Key Points
- CFO Hitesh Lath sold 15,248 shares at an average price of $8.98 for proceeds of $136,927.04, trimming his stake by 6.01% to 238,308 shares (worth about $2.14M).
- C3.ai missed Q4 expectations with EPS of ($0.40) vs. ($0.29) expected and revenue down 46.1% to $53.26M, and analysts have cut targets leaving a consensus "Reduce" rating and an average price target of $15.87.
C3.ai, Inc. (NYSE:AI - Get Free Report) CFO Hitesh Lath sold 15,248 shares of the stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $8.98, for a total value of $136,927.04. Following the completion of the transaction, the chief financial officer owned 238,308 shares of the company's stock, valued at $2,140,005.84. The trade was a 6.01% 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 Stock Up 0.2%
AI stock opened at $8.82 on Wednesday. The business has a fifty day moving average of $11.06 and a two-hundred day moving average of $14.30. The stock has a market cap of $1.24 billion, a price-to-earnings ratio of -2.80 and a beta of 2.05. C3.ai, Inc. has a 52-week low of $7.72 and a 52-week high of $30.24.
C3.ai (NYSE:AI - Get Free Report) last posted its earnings results on Wednesday, February 25th. The company reported ($0.40) EPS for the quarter, missing analysts' consensus estimates of ($0.29) by ($0.11). C3.ai had a negative net margin of 141.35% and a negative return on equity of 55.40%. The business had revenue of $53.26 million during the quarter, compared to analysts' expectations of $75.91 million. During the same quarter in the prior year, the firm earned ($0.12) EPS. C3.ai's revenue for the quarter was down 46.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that C3.ai, Inc. will post -2.44 EPS for the current year.
Analyst Ratings Changes
A number of research analysts have commented on the stock. Canaccord Genuity Group decreased their target price on shares of C3.ai from $16.00 to $7.00 and set a "hold" rating on the stock in a research report on Thursday, February 26th. Bank of America set a $10.00 price target on shares of C3.ai in a research note on Friday, January 30th. KeyCorp decreased their price objective on shares of C3.ai from $10.00 to $6.00 and set an "underweight" rating on the stock in a report on Thursday, February 26th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of C3.ai in a research report on Wednesday, January 21st. Finally, JPMorgan Chase & Co. dropped their target price on shares of C3.ai from $10.00 to $7.00 and set an "underweight" rating for the company in a report on Thursday, February 26th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, seven have assigned a Hold rating and six have given a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Reduce" and an average target price of $15.87.
Check Out Our Latest Stock Report on C3.ai
Institutional Trading of C3.ai
A number of institutional investors and hedge funds have recently bought and sold shares of AI. Rockefeller Capital Management L.P. boosted its stake in shares of C3.ai by 11.7% in the fourth quarter. Rockefeller Capital Management L.P. now owns 50,771 shares of the company's stock valued at $684,000 after purchasing an additional 5,320 shares during the period. Hsbc Holdings PLC increased its stake in C3.ai by 200.2% during the 4th quarter. Hsbc Holdings PLC now owns 109,875 shares of the company's stock worth $1,482,000 after buying an additional 73,276 shares during the period. Alpine Global Management LLC acquired a new stake in C3.ai during the 4th quarter worth approximately $206,000. Virtu Financial LLC purchased a new position in C3.ai in the 4th quarter valued at approximately $871,000. Finally, Invesco Ltd. boosted its position in C3.ai by 29.5% in the 4th quarter. Invesco Ltd. now owns 452,653 shares of the company's stock valued at $6,102,000 after buying an additional 103,058 shares during the period. 38.96% of the stock is currently owned by hedge funds and other institutional investors.
C3.ai Company Profile
(
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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