Stephen Bradley Ehikian Sells 50,542 Shares of C3.ai (NYSE:AI) Stock

C3.ai, Inc. (NYSE:AI) CEO Stephen Bradley Ehikian sold 50,542 shares of the stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $9.45, for a total value of $477,621.90. Following the transaction, the chief executive officer directly owned 651,130 shares in the company, valued at approximately $6,153,178.50. This represents a 7.20% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

C3.ai Price Performance

AI traded down $0.36 on Thursday, hitting $9.07. The company had a trading volume of 4,617,621 shares, compared to its average volume of 6,465,152. The company’s fifty day moving average price is $9.69 and its 200 day moving average price is $10.55. C3.ai, Inc. has a 1-year low of $7.68 and a 1-year high of $30.11. The stock has a market cap of $1.32 billion, a price-to-earnings ratio of -2.71 and a beta of 2.06.

C3.ai (NYSE:AI) last announced its earnings results on Wednesday, June 3rd. The company reported ($0.33) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $51.60 million. During the same quarter in the prior year, the business earned ($0.16) earnings per share. The company’s revenue was down 52.5% on a year-over-year basis. On average, sell-side analysts forecast that C3.ai, Inc. will post -2.28 EPS for the current year.

Institutional Investors Weigh In On C3.ai

Hedge funds and other institutional investors have recently modified their holdings of the stock. Larson Financial Group LLC increased its position in C3.ai by 683.6% during the third quarter. Larson Financial Group LLC now owns 1,481 shares of the company’s stock worth $26,000 after acquiring an additional 1,292 shares during the period. Parallel Advisors LLC boosted its holdings in C3.ai by 76.4% in the 3rd quarter. Parallel Advisors LLC now owns 1,849 shares of the company’s stock valued at $32,000 after purchasing an additional 801 shares during the period. Farther Finance Advisors LLC grew its position in C3.ai by 66.1% in the 4th quarter. Farther Finance Advisors LLC now owns 2,141 shares of the company’s stock worth $29,000 after purchasing an additional 852 shares during the last quarter. Comerica Bank grew its position in C3.ai by 839.1% in the 4th quarter. Comerica Bank now owns 2,423 shares of the company’s stock worth $33,000 after purchasing an additional 2,165 shares during the last quarter. Finally, NewEdge Advisors LLC grew its position in C3.ai by 48.7% in the 1st quarter. NewEdge Advisors LLC now owns 2,442 shares of the company’s stock worth $51,000 after purchasing an additional 800 shares during the last quarter. Institutional investors and hedge funds own 38.96% of the company’s stock.

Analysts Set New Price Targets

AI has been the topic of a number of research analyst reports. Wedbush reiterated an “outperform” rating and issued a $15.00 target price on shares of C3.ai in a research note on Thursday, June 4th. UBS Group boosted their target price on shares of C3.ai from $9.00 to $12.00 and gave the stock a “neutral” rating in a research report on Thursday, June 4th. Citizens Jmp restated a “market perform” rating on shares of C3.ai in a report on Thursday, June 4th. Weiss Ratings downgraded C3.ai from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, June 16th. Finally, Morgan Stanley lifted their price objective on C3.ai from $6.00 to $7.00 and gave the stock an “underweight” rating in a research note on Thursday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, six have given a Hold rating and six have given a Sell rating to the company. Based on data from MarketBeat, C3.ai has an average rating of “Reduce” and an average target price of $12.92.

About C3.ai

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.