C3.ai, Inc. (NYSE:AI) insider Houman Behzadi sold 70,000 shares of the stock in a transaction dated Tuesday, June 8th. The stock was sold at an average price of $63.56, for a total value of $4,449,200.00. Following the sale, the insider now directly owns 301,108 shares in the company, valued at $19,138,424.48. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.
C3.ai stock traded down $4.02 during midday trading on Thursday, reaching $58.08. The company had a trading volume of 8,197,678 shares, compared to its average volume of 3,942,974. The company has a market capitalization of $5.86 billion and a P/E ratio of -65.13. C3.ai, Inc. has a 12-month low of $47.22 and a 12-month high of $183.90. The business has a fifty day moving average of $62.67.
C3.ai (NYSE:AI) last issued its quarterly earnings results on Tuesday, June 1st. The company reported ($0.24) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.29) by $0.05. The company had revenue of $52.28 million during the quarter, compared to analysts’ expectations of $50.60 million. The firm’s revenue was up 25.6% on a year-over-year basis. Equities research analysts anticipate that C3.ai, Inc. will post -1.12 earnings per share for the current year.
AI has been the topic of several analyst reports. Needham & Company LLC cut their price target on C3.ai from $195.00 to $146.00 and set a “buy” rating on the stock in a research report on Thursday, June 3rd. They noted that the move was a valuation call. Morgan Stanley increased their price target on C3.ai from $60.00 to $62.00 and gave the stock an “underweight” rating in a research report on Thursday, June 3rd. Deutsche Bank Aktiengesellschaft dropped their target price on C3.ai from $98.00 to $63.00 and set a “hold” rating on the stock in a research report on Thursday, June 3rd. 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 research report on Thursday, June 3rd. They noted that the move was a valuation call. Finally, Wedbush dropped their target price on C3.ai from $175.00 to $100.00 and set an “outperform” rating on the stock in a research report on Thursday, June 3rd. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company’s stock. C3.ai has an average rating of “Hold” and a consensus price target of $107.22.
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.
Recommended Story: What are gap-up stocks?
Receive News & Ratings for C3.ai Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for C3.ai and related companies with MarketBeat.com's FREE daily email newsletter.