Key Points
- CEO Thomas Siebel sold 282,001 C3.ai shares at an average price of $10.90, generating approximately $3.07 million. The Rule 10b5-1 transaction reduced his direct ownership by 28.08% to 722,362 shares.
- C3.ai reported quarterly revenue of $52.38 million and an adjusted loss of $0.20 per share, beating analysts’ estimates, although revenue declined 25.4% year over year and the company remained deeply unprofitable.
- Analyst sentiment remains negative, with a consensus “Reduce” rating and an $8.70 price target versus the stock’s recent price near $10.78. Hedge funds and institutional investors collectively own 38.96% of the company.
C3.ai, Inc. (NYSE:AI - Get Free Report) CFO Hitesh Lath sold 21,077 shares of the stock in a transaction dated Wednesday, September 16th. The stock was sold at an average price of $10.48, for a total transaction of $220,886.96. Following the sale, the chief financial officer owned 371,036 shares in the company, valued at $3,888,457.28. The trade was a 5.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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, August 4th, Hitesh Lath sold 20,000 shares of C3.ai stock. The shares were sold at an average price of $10.00, for a total transaction of $200,000.00.
- 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 transaction of $426,388.63.
C3.ai Trading Up 2.0%
Shares of C3.ai stock opened at $10.78 on Friday. The company has a market cap of $1.67 billion, a PE ratio of -3.50 and a beta of 2.10. The company has a 50 day moving average of $9.83 and a 200-day moving average of $9.47. C3.ai, Inc. has a 1-year low of $7.68 and a 1-year high of $20.22.
C3.ai (NYSE:AI - Get Free Report) last announced its quarterly earnings data on Wednesday, September 2nd. The company reported ($0.20) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.26) by $0.06. C3.ai had a negative net margin of 192.10% and a negative return on equity of 61.25%. The business had revenue of $52.38 million for the quarter, compared to analysts' expectations of $52.06 million. During the same period last year, the firm posted ($0.37) earnings per share. The firm's quarterly revenue was down 25.4% compared to the same quarter last year. Research analysts forecast that C3.ai, Inc. will post -2.22 earnings per share for the current year.
Analysts Set New Price Targets
AI has been the subject of several recent analyst reports. DA Davidson restated an "underperform" rating and set a $7.00 price objective on shares of C3.ai in a research report on Tuesday, September 1st. UBS Group reiterated an "underperform" rating on shares of C3.ai in a research report on Tuesday, September 1st. Canaccord Genuity Group reissued a "hold" rating and set a $10.00 target price on shares of C3.ai in a research note on Thursday, September 3rd. Citigroup reissued a "market perform" rating on shares of C3.ai in a report on Thursday, September 3rd. Finally, Citizens Jmp restated a "market perform" rating on shares of C3.ai in a research note on Thursday, September 3rd. One analyst has rated the stock with a Buy rating, four have issued a Hold rating and seven have issued a Sell rating to the company. According to data from MarketBeat, C3.ai presently has an average rating of "Reduce" and an average price target of $8.70.
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Institutional Investors Weigh In On C3.ai
Institutional investors and hedge funds have recently made changes to their positions in the business. Bank of America Corp DE increased its holdings 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 purchasing an additional 1,166,302 shares in the last quarter. First Trust Advisors LP increased its stake in shares of C3.ai by 67.3% in the 1st quarter. First Trust Advisors LP now owns 1,215,341 shares of the company's stock valued at $10,233,000 after acquiring an additional 488,710 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of C3.ai by 0.8% during the 1st quarter. Bank of New York Mellon Corp now owns 690,694 shares of the company's stock valued at $5,816,000 after acquiring an additional 5,631 shares during the period. Edgestream Partners L.P. lifted its position in shares of C3.ai by 247.5% during the 1st quarter. Edgestream Partners L.P. now owns 658,573 shares of the company's stock valued at $5,545,000 after acquiring an additional 469,057 shares during the period. Finally, EVR Research LP boosted its stake in C3.ai by 223.8% during the fourth quarter. EVR Research LP now owns 600,400 shares of the company's stock worth $8,093,000 after acquiring an additional 415,000 shares in the last quarter. Institutional investors own 38.96% of the company's stock.
About C3.ai
(
Get Free Report)
C3.ai, Inc develops enterprise artificial intelligence software and applications for organizations in a range of industries. Its technology is designed to help businesses use data, machine learning and predictive analytics to address operational, financial and strategic challenges.
The company's offerings include the C3 AI Platform, which provides tools for developing, deploying and operating AI applications, as well as prebuilt applications for use cases such as predictive maintenance, fraud detection, supply-chain optimization, customer engagement, energy management and regulatory compliance.
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