C3.ai, Inc. (NYSE:AI) CFO Hitesh Lath Sells 3,005 Shares of Stock

C3.ai, Inc. (NYSE:AI) CFO Hitesh Lath sold 3,005 shares of the stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $27.56, for a total transaction of $82,817.80. Following the transaction, the chief financial officer now owns 7,390 shares in the company, valued at approximately $203,668.40. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

C3.ai Stock Up 1.4 %

NYSE AI opened at $28.96 on Friday. The company has a market capitalization of $3.53 billion, a price-to-earnings ratio of -12.38 and a beta of 1.85. C3.ai, Inc. has a twelve month low of $20.23 and a twelve month high of $44.90. The stock has a fifty day simple moving average of $26.41 and a 200 day simple moving average of $27.16.

C3.ai (NYSE:AI) last issued its quarterly earnings data on Wednesday, May 29th. The company reported ($0.59) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.77) by $0.18. C3.ai had a negative return on equity of 30.95% and a negative net margin of 93.36%. The company had revenue of $86.59 million during the quarter, compared to the consensus estimate of $84.45 million. Research analysts expect that C3.ai, Inc. will post -2.35 earnings per share for the current fiscal year.

Hedge Funds Weigh In On C3.ai

A number of hedge funds have recently bought and sold shares of the company. DekaBank Deutsche Girozentrale bought a new position in shares of C3.ai during the 3rd quarter worth approximately $25,000. Orion Capital Management LLC acquired a new stake in shares of C3.ai in the 3rd quarter valued at about $26,000. Toth Financial Advisory Corp grew its holdings in C3.ai by 900.0% during the first quarter. Toth Financial Advisory Corp now owns 1,000 shares of the company’s stock worth $27,000 after buying an additional 900 shares in the last quarter. ICA Group Wealth Management LLC bought a new position in C3.ai during the 4th quarter valued at $29,000. Finally, Comerica Bank boosted its holdings in C3.ai by 305.1% during the 1st quarter. Comerica Bank now owns 1,203 shares of the company’s stock worth $33,000 after acquiring an additional 906 shares during the last quarter. Institutional investors own 38.96% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Wedbush restated an “outperform” rating and set a $40.00 price objective on shares of C3.ai in a research note on Wednesday, May 29th. Needham & Company LLC reiterated a “hold” rating on shares of C3.ai in a research report on Thursday, May 30th. Canaccord Genuity Group cut their target price on C3.ai from $31.00 to $30.00 and set a “hold” rating for the company in a research note on Thursday, May 30th. Northland Securities raised C3.ai from a “market perform” rating to an “outperform” rating and set a $35.00 price objective on the stock in a research note on Thursday, May 30th. Finally, Morgan Stanley boosted their target price on C3.ai from $21.00 to $23.00 and gave the stock an “underweight” rating in a research note on Thursday, May 30th. Three analysts have rated the stock with a sell rating, five have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $31.30.

About C3.ai

C3.ai, Inc operates as an enterprise artificial intelligence (AI) software company in North America, Europe, the Middle East, Africa, the Asia Pacific, and internationally. The company provides C3 AI platform, an application development and runtime environment that enables customers to design, develop, and deploy enterprise AI applications; C3 AI Ex Machina for analysis-ready data; C3 AI CRM, an industry specific customer relationship management solution; and C3 Generative AI Product Suite that enables to locate, retrieve, and present information.