Insider Selling: C3.ai (NYSE:AI) CEO Sells 52,194 Shares of Stock

C3.ai, Inc. (NYSE:AI) CEO Stephen Bradley Ehikian sold 52,194 shares of C3.ai stock in a transaction on Tuesday, March 31st. The shares were sold at an average price of $8.22, for a total value of $429,034.68. Following the transaction, the chief executive officer owned 721,485 shares in the company, valued at approximately $5,930,606.70. This trade represents a 6.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

C3.ai Price Performance

Shares of AI traded up $0.15 during midday trading on Thursday, reaching $8.62. The stock had a trading volume of 897,662 shares, compared to its average volume of 6,802,031. The company has a market capitalization of $1.25 billion, a P/E ratio of -2.73 and a beta of 2.08. The firm’s 50 day moving average price is $9.94 and its 200-day moving average price is $13.71. C3.ai, Inc. has a 52 week low of $7.68 and a 52 week high of $30.24.

C3.ai (NYSE:AI) last announced its earnings results on Wednesday, February 25th. The company reported ($0.40) earnings per share for the quarter, missing the consensus estimate of ($0.29) by ($0.11). The firm had revenue of $53.26 million for the quarter, compared to the consensus estimate of $75.91 million. C3.ai had a negative net margin of 141.35% and a negative return on equity of 55.40%. The company’s quarterly revenue was down 46.1% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.12) EPS. On average, equities analysts forecast that C3.ai, Inc. will post -2.44 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have recently issued reports on AI. Needham & Company LLC reaffirmed a “hold” rating on shares of C3.ai in a research note on Thursday, December 4th. UBS Group restated a “reduce” rating on shares of C3.ai in a research report on Thursday, February 26th. Citizens Jmp lowered C3.ai from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 26th. BMO Capital Markets set a $7.00 target price on C3.ai in a research report on Thursday, February 26th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of C3.ai in a research note on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, seven have given a Hold rating and six have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of $15.87.

Institutional Trading of C3.ai

Several hedge funds and other institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its position in C3.ai by 77.1% during the third quarter. Dimensional Fund Advisors LP now owns 1,804,188 shares of the company’s stock valued at $31,284,000 after purchasing an additional 785,508 shares during the last quarter. Two Sigma Investments LP purchased a new stake in shares of C3.ai during the 3rd quarter worth about $13,379,000. Voloridge Investment Management LLC purchased a new stake in shares of C3.ai during the 4th quarter worth about $9,183,000. Federated Hermes Inc. lifted its holdings in shares of C3.ai by 93,578.8% during the 4th 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. Finally, Quantbot Technologies LP grew its stake in shares of C3.ai by 2,831.4% in the 3rd quarter. Quantbot Technologies LP now owns 554,472 shares of the company’s stock valued at $9,615,000 after buying an additional 535,557 shares in the last quarter. 38.96% of the stock is currently owned by hedge funds and other institutional investors.

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.