C3.ai (NYSE:AI) CFO Hitesh Lath Sells 20,000 Shares of Stock

C3.ai, Inc. (NYSE:AI) CFO Hitesh Lath sold 20,000 shares of the stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $10.00, for a total value of $200,000.00. Following the transaction, the chief financial officer directly owned 363,106 shares of the company’s stock, valued at $3,631,060. The trade was a 5.22% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Hitesh Lath also recently made the following trade(s):

• On Tuesday, June 30th, Hitesh Lath sold 48,619 shares of C3.ai stock. The shares were sold at an average price of $8.77, for a total value of $426,388.63.
• On Tuesday, June 16th, Hitesh Lath sold 34,210 shares of C3.ai stock. The stock was sold at an average price of $10.95, for a total value of $374,599.50.

C3.ai Stock Performance

Shares of AI opened at $9.85 on Friday. C3.ai, Inc. has a one year low of $7.68 and a one year high of $23.68. The stock has a market capitalization of $1.53 billion, a price-to-earnings ratio of -2.95 and a beta of 2.08. The stock has a 50 day moving average price of $9.61 and a 200 day moving average price of $9.64.

C3.ai (NYSE:AI) last posted its quarterly earnings data on Wednesday, June 3rd. The company reported ($0.33) EPS for the quarter, beating the consensus estimate of ($0.38) by $0.05. C3.ai had a negative return on equity of 62.44% and a negative net margin of 187.95%.The firm had revenue of $51.60 million during the quarter, compared to the consensus estimate of $51.60 million. During the same period in the prior year, the company earned ($0.16) EPS. The firm’s revenue was down 52.5% compared to the same quarter last year. On average, analysts predict that C3.ai, Inc. will post -2.28 earnings per share for the current year.

Analyst Upgrades and Downgrades

AI has been the topic of several research reports. DA Davidson reissued an “underperform” rating and issued a $7.00 price target on shares of C3.ai in a research note on Thursday, June 4th. Needham & Company LLC reiterated a “hold” rating on shares of C3.ai in a report on Thursday, June 4th. Canaccord Genuity Group raised their target price on shares of C3.ai from $8.00 to $10.00 and gave the stock a “hold” rating in a research note on Thursday, June 4th. UBS Group boosted their target price on C3.ai from $9.00 to $12.00 and gave the stock a “neutral” rating in a report on Thursday, June 4th. Finally, Morgan Stanley upped their price target on C3.ai from $6.00 to $7.00 and gave the company an “underweight” rating in a research report on Thursday, June 4th. One analyst has rated the stock with a Buy rating, six have given a Hold rating and six have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus target price of $10.67.

Institutional Trading of C3.ai

Several hedge funds have recently made changes to their positions in the company. Bank of America Corp DE grew its holdings in shares of C3.ai by 55.1% during the 1st quarter. Bank of America Corp DE now owns 3,282,183 shares of the company’s stock worth $27,636,000 after purchasing an additional 1,166,302 shares during the period. Dimensional Fund Advisors LP raised its holdings in C3.ai by 77.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,804,188 shares of the company’s stock valued at $31,284,000 after buying an additional 785,508 shares during the period. Two Sigma Investments LP purchased a new stake in C3.ai in the 3rd quarter valued at about $13,379,000. Voloridge Investment Management LLC acquired a new position in C3.ai in the fourth quarter valued at about $9,183,000. Finally, Federated Hermes Inc. lifted its position in C3.ai by 93,578.8% in the fourth quarter. Federated Hermes Inc. now owns 675,424 shares of the company’s stock valued at $9,105,000 after buying an additional 674,703 shares during the last quarter. Hedge funds and other 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.