Key Points
- CFO Hitesh Lath sold 15,042 shares on Dec. 16 at an average price of $14.38 for a total of $216,303.96, leaving him with 223,120 shares — a 6.32% reduction in his stake.
- C3.ai slightly beat quarterly EPS estimates (‑$0.25 vs. ‑$0.33) on $75.15M revenue, but revenue fell 20.3% year‑over‑year and the company shows negative net margin and ROE; analysts’ consensus is a "Reduce" rating with an average target of $21.92 and several firms cutting their price targets.
C3.ai, Inc. (NYSE:AI - Get Free Report) CFO Hitesh Lath sold 15,042 shares of C3.ai stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $14.38, for a total transaction of $216,303.96. Following the completion of the transaction, the chief financial officer owned 223,120 shares of the company's stock, valued at $3,208,465.60. This trade represents a 6.32% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.
C3.ai Stock Up 0.8%
C3.ai stock traded up $0.12 during mid-day trading on Thursday, reaching $14.17. 470,171 shares of the company's stock were exchanged, compared to its average volume of 6,546,725. C3.ai, Inc. has a twelve month low of $12.59 and a twelve month high of $39.64. The company has a market cap of $1.95 billion, a P/E ratio of -5.03 and a beta of 1.97. The company has a fifty day moving average of $15.92 and a 200-day moving average of $19.62.
C3.ai (NYSE:AI - Get Free Report) last posted its quarterly earnings results on Wednesday, December 3rd. The company reported ($0.25) EPS for the quarter, topping the consensus estimate of ($0.33) by $0.08. The business had revenue of $75.15 million during the quarter, compared to the consensus estimate of $74.86 million. C3.ai had a negative net margin of 108.06% and a negative return on equity of 46.51%. The company's quarterly revenue was down 20.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.06) earnings per share. Equities research analysts expect that C3.ai, Inc. will post -2.44 earnings per share for the current fiscal year.
Institutional Trading of C3.ai
Several institutional investors have recently modified their holdings of AI. Silicon Valley Capital Partners acquired a new position in shares of C3.ai in the 2nd quarter valued at $25,000. Larson Financial Group LLC lifted 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 valued at $26,000 after acquiring an additional 1,292 shares during the last quarter. Parallel Advisors LLC boosted its stake in C3.ai by 76.4% in the third quarter. Parallel Advisors LLC now owns 1,849 shares of the company's stock valued at $32,000 after acquiring an additional 801 shares in the last quarter. Financial Consulate Inc. purchased a new position in shares of C3.ai during the third quarter worth about $36,000. Finally, Clearstead Advisors LLC increased its position in shares of C3.ai by 58.0% during the third quarter. Clearstead Advisors LLC now owns 2,350 shares of the company's stock worth $41,000 after purchasing an additional 863 shares in the last quarter. Hedge funds and other institutional investors own 38.96% of the company's stock.
Analysts Set New Price Targets
AI has been the topic of several recent research reports. Morgan Stanley cut their price target on C3.ai from $22.00 to $11.00 and set an "underweight" rating on the stock in a report on Tuesday, September 9th. Canaccord Genuity Group reissued a "hold" rating and set a $16.00 price objective on shares of C3.ai in a research report on Thursday, December 4th. JMP Securities reduced their target price on shares of C3.ai from $30.00 to $24.00 and set a "market outperform" rating on the stock in a report on Thursday, September 4th. Needham & Company LLC reiterated a "hold" rating on shares of C3.ai in a report on Thursday, December 4th. Finally, DA Davidson reissued an "underperform" rating and issued a $13.00 price objective on shares of C3.ai in a research report on Thursday, December 4th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, seven have issued a Hold rating and five have given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Reduce" and an average target price of $21.92.
Read Our Latest Research Report on C3.ai
C3.ai Company Profile
(
Get Free Report)
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.
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