Key Points
- C3.ai CEO Stephen Bradley Ehikian sold 50,542 shares on July 1 at an average price of $9.45, totaling about $477,622. The sale was disclosed in an SEC filing and was made to cover tax withholding obligations tied to vesting equity awards.
- After the transaction, Ehikian still owned 651,130 shares valued at roughly $6.15 million, representing a 7.2% reduction in his position.
- C3.ai recently reported mixed quarterly results: earnings per share beat estimates, but revenue fell 52.5% year over year and analysts remain cautious, with a consensus rating of “Reduce” and an average price target of $12.92.
C3.ai, Inc. (NYSE:AI - Get Free Report) CEO Stephen Bradley Ehikian sold 50,542 shares of the stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $9.45, for a total value of $477,621.90. Following the transaction, the chief executive officer owned 651,130 shares in the company, valued at $6,153,178.50. This trade represents a 7.20% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
C3.ai Stock Performance
C3.ai stock opened at $9.07 on Friday. The stock has a market capitalization of $1.32 billion, a P/E ratio of -2.71 and a beta of 2.06. The company's fifty day moving average price is $9.69 and its 200 day moving average price is $10.51. C3.ai, Inc. has a 1 year low of $7.68 and a 1 year high of $30.11.
C3.ai (NYSE:AI - Get Free Report) last posted its quarterly earnings data on Wednesday, June 3rd. The company reported ($0.33) earnings per share for the quarter, topping analysts' consensus estimates of ($0.38) by $0.05. The company had revenue of $51.60 million during the quarter, compared to analysts' expectations of $51.60 million. C3.ai had a negative net margin of 187.95% and a negative return on equity of 62.44%. The firm's revenue for the quarter was down 52.5% on a year-over-year basis. During the same period in the prior year, the business posted ($0.16) earnings per share. Sell-side analysts predict that C3.ai, Inc. will post -2.28 EPS for the current year.
Hedge Funds Weigh In On C3.ai
A number of institutional investors and hedge funds have recently added to or reduced their stakes in AI. Western Wealth Management LLC acquired a new stake in shares of C3.ai in the 1st quarter worth $26,000. Larson Financial Group LLC grew its holdings in shares of 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 purchasing an additional 1,292 shares during the period. Farther Finance Advisors LLC increased its position in C3.ai by 66.1% during the fourth quarter. Farther Finance Advisors LLC now owns 2,141 shares of the company's stock worth $29,000 after purchasing an additional 852 shares during the last quarter. Parallel Advisors LLC increased its position in C3.ai by 76.4% during the third quarter. Parallel Advisors LLC now owns 1,849 shares of the company's stock worth $32,000 after purchasing an additional 801 shares during the last quarter. Finally, Comerica Bank raised its stake in C3.ai by 839.1% during the fourth quarter. Comerica Bank now owns 2,423 shares of the company's stock worth $33,000 after purchasing an additional 2,165 shares during the period. Institutional investors and hedge funds own 38.96% of the company's stock.
Analyst Ratings Changes
A number of research analysts recently weighed in on the stock. DA Davidson reaffirmed an "underperform" rating and issued a $7.00 price target on shares of C3.ai in a research note on Thursday, June 4th. Morgan Stanley boosted their price objective on C3.ai from $6.00 to $7.00 and gave the stock an "underweight" rating in a research note on Thursday, June 4th. Wedbush reissued an "outperform" rating and set a $15.00 target price on shares of C3.ai in a report on Thursday, June 4th. Canaccord Genuity Group raised their target price on C3.ai from $8.00 to $10.00 and gave the company a "hold" rating in a research report on Thursday, June 4th. Finally, KeyCorp reaffirmed an "underweight" rating on shares of C3.ai in a research note on Thursday, June 4th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, six have assigned a Hold rating and six have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Reduce" and a consensus price target of $12.92.
Check Out Our Latest Report 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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