Key Points
- C3.ai CFO Hitesh Lath sold 20,000 shares at $10.00 each for $200,000 under a pre-arranged Rule 10b5-1 trading plan, reducing his holdings by 5.22% to 363,106 shares.
- C3.ai’s stock opened at $9.85, near its 50-day and 200-day moving averages, while the company reported a quarterly loss of $0.33 per share and revenue of $51.6 million, down 52.5% year over year.
- Analyst sentiment remains cautious, with one Buy, six Hold, and six Sell ratings; the consensus rating is “Reduce” with a $10.67 price target.
C3.ai, Inc. (NYSE:AI - Get Free Report) CFO Hitesh Lath sold 20,000 shares of C3.ai stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $10.00, for a total transaction of $200,000.00. Following the completion of the sale, the chief financial officer owned 363,106 shares of the company's stock, valued at $3,631,060. This trade represents a 5.22% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Hitesh Lath also recently made the following trade(s):
- On Tuesday, June 30th, Hitesh Lath sold 48,619 shares of C3.ai stock. The shares were sold at an average price of $8.77, for a total value of $426,388.63.
- 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 value of $374,599.50.
C3.ai Stock Down 0.6%
AI opened at $9.85 on Friday. C3.ai, Inc. has a 52 week low of $7.68 and a 52 week high of $23.68. The business has a fifty day simple moving average of $9.61 and a 200-day simple moving average of $9.64. The firm has a market cap of $1.53 billion, a P/E ratio of -2.95 and a beta of 2.08.
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 (EPS) for the quarter, beating the consensus estimate of ($0.38) by $0.05. C3.ai had a negative return on equity of 62.44% and a negative net margin of 187.95%.The firm had revenue of $51.60 million for the quarter, compared to the consensus estimate of $51.60 million. During the same quarter in the previous year, the business earned ($0.16) EPS. The company's quarterly revenue was down 52.5% compared to the same quarter last year. Sell-side analysts expect that C3.ai, Inc. will post -2.28 earnings per share for the current year.
Institutional Investors Weigh In On C3.ai
Several large investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in shares of C3.ai by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 14,469,953 shares of the company's stock worth $195,055,000 after buying an additional 108,011 shares in the last quarter. Morgan Stanley lifted its stake in C3.ai by 1.9% in the fourth quarter. Morgan Stanley now owns 4,824,499 shares of the company's stock worth $65,034,000 after acquiring an additional 91,802 shares during the last quarter. Bank of America Corp DE lifted its stake in C3.ai by 55.1% in the first quarter. Bank of America Corp DE now owns 3,282,183 shares of the company's stock worth $27,636,000 after acquiring an additional 1,166,302 shares during the last quarter. State Street Corp grew its holdings in C3.ai by 3.3% during the 4th quarter. State Street Corp now owns 2,976,389 shares of the company's stock worth $40,122,000 after acquiring an additional 94,086 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in C3.ai by 0.8% during the 4th quarter. Geode Capital Management LLC now owns 2,868,578 shares of the company's stock worth $38,675,000 after acquiring an additional 21,451 shares in the last quarter. Hedge funds and other institutional investors own 38.96% of the company's stock.
Analyst Ratings Changes
A number of brokerages have issued reports on AI. DA Davidson reiterated an "underperform" rating and set a $7.00 price target on shares of C3.ai in a research note on Thursday, June 4th. UBS Group raised their price objective on shares of C3.ai from $9.00 to $12.00 and gave the company a "neutral" rating in a research note on Thursday, June 4th. Weiss Ratings upgraded shares of C3.ai from a "sell (e+)" rating to a "sell (d-)" rating in a report on Tuesday. Canaccord Genuity Group upped their target price on shares of C3.ai from $8.00 to $10.00 and gave the stock a "hold" rating in a research note on Thursday, June 4th. Finally, KeyCorp reiterated an "underweight" rating on shares of C3.ai in a report on Thursday, June 4th. One equities research analyst has rated the stock with a Buy rating, six have assigned a Hold rating and six have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Reduce" and a consensus price target of $10.67.
View Our Latest Analysis on C3.ai
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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