 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

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

• On Tuesday, February 25th, Merel Witteveen sold 337 shares of C3.ai stock. The shares were sold at an average price of $26.41, for a total value of $8,900.17.
• On Monday, December 30th, Merel Witteveen sold 11,132 shares of C3.ai stock. The stock was sold at an average price of $34.95, for a total value of $389,063.40.

C3.ai Trading Up 1.2 %

C3.ai stock opened at $22.65 on Friday. The firm has a market capitalization of $3.01 billion, a P/E ratio of -10.25 and a beta of 2.03. The business has a 50-day moving average of $28.42 and a 200-day moving average of $29.29. C3.ai, Inc. has a 1 year low of $18.85 and a 1 year high of $45.08.

C3.ai (NYSE:AI) last issued its quarterly earnings data on Wednesday, February 26th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.37). The firm had revenue of $98.78 million for the quarter, compared to analyst estimates of $98.12 million. C3.ai had a negative net margin of 79.17% and a negative return on equity of 31.31%. Research analysts anticipate that C3.ai, Inc. will post -2.44 EPS for the current fiscal year.

Institutional Trading of C3.ai

Hedge funds have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. increased its holdings in shares of C3.ai by 12.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 844,389 shares of the company’s stock worth $20,460,000 after acquiring an additional 92,280 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in C3.ai during the 4th quarter worth approximately $3,996,000. PDT Partners LLC acquired a new stake in C3.ai during the 3rd quarter worth approximately $1,624,000. Janney Montgomery Scott LLC boosted its holdings in shares of C3.ai by 70.9% in the fourth quarter. Janney Montgomery Scott LLC now owns 55,339 shares of the company’s stock valued at $1,905,000 after buying an additional 22,949 shares during the period. Finally, Strategic Financial Concepts LLC bought a new stake in shares of C3.ai during the fourth quarter worth $2,015,000. Institutional investors and hedge funds own 38.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on AI shares. Canaccord Genuity Group cut their price target on C3.ai from $40.00 to $30.00 and set a “hold” rating for the company in a report on Thursday, February 27th. KeyCorp reduced their target price on shares of C3.ai from $29.00 to $21.00 and set an “underweight” rating on the stock in a research report on Thursday, February 27th. Morgan Stanley lowered their price target on shares of C3.ai from $32.00 to $30.00 and set an “underweight” rating for the company in a report on Thursday, February 27th. JMP Securities upped their price objective on C3.ai from $40.00 to $55.00 and gave the stock a “market outperform” rating in a report on Tuesday, December 10th. Finally, JPMorgan Chase & Co. cut C3.ai from a “neutral” rating to an “underweight” rating and set a $28.00 target price for the company. in a research note on Wednesday, December 11th. Five research analysts have rated the stock with a sell rating, five have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $31.33.

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.