C3.ai, Inc. (NYSE:AI) Director Patricia A. House Sells 100,000 Shares

C3.ai, Inc. (NYSE:AI) Director Patricia A. House sold 100,000 shares of the firm’s stock in a transaction that occurred on Friday, September 10th. The shares were sold at an average price of $50.66, for a total value of $5,066,000.00. Following the completion of the transaction, the director now owns 10,292 shares in the company, valued at approximately $521,392.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Shares of AI opened at $49.84 on Friday. The firm has a market cap of $5.15 billion and a PE ratio of -55.38. The stock’s fifty day moving average price is $50.53 and its two-hundred day moving average price is $61.07. C3.ai, Inc. has a 1 year low of $44.35 and a 1 year high of $183.90.

C3.ai (NYSE:AI) last issued its earnings results on Tuesday, August 31st. The company reported ($0.37) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.28) by ($0.09). The business had revenue of $52.41 million during the quarter, compared to analysts’ expectations of $51.27 million. The business’s revenue for the quarter was up 29.5% compared to the same quarter last year. On average, equities analysts forecast that C3.ai, Inc. will post -1.53 EPS for the current year.

A number of research analysts have recently weighed in on the company. Canaccord Genuity dropped their target price on C3.ai from $120.00 to $75.00 and set a “hold” rating on the stock in a report on Thursday, June 3rd. They noted that the move was a valuation call. Wedbush dropped their price target on C3.ai from $100.00 to $70.00 and set an “outperform” rating on the stock in a report on Thursday, September 2nd. Piper Sandler dropped their price target on C3.ai from $98.00 to $78.00 and set an “overweight” rating on the stock in a report on Thursday, September 2nd. Needham & Company LLC dropped their price target on C3.ai from $146.00 to $122.00 and set a “buy” rating on the stock in a report on Thursday, September 2nd. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on C3.ai from $63.00 to $50.00 and set a “hold” rating on the stock in a report on Friday, September 3rd. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $87.78.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Allianz Asset Management GmbH grew its position in shares of C3.ai by 270.1% in the second quarter. Allianz Asset Management GmbH now owns 3,968,698 shares of the company’s stock valued at $248,162,000 after purchasing an additional 2,896,310 shares in the last quarter. Vanguard Group Inc. grew its position in shares of C3.ai by 57.4% in the second quarter. Vanguard Group Inc. now owns 2,462,211 shares of the company’s stock valued at $153,962,000 after purchasing an additional 898,128 shares in the last quarter. Spring Creek Capital LLC purchased a new position in shares of C3.ai in the first quarter valued at $156,929,000. Morgan Stanley grew its position in shares of C3.ai by 349.8% in the first quarter. Morgan Stanley now owns 1,196,102 shares of the company’s stock valued at $78,835,000 after purchasing an additional 930,171 shares in the last quarter. Finally, Coatue Management LLC purchased a new position in shares of C3.ai in the first quarter valued at $58,829,000. Institutional investors own 40.45% of the company’s stock.

About C3.ai

C3.ai, Inc operates as an enterprise artificial intelligence (AI) software company. The company provides software-as-a-service applications for enterprises. Its software solutions include C3 AI Suite, a platform-as-a-service application development and runtime environment that enables customers to design, develop, and deploy enterprise AI applications; and C3 AI Applications, which include industry-specific and application-specific turnkey AI solutions.

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