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

C3.ai, Inc. (NYSE:AI) VP Merel Witteveen sold 1,133 shares of the company’s stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $22.25, for a total value of $25,209.25. Following the sale, the vice president now owns 7,287 shares of the company’s stock, valued at $162,135.75. This trade represents a 13.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

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 stock was sold at an average price of $34.95, for a total transaction of $389,063.40.

C3.ai Trading Up 1.2 %

Shares of NYSE AI opened at $22.65 on Friday. The company has a 50 day simple moving average of $28.42 and a two-hundred day simple moving average of $29.33. 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, Inc. has a 12 month low of $18.85 and a 12 month high of $45.08.

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

Institutional Trading of C3.ai

A number of hedge funds have recently modified their holdings of the stock. Brown Lisle Cummings Inc. grew its position in C3.ai by 100.0% during the fourth quarter. Brown Lisle Cummings Inc. now owns 800 shares of the company’s stock valued at $28,000 after buying an additional 400 shares during the period. R Squared Ltd acquired a new stake in shares of C3.ai during the 4th quarter valued at about $29,000. Russell Investments Group Ltd. increased its stake in shares of C3.ai by 100.7% in the 4th quarter. Russell Investments Group Ltd. now owns 909 shares of the company’s stock valued at $31,000 after purchasing an additional 456 shares in the last quarter. WealthTrak Capital Management LLC acquired a new position in C3.ai in the 4th quarter worth about $33,000. Finally, CENTRAL TRUST Co purchased a new position in C3.ai during the fourth quarter worth approximately $34,000. Hedge funds and other institutional investors own 38.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on AI shares. Canaccord Genuity Group lowered their target price on shares of C3.ai from $40.00 to $30.00 and set a “hold” rating for the company in a research note on Thursday, February 27th. KeyCorp dropped their target price on C3.ai from $29.00 to $21.00 and set an “underweight” rating on the stock in a research note on Thursday, February 27th. Northland Securities increased their price target on C3.ai from $35.00 to $45.00 and gave the company an “outperform” rating in a research note on Tuesday, December 10th. StockNews.com upgraded C3.ai to a “sell” rating in a research note on Tuesday, November 26th. Finally, JMP Securities increased their price objective on shares of C3.ai from $40.00 to $55.00 and gave the company a “market outperform” rating in a research report on Tuesday, December 10th. Five investment analysts have rated the stock with a sell rating, five have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $31.33.

C3.ai Company Profile

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.