Insider Selling: C3.ai, Inc. (NYSE:AI) Major Shareholder Sells 709,475 Shares of Stock

C3.ai, Inc. (NYSE:AI) major shareholder Group Holdings (Sbs) Advis Tpg sold 709,475 shares of the business’s stock in a transaction that occurred on Wednesday, June 9th. The shares were sold at an average price of $64.85, for a total transaction of $46,009,453.75. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Group Holdings (Sbs) Advis Tpg also recently made the following trade(s):

  • On Monday, June 7th, Group Holdings (Sbs) Advis Tpg sold 2,500,000 shares of C3.ai stock. The stock was sold at an average price of $62.67, for a total transaction of $156,675,000.00.
  • On Monday, March 22nd, Group Holdings (Sbs) Advis Tpg sold 600,000 shares of C3.ai stock. The stock was sold at an average price of $76.06, for a total transaction of $45,636,000.00.
  • On Monday, March 15th, Group Holdings (Sbs) Advis Tpg sold 1,129,156 shares of C3.ai stock. The shares were sold at an average price of $87.54, for a total transaction of $98,846,316.24.

Shares of AI opened at $58.08 on Friday. The stock has a fifty day simple moving average of $62.46. C3.ai, Inc. has a fifty-two week low of $47.22 and a fifty-two week high of $183.90. The company has a market capitalization of $5.86 billion and a PE ratio of -64.53.

C3.ai (NYSE:AI) last issued its quarterly earnings data on Tuesday, June 1st. The company reported ($0.24) EPS for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.05. The business had revenue of $52.28 million during the quarter, compared to analysts’ expectations of $50.60 million. C3.ai’s quarterly revenue was up 25.6% on a year-over-year basis. As a group, sell-side analysts expect that C3.ai, Inc. will post -1.12 EPS for the current year.

AI has been the subject of a number of analyst reports. Piper Sandler cut their price target on C3.ai from $141.00 to $98.00 and set an “overweight” rating for the company in a research note on Thursday, June 3rd. Deutsche Bank Aktiengesellschaft dropped their price target on C3.ai from $98.00 to $63.00 and set a “hold” rating for the company in a research note on Thursday, June 3rd. Canaccord Genuity reduced their price objective on shares of 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. Morgan Stanley raised their target price on shares of C3.ai from $60.00 to $62.00 and gave the company an “underweight” rating in a research note on Thursday, June 3rd. Finally, Needham & Company LLC reduced their price target on shares of C3.ai from $195.00 to $146.00 and set a “buy” rating on the stock in a report on Thursday, June 3rd. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the stock. C3.ai currently has an average rating of “Hold” and a consensus target price of $107.22.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AI. NEXT Financial Group Inc purchased a new stake in C3.ai during the 4th quarter valued at $26,000. Valeo Financial Advisors LLC purchased a new position in C3.ai during the fourth quarter worth $26,000. Glassman Wealth Services bought a new position in C3.ai during the first quarter valued at $26,000. Steward Partners Investment Advisory LLC purchased a new stake in shares of C3.ai in the fourth quarter valued at $27,000. Finally, Captrust Financial Advisors bought a new stake in shares of C3.ai in the 4th quarter worth about $27,000. Institutional investors own 46.16% 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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Insider Buying and Selling by Quarter for C3.ai (NYSE:AI)

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