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 C3.ai stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $22.25, for a total transaction of $25,209.25. Following the completion of 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Tuesday, February 25th, Merel Witteveen sold 337 shares of C3.ai stock. The shares were 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 Stock Up 1.2 %

Shares of AI opened at $22.65 on Friday. The stock’s 50-day moving average price is $28.42 and its 200 day moving average price is $29.29. The firm has a market capitalization 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 issued its earnings results on Wednesday, February 26th. The company reported ($0.62) EPS for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.37). C3.ai had a negative net margin of 79.17% and a negative return on equity of 31.31%. The firm had revenue of $98.78 million during the quarter, compared to analyst estimates of $98.12 million. Equities research analysts expect that C3.ai, Inc. will post -2.44 EPS for the current year.

Institutional Trading of C3.ai

Institutional investors have recently made changes to their positions in the business. California State Teachers Retirement System raised its position in C3.ai by 2.4% in the fourth quarter. California State Teachers Retirement System now owns 103,932 shares of the company’s stock worth $3,578,000 after purchasing an additional 2,442 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of C3.ai by 44.0% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 16,180 shares of the company’s stock worth $557,000 after buying an additional 4,941 shares in the last quarter. Probity Advisors Inc. raised its holdings in shares of C3.ai by 10.0% in the 4th quarter. Probity Advisors Inc. now owns 16,706 shares of the company’s stock worth $575,000 after buying an additional 1,514 shares in the last quarter. Total Wealth Planning & Management Inc. bought a new position in shares of C3.ai during the 4th quarter worth approximately $339,000. Finally, Mackenzie Financial Corp acquired a new stake in C3.ai in the 4th quarter valued at $229,000. 38.96% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently issued reports on AI shares. JPMorgan Chase & Co. downgraded C3.ai from a “neutral” rating to an “underweight” rating and set a $28.00 price target for the company. in a research note on Wednesday, December 11th. Morgan Stanley decreased their target price on C3.ai from $32.00 to $30.00 and set an “underweight” rating for the company in a research report on Thursday, February 27th. JMP Securities boosted their price objective on shares of C3.ai from $40.00 to $55.00 and gave the stock a “market outperform” rating in a research note on Tuesday, December 10th. KeyCorp lowered their target price on shares of C3.ai from $29.00 to $21.00 and set an “underweight” rating on the stock in a research note on Thursday, February 27th. Finally, DA Davidson dropped 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. Five analysts have rated the stock with a sell rating, five have given a hold rating, four have given a buy rating and one has given 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.