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

C3.ai, Inc. (NYSE:AI) CFO Hitesh Lath sold 20,000 shares of the firm’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $10.00, for a total value of $200,000.00. Following the completion of the sale, the chief financial officer directly owned 363,106 shares of the company’s stock, valued at approximately $3,631,060. This trade represents a 5.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 shares were sold at an average price of $10.95, for a total value of $374,599.50.

C3.ai Trading Up 4.1%

Shares of C3.ai stock opened at $10.26 on Friday. C3.ai, Inc. has a 1 year low of $7.68 and a 1 year high of $22.95. The company has a market cap of $1.60 billion, a P/E ratio of -3.07 and a beta of 2.08. The stock has a 50-day moving average price of $9.60 and a 200 day moving average price of $9.65.

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

Wall Street Analysts Forecast Growth

Several research firms have weighed in on AI. Needham & Company LLC reiterated a “hold” rating on shares of C3.ai in a research note on Thursday, June 4th. Wedbush reissued an “outperform” rating and set a $15.00 target price on shares of C3.ai in a research note on Thursday, June 4th. UBS Group boosted their price target on shares of C3.ai from $9.00 to $12.00 and gave the company a “neutral” rating in a report on Thursday, June 4th. Canaccord Genuity Group increased their price objective on C3.ai from $8.00 to $10.00 and gave the stock a “hold” rating in a report on Thursday, June 4th. Finally, Weiss Ratings upgraded C3.ai from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday. One equities research analyst has rated the stock with a Buy rating, six have issued a Hold rating and six have issued a Sell rating to the stock. According to data from MarketBeat.com, C3.ai has an average rating of “Reduce” and a consensus target price of $10.67.

Hedge Funds Weigh In On C3.ai

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AI. Larson Financial Group LLC grew its position in C3.ai by 683.6% in the third quarter. Larson Financial Group LLC now owns 1,481 shares of the company’s stock worth $26,000 after acquiring an additional 1,292 shares in the last quarter. Parallel Advisors LLC raised its holdings in shares of C3.ai by 76.4% during the 3rd quarter. Parallel Advisors LLC now owns 1,849 shares of the company’s stock valued at $32,000 after purchasing an additional 801 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in shares of C3.ai by 66.1% during the 4th quarter. Farther Finance Advisors LLC now owns 2,141 shares of the company’s stock valued at $29,000 after purchasing an additional 852 shares in the last quarter. Comerica Bank lifted its stake in shares of C3.ai by 839.1% in the 4th quarter. Comerica Bank now owns 2,423 shares of the company’s stock valued at $33,000 after purchasing an additional 2,165 shares during the last quarter. Finally, NewEdge Advisors LLC lifted its stake in shares of C3.ai by 48.7% in the 1st quarter. NewEdge Advisors LLC now owns 2,442 shares of the company’s stock valued at $51,000 after purchasing an additional 800 shares during the last quarter. 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.