Insider Selling: C3.ai (NYSE:AI) CEO Sells $3,185,488.08 in Stock

C3.ai, Inc. (NYSE:AI) CEO Stephen Bradley Ehikian sold 234,918 shares of the stock in a transaction dated Wednesday, December 31st. The stock was sold at an average price of $13.56, for a total transaction of $3,185,488.08. Following the completion of the sale, the chief executive officer directly owned 924,074 shares in the company, valued at approximately $12,530,443.44. This trade represents a 20.27% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

C3.ai Stock Up 1.6%

C3.ai stock opened at $13.70 on Monday. C3.ai, Inc. has a 52-week low of $12.59 and a 52-week high of $38.58. The firm has a market capitalization of $1.93 billion, a price-to-earnings ratio of -4.84 and a beta of 1.97. The firm has a 50-day moving average price of $14.86 and a two-hundred day moving average price of $18.65.

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

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Wedbush reissued an “outperform” rating and set a $20.00 price target on shares of C3.ai in a report on Thursday, December 4th. Canaccord Genuity Group reissued a “hold” rating and set a $16.00 target price on shares of C3.ai in a research note on Thursday, December 4th. Weiss Ratings restated a “sell (d-)” rating on shares of C3.ai in a research report on Wednesday, October 8th. Needham & Company LLC reiterated a “hold” rating on shares of C3.ai in a report on Thursday, December 4th. Finally, Morgan Stanley lowered their price objective on shares of C3.ai from $22.00 to $11.00 and set an “underweight” rating on the stock in a research note on Tuesday, September 9th. One investment 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 assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus target price of $21.92.

Hedge Funds Weigh In On C3.ai

Several hedge funds have recently made changes to their positions in AI. CIBC Private Wealth Group LLC raised its holdings in shares of C3.ai by 22.1% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 24,607 shares of the company’s stock worth $427,000 after purchasing an additional 4,446 shares in the last quarter. CIBC Bancorp USA Inc. acquired a new position in C3.ai in the third quarter worth approximately $227,000. Mayport LLC bought a new position in shares of C3.ai in the third quarter valued at $191,000. XTX Topco Ltd acquired a new stake in shares of C3.ai during the 3rd quarter valued at $1,702,000. Finally, Nomura Holdings Inc. boosted its stake in shares of C3.ai by 36.1% during the 3rd quarter. Nomura Holdings Inc. now owns 32,943 shares of the company’s stock worth $571,000 after acquiring an additional 8,733 shares in the last quarter. Institutional investors and hedge funds own 38.96% of the company’s stock.

C3.ai Company Profile

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.