Key Points
- CFO Hitesh Lath sold 34,210 shares of C3.ai at an average price of $10.95, for total proceeds of about $374,600. The filing said the sale was to cover tax withholding tied to vesting equity awards.
- After the transaction, Lath still held 233,106 shares valued at roughly $2.55 million, representing a 12.8% reduction in his ownership stake.
- C3.ai recently beat quarterly EPS estimates, but revenue fell 52.5% year over year, and analysts currently hold a consensus rating of “Reduce” with an average price target of $12.92.
C3.ai, Inc. (NYSE:AI - Get Free Report) CFO Hitesh Lath sold 34,210 shares of the firm's stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $10.95, for a total transaction of $374,599.50. Following the transaction, the chief financial officer directly owned 233,106 shares in the company, valued at $2,552,510.70. The trade was a 12.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
C3.ai Stock Performance
Shares of C3.ai stock opened at $10.27 on Thursday. C3.ai, Inc. has a 1 year low of $7.68 and a 1 year high of $30.11. The company has a market capitalization of $1.49 billion, a P/E ratio of -3.07 and a beta of 2.04. The company's fifty day moving average is $9.58 and its two-hundred day moving average is $10.95.
C3.ai (NYSE:AI - Get Free Report) last issued its quarterly earnings data on Wednesday, June 3rd. The company reported ($0.33) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.38) by $0.05. C3.ai had a negative net margin of 187.95% and a negative return on equity of 60.20%. The company had revenue of $51.60 million for the quarter, compared to the consensus estimate of $51.60 million. During the same period last year, the firm posted ($0.16) EPS. C3.ai's revenue for the quarter was down 52.5% on a year-over-year basis. As a group, equities analysts expect that C3.ai, Inc. will post -2.26 earnings per share for the current year.
Key Stories Impacting C3.ai
Here are the key news stories impacting C3.ai this week:
- Positive Sentiment: Recent market commentary says C3.ai has benefited from a broad AI rally tied to lower Treasury yields and easing geopolitical risk, which can support higher valuations for enterprise software names like AI. C3.ai (AI) Stock Could Be 45% Overvalued After Peace Deal Rally
- Neutral Sentiment: Broader industry articles continue to highlight strong AI adoption across sectors, reinforcing the long-term demand story for AI software, but these stories do not directly change C3.ai’s near-term fundamentals.
- Negative Sentiment: Investor attention is also on recent insider selling by CEO Thomas Siebel, including a larger share sale disclosed this week. Although the company said the transactions were tied to a 10b5-1 plan and tax withholding, insider sales can still weigh on sentiment. C3.ai (NYSE:AI) CEO Thomas Siebel Sells 23,570 Shares
- Negative Sentiment: Some analysis also argues the stock may be meaningfully overvalued after its recent rebound, which could prompt traders to take profits. C3.ai (AI) Stock Could Be 45% Overvalued After Peace Deal Rally
Hedge Funds Weigh In On C3.ai
A number of large investors have recently made changes to their positions in the stock. Quantbot Technologies LP increased its holdings in C3.ai by 2,831.4% during the 3rd quarter. Quantbot Technologies LP now owns 554,472 shares of the company's stock valued at $9,615,000 after acquiring an additional 535,557 shares in the last quarter. Vanguard Group Inc. increased its holdings in C3.ai by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 14,469,953 shares of the company's stock valued at $195,055,000 after acquiring an additional 108,011 shares in the last quarter. Clare Market Investments LLC purchased a new position in C3.ai during the 3rd quarter valued at about $2,207,000. SG Americas Securities LLC increased its holdings in C3.ai by 115.0% during the 4th quarter. SG Americas Securities LLC now owns 384,486 shares of the company's stock valued at $5,183,000 after acquiring an additional 205,640 shares in the last quarter. Finally, Neo Ivy Capital Management purchased a new position in C3.ai during the 3rd quarter valued at about $2,010,000. Hedge funds and other institutional investors own 38.96% of the company's stock.
Analyst Ratings Changes
Several analysts have recently commented on AI shares. Wolfe Research restated an "underperform" rating and issued a $6.00 target price on shares of C3.ai in a research note on Thursday, February 26th. DA Davidson restated an "underperform" rating and issued a $7.00 target price on shares of C3.ai in a research note on Thursday, June 4th. Canaccord Genuity Group increased their price target on shares of C3.ai from $8.00 to $10.00 and gave the company a "hold" rating in a report on Thursday, June 4th. BMO Capital Markets set a $7.00 price target on shares of C3.ai in a report on Thursday, February 26th. Finally, Weiss Ratings downgraded shares of C3.ai from a "sell (d-)" rating to a "sell (e+)" rating in a report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, six have given a Hold rating and six have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Reduce" and an average target price of $12.92.
Check Out Our Latest Analysis on AI
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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