C3.ai, Inc. (NYSE:AI) VP Merel Witteveen Sells 1,133 Shares

C3.ai, Inc. (NYSE:AI) VP Merel Witteveen sold 1,133 shares of the stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $22.25, for a total transaction of $25,209.25. Following the completion of the transaction, the vice president now directly owns 7,287 shares in the company, valued at $162,135.75. The trade was a 13.46 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Merel Witteveen also recently made the following trade(s):

• On Tuesday, February 25th, Merel Witteveen sold 337 shares of C3.ai stock. The stock was sold at an average price of $26.41, for a total transaction of $8,900.17.
• On Monday, December 30th, Merel Witteveen sold 11,132 shares of C3.ai stock. The shares were sold at an average price of $34.95, for a total transaction of $389,063.40.

C3.ai Trading Up 1.2 %

NYSE:AI opened at $22.65 on Monday. The company has a 50-day moving average price of $28.42 and a 200-day moving average price of $29.37. C3.ai, Inc. has a 12 month low of $18.85 and a 12 month high of $45.08. The stock has a market cap of $3.01 billion, a price-to-earnings ratio of -10.25 and a beta of 2.03.

C3.ai (NYSE:AI) last posted its earnings results on Wednesday, February 26th. The company reported ($0.62) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.37). C3.ai had a negative return on equity of 31.31% and a negative net margin of 79.17%. The company had revenue of $98.78 million during the quarter, compared to analysts’ expectations of $98.12 million. Equities analysts forecast that C3.ai, Inc. will post -2.44 EPS for the current fiscal year.

Institutional Investors Weigh In On C3.ai

Several institutional investors and hedge funds have recently modified their holdings of AI. Charles Schwab Investment Management Inc. lifted its position in C3.ai by 12.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 844,389 shares of the company’s stock valued at $20,460,000 after acquiring an additional 92,280 shares during the period. SBI Securities Co. Ltd. purchased a new position in C3.ai during the 4th quarter valued at about $3,996,000. PDT Partners LLC purchased a new position in C3.ai during the 3rd quarter valued at about $1,624,000. Janney Montgomery Scott LLC lifted its position in C3.ai by 70.9% during the 4th quarter. Janney Montgomery Scott LLC now owns 55,339 shares of the company’s stock valued at $1,905,000 after acquiring an additional 22,949 shares during the period. Finally, Strategic Financial Concepts LLC purchased a new position in C3.ai during the 4th quarter valued at about $2,015,000. 38.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AI has been the topic of several recent research reports. Canaccord Genuity Group reduced their target price on shares of C3.ai from $40.00 to $30.00 and set a “hold” rating on the stock in a report on Thursday, February 27th. KeyCorp reduced their target price on shares of C3.ai from $29.00 to $21.00 and set an “underweight” rating on the stock in a report on Thursday, February 27th. Piper Sandler reduced their target price on shares of C3.ai from $42.00 to $28.00 and set a “neutral” rating on the stock in a report on Thursday, February 27th. DA Davidson reduced their target price on shares of C3.ai from $40.00 to $25.00 and set a “neutral” rating on the stock in a report on Thursday, February 27th. Finally, Needham & Company LLC reissued a “hold” rating on shares of C3.ai in a research report on Thursday, February 27th. Five equities research analysts have rated the stock with a sell rating, five have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $31.33.

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.