Key Points
- C3.ai CFO Hitesh Lath sold 48,619 shares on June 30 at an average price of $8.77, totaling $426,388.63. The sale was disclosed in an SEC filing and was made under a pre-arranged Rule 10b5-1 plan to cover tax withholding tied to vesting equity awards.
- After the transaction, Lath still held 383,106 shares valued at about $3.36 million, though his ownership stake fell by 11.26%. The article also notes he sold 34,210 shares on June 16 for $374,599.50.
- C3.ai shares were trading at $9.44, near their 50-day and 200-day moving averages, as the company continues to post weak fundamentals despite a recent earnings beat. Analysts currently have an average rating of “Reduce” with an average price target of $12.92.
C3.ai, Inc. (NYSE:AI - Get Free Report) CFO Hitesh Lath sold 48,619 shares of the firm's stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $8.77, for a total transaction of $426,388.63. Following the completion of the transaction, the chief financial officer directly owned 383,106 shares of the company's stock, valued at $3,359,839.62. This represents a 11.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Hitesh Lath also recently made the following trade(s):
- On Tuesday, June 16th, Hitesh Lath sold 34,210 shares of C3.ai stock. The stock was sold at an average price of $10.95, for a total transaction of $374,599.50.
C3.ai Price Performance
Shares of AI stock opened at $9.44 on Thursday. The company has a fifty day moving average price of $9.69 and a two-hundred day moving average price of $10.55. C3.ai, Inc. has a one year low of $7.68 and a one year high of $30.11. The stock has a market cap of $1.37 billion, a P/E ratio of -2.82 and a beta of 2.06.
C3.ai (NYSE:AI - Get Free Report) last released its quarterly earnings data on Wednesday, June 3rd. The company reported ($0.33) earnings per share for the quarter, topping the consensus estimate of ($0.38) by $0.05. The company had revenue of $51.60 million for the quarter, compared to analyst estimates of $51.60 million. C3.ai had a negative net margin of 187.95% and a negative return on equity of 62.44%. C3.ai's revenue for the quarter was down 52.5% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.16) EPS. As a group, equities research analysts anticipate that C3.ai, Inc. will post -2.28 EPS for the current fiscal year.
Institutional Investors Weigh In On C3.ai
Institutional investors have recently made changes to their positions in the company. NewEdge Advisors LLC grew its position in shares of C3.ai by 48.7% in the first quarter. NewEdge Advisors LLC now owns 2,442 shares of the company's stock valued at $51,000 after purchasing an additional 800 shares during the last quarter. Parallel Advisors LLC grew its holdings in C3.ai by 76.4% in the 3rd quarter. Parallel Advisors LLC now owns 1,849 shares of the company's stock valued at $32,000 after buying an additional 801 shares in the last quarter. BOKF NA grew its holdings in C3.ai by 20.7% in the 3rd quarter. BOKF NA now owns 4,709 shares of the company's stock valued at $82,000 after buying an additional 809 shares in the last quarter. Farther Finance Advisors LLC increased its position in C3.ai by 66.1% during the 4th quarter. Farther Finance Advisors LLC now owns 2,141 shares of the company's stock worth $29,000 after buying an additional 852 shares during the period. Finally, Clearstead Advisors LLC increased its position in C3.ai by 58.0% during the 3rd quarter. Clearstead Advisors LLC now owns 2,350 shares of the company's stock worth $41,000 after buying an additional 863 shares during the period. Institutional investors own 38.96% of the company's stock.
Wall Street Analysts Forecast Growth
Several research firms have issued reports on AI. Wedbush restated an "outperform" rating and issued a $15.00 price objective on shares of C3.ai in a research note on Thursday, June 4th. Needham & Company LLC reissued a "hold" rating on shares of C3.ai in a report on Thursday, June 4th. UBS Group increased their price target on C3.ai from $9.00 to $12.00 and gave the company a "neutral" rating in a research note on Thursday, June 4th. DA Davidson reaffirmed an "underperform" rating and set a $7.00 price target on shares of C3.ai in a report on Thursday, June 4th. Finally, KeyCorp reaffirmed an "underweight" rating on shares of C3.ai in a research report on Thursday, June 4th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, six have issued a Hold rating and six have issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Reduce" and an average price target of $12.92.
View Our Latest Stock Analysis on C3.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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