Key Points
- C3.ai CEO Stephen Bradley Ehikian sold 234,918 shares on Dec. 31 at an average price of $13.56 for about $3.19M, trimming his stake by 20.27% to 924,074 shares (≈$12.53M).
- The company reported EPS of ($0.25) beating estimates and revenue of $75.15M (slightly above consensus) but revenue fell 20.3% year-over-year and C3.ai remains unprofitable, while analysts' consensus rating is "Reduce" with an average price target of $21.92.
C3.ai, Inc. (NYSE:AI - Get Free Report) CEO Stephen Bradley Ehikian sold 234,918 shares of the stock in a transaction on Wednesday, December 31st. The shares were sold at an average price of $13.56, for a total value of $3,185,488.08. Following the sale, the chief executive officer directly owned 924,074 shares in the company, valued at approximately $12,530,443.44. The trade was a 20.27% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
C3.ai Trading Up 1.6%
Shares of AI stock opened at $13.70 on Friday. The company 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 200 day moving average price of $18.72. C3.ai, Inc. has a twelve month low of $12.59 and a twelve month high of $38.58.
C3.ai (NYSE:AI - Get Free Report) last issued its quarterly earnings results on Wednesday, December 3rd. The company reported ($0.25) EPS for the quarter, topping analysts' consensus estimates 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 period in the previous year, the firm posted ($0.06) earnings per share. As a group, research analysts predict that C3.ai, Inc. will post -2.44 earnings per share for the current year.
Wall Street Analyst Weigh In
A number of research analysts have weighed in on the company. Needham & Company LLC reissued a "hold" rating on shares of C3.ai in a research note on Thursday, December 4th. UBS Group upped their target price on C3.ai from $16.00 to $17.00 and gave the company a "neutral" rating in a research note on Friday, September 12th. Weiss Ratings reissued a "sell (d-)" rating on shares of C3.ai in a research note on Wednesday, October 8th. DA Davidson restated an "underperform" rating and issued a $13.00 price target on shares of C3.ai in a report on Thursday, December 4th. Finally, Canaccord Genuity Group reiterated a "hold" rating and set a $16.00 price objective on shares of C3.ai in a report on Thursday, December 4th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, seven have given a Hold rating and five have assigned a Sell rating to the stock. According to MarketBeat.com, C3.ai presently has a consensus rating of "Reduce" and an average price target of $21.92.
View Our Latest Report on C3.ai
Hedge Funds Weigh In On C3.ai
A number of large investors have recently modified their holdings of the company. CIBC Private Wealth Group LLC grew its holdings in shares of C3.ai by 22.1% during 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 during the period. CIBC Bancorp USA Inc. purchased a new stake in C3.ai during the third quarter worth approximately $227,000. Mayport LLC acquired a new stake in shares of C3.ai in the third quarter worth $191,000. XTX Topco Ltd purchased a new position in shares of C3.ai in the 3rd quarter valued at $1,702,000. Finally, Nomura Holdings Inc. raised its stake in shares of C3.ai by 36.1% in the 3rd quarter. Nomura Holdings Inc. now owns 32,943 shares of the company's stock valued at $571,000 after acquiring an additional 8,733 shares during the period. 38.96% of the stock is currently owned by hedge funds and other institutional investors.
About C3.ai
(
Get Free Report)
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.
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