Hitesh Lath Sells 21,077 Shares of C3.ai (NYSE:AI) Stock

C3.ai, Inc. (NYSE:AI) CFO Hitesh Lath sold 21,077 shares of C3.ai stock in a transaction that occurred on Wednesday, September 16th. The shares were sold at an average price of $10.48, for a total value of $220,886.96. Following the sale, the chief financial officer directly owned 371,036 shares in the company, valued at approximately $3,888,457.28. This trade represents a 5.38% decrease in their position. The transaction was disclosed in a legal filing with the SEC, 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 stock was sold at an average price of $10.00, for a total value 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 value of $426,388.63.

C3.ai Price Performance

Shares of C3.ai stock opened at $10.49 on Friday. C3.ai, Inc. has a 1-year low of $7.68 and a 1-year high of $20.22. The business’s fifty day moving average price is $9.86 and its two-hundred day moving average price is $9.48. The company has a market capitalization of $1.63 billion, a P/E ratio of -3.41 and a beta of 2.10.

C3.ai (NYSE:AI) last released its quarterly earnings results on Wednesday, September 2nd. The company reported ($0.20) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.26) by $0.06. The company had revenue of $52.38 million during the quarter, compared to analysts’ expectations of $52.06 million. C3.ai had a negative return on equity of 61.25% and a negative net margin of 192.10%.The company’s revenue for the quarter was down 25.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.37) earnings per share. On average, research analysts expect that C3.ai, Inc. will post -2.22 earnings per share for the current fiscal year.

Institutional Trading of C3.ai

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Western Wealth Management LLC acquired a new position in shares of C3.ai in the first quarter worth about $26,000. AdvisorNet Financial Inc acquired a new stake in shares of C3.ai during the first quarter valued at approximately $34,000. Eurizon Capital SGR S.p.A. purchased a new stake in shares of C3.ai in the 4th quarter valued at approximately $71,000. CoreCap Advisors LLC lifted its position in shares of C3.ai by 34.0% in the 2nd quarter. CoreCap Advisors LLC now owns 6,145 shares of the company’s stock valued at $56,000 after acquiring an additional 1,560 shares in the last quarter. Finally, Versant Capital Management Inc boosted its stake in C3.ai by 1,510.1% in the 2nd quarter. Versant Capital Management Inc now owns 6,859 shares of the company’s stock worth $62,000 after purchasing an additional 6,433 shares during the period. Institutional investors and hedge funds own 38.96% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Citigroup reaffirmed a “market perform” rating on shares of C3.ai in a research note on Thursday, September 3rd. Wall Street Zen raised C3.ai from a “sell” rating to a “hold” rating in a report on Sunday, September 13th. Citizens Jmp restated a “market perform” rating on shares of C3.ai in a research report on Thursday, September 3rd. Morgan Stanley increased their price target on C3.ai from $6.00 to $7.00 and gave the company an “underweight” rating in a research note on Thursday, June 4th. Finally, Wedbush reiterated an “outperform” rating and set a $15.00 price target on shares of C3.ai in a research report on Thursday, June 4th. One analyst has rated the stock with a Buy rating, four have issued a Hold rating and seven have given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Reduce” and a consensus target price of $8.70.

About C3.ai

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.