C3.ai, Inc. (NYSE:AI) VP Merel Witteveen Sells 5,719 Shares

C3.ai, Inc. (NYSE:AI) VP Merel Witteveen sold 5,719 shares of the company’s stock in a transaction on Monday, May 19th. The stock was sold at an average price of $23.32, for a total value of $133,367.08. Following the sale, the vice president now owns 12,066 shares of the company’s stock, valued at approximately $281,379.12. This represents a 32.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Wednesday, March 19th, Merel Witteveen sold 1,133 shares of C3.ai stock. The stock was sold at an average price of $22.25, for a total value of $25,209.25.
• On Tuesday, February 25th, Merel Witteveen sold 337 shares of C3.ai stock. The stock was sold at an average price of $26.41, for a total value of $8,900.17.

C3.ai Trading Down 0.2%

Shares of AI stock opened at $23.13 on Wednesday. The stock has a market cap of $3.07 billion, a price-to-earnings ratio of -10.47 and a beta of 1.99. The stock has a 50-day moving average of $21.65 and a 200-day moving average of $28.48. C3.ai, Inc. has a 1-year low of $17.03 and a 1-year high of $45.08.

C3.ai (NYSE:AI) last announced its earnings results on Wednesday, February 26th. The company reported ($0.62) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.37). C3.ai had a negative net margin of 79.17% and a negative return on equity of 31.31%. The business had revenue of $98.78 million for the quarter, compared to the consensus estimate of $98.12 million. Sell-side analysts forecast that C3.ai, Inc. will post -2.44 earnings per share for the current year.

Institutional Investors Weigh In On C3.ai

Several institutional investors and hedge funds have recently made changes to their positions in AI. Janney Montgomery Scott LLC boosted its position in shares of C3.ai by 70.9% during the 4th quarter. Janney Montgomery Scott LLC now owns 55,339 shares of the company’s stock valued at $1,905,000 after purchasing an additional 22,949 shares in the last quarter. McGuire Investment Group LLC bought a new stake in shares of C3.ai during the 4th quarter valued at about $316,000. Geneos Wealth Management Inc. boosted its position in shares of C3.ai by 72.4% during the 4th quarter. Geneos Wealth Management Inc. now owns 1,322 shares of the company’s stock valued at $46,000 after purchasing an additional 555 shares in the last quarter. PFG Investments LLC boosted its position in shares of C3.ai by 4.6% during the 4th quarter. PFG Investments LLC now owns 23,290 shares of the company’s stock valued at $802,000 after purchasing an additional 1,017 shares in the last quarter. Finally, Kingswood Wealth Advisors LLC bought a new stake in shares of C3.ai during the 4th quarter valued at about $633,000. Institutional investors own 38.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on AI shares. KeyCorp lowered their target price on C3.ai from $21.00 to $17.00 and set an “underweight” rating for the company in a report on Thursday, April 17th. Needham & Company LLC reaffirmed a “hold” rating on shares of C3.ai in a report on Thursday, February 27th. Morgan Stanley lowered their target price on C3.ai from $30.00 to $20.00 and set an “underweight” rating for the company in a report on Wednesday, April 16th. Canaccord Genuity Group lowered their target price on C3.ai from $40.00 to $30.00 and set a “hold” rating for the company in a report on Thursday, February 27th. Finally, Piper Sandler lowered their target price on C3.ai from $42.00 to $28.00 and set a “neutral” rating for the company in a report on Thursday, February 27th. Five research analysts have rated the stock with a sell rating, five have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $29.58.

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.