Hitesh Lath Sells 15,042 Shares of C3.ai (NYSE:AI) Stock

C3.ai, Inc. (NYSE:AI) CFO Hitesh Lath sold 15,042 shares of the stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $14.38, for a total value of $216,303.96. Following the transaction, the chief financial officer directly owned 223,120 shares of the company’s stock, valued at approximately $3,208,465.60. This trade represents a 6.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

C3.ai Price Performance

Shares of AI opened at $13.78 on Friday. C3.ai, Inc. has a 1 year low of $12.59 and a 1 year high of $39.64. The stock’s fifty day moving average price is $15.82 and its two-hundred day moving average price is $19.58. The firm has a market cap of $1.90 billion, a PE ratio of -4.87 and a beta of 1.97.

C3.ai (NYSE:AI) last announced its quarterly earnings data on Wednesday, December 3rd. The company reported ($0.25) earnings per share for the quarter, topping the consensus estimate of ($0.33) by $0.08. C3.ai had a negative return on equity of 46.51% and a negative net margin of 108.06%.The company had revenue of $75.15 million during the quarter, compared to analyst estimates of $74.86 million. During the same quarter last year, the firm posted ($0.06) EPS. The firm’s revenue for the quarter was down 20.3% on a year-over-year basis. Sell-side analysts anticipate that C3.ai, Inc. will post -2.44 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Bogart Wealth LLC grew its stake in C3.ai by 22.7% in the second quarter. Bogart Wealth LLC now owns 2,700 shares of the company’s stock worth $66,000 after purchasing an additional 500 shares during the period. PNC Financial Services Group Inc. boosted its holdings in shares of C3.ai by 8.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 6,546 shares of the company’s stock valued at $138,000 after buying an additional 510 shares in the last quarter. ProShare Advisors LLC boosted its holdings in shares of C3.ai by 2.4% during the 2nd quarter. ProShare Advisors LLC now owns 25,548 shares of the company’s stock valued at $628,000 after buying an additional 593 shares in the last quarter. Moors & Cabot Inc. grew its position in shares of C3.ai by 5.2% in the 2nd quarter. Moors & Cabot Inc. now owns 14,263 shares of the company’s stock worth $350,000 after buying an additional 700 shares during the period. Finally, Ameritas Investment Partners Inc. increased its stake in shares of C3.ai by 6.8% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 12,365 shares of the company’s stock worth $304,000 after acquiring an additional 791 shares in the last quarter. Institutional investors own 38.96% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on AI. Canaccord Genuity Group reiterated a “hold” rating and issued a $16.00 target price on shares of C3.ai in a research note on Thursday, December 4th. JMP Securities lowered their target price on shares of C3.ai from $30.00 to $24.00 and set a “market outperform” rating on the stock in a report on Thursday, September 4th. Needham & Company LLC reaffirmed a “hold” rating on shares of C3.ai in a report on Thursday, December 4th. Morgan Stanley reduced their price target on C3.ai from $22.00 to $11.00 and set an “underweight” rating for the company in a research report on Tuesday, September 9th. Finally, DA Davidson reiterated an “underperform” rating and set a $13.00 price objective on shares of C3.ai in a research note on Thursday, December 4th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, seven have given a Hold rating and five have given a Sell rating to the company. According to MarketBeat.com, C3.ai has an average rating of “Reduce” and an average target price of $21.92.

C3.ai Company Profile

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.