Robinhood shares gain on Q2 beat, as user and crypto growth accelerate
In recent transactions disclosed by C3.ai, Inc. (NYSE:AI), a $4 billion market cap artificial intelligence software provider, Senior Vice President of Operations Merel Witteveen sold shares of the company’s Class A Common Stock. On February 18, Witteveen sold 3,253 shares at an average price of $31.57, totaling approximately $102,697. According to InvestingPro data, the company maintains strong liquidity with a current ratio of 7.5x, though its overall financial health score is currently rated as weak.
Earlier, on February 15, Witteveen acquired 10,000 shares through the exercise of restricted stock units, which were converted into Class A Common Stock. Additionally, 5,661 shares were disposed of to cover tax obligations at a price of $31.56 each, amounting to $178,661. The company has shown strong revenue growth of 22% over the last twelve months, with its next earnings report due on February 26.
Following these transactions, Witteveen holds 5,546 shares directly. The sale was part of a pre-established Rule 10b5-1 trading plan dated September 27, 2024. With a beta of 1.97, InvestingPro analysis indicates the stock exhibits significant price volatility, making it crucial for investors to monitor insider transactions carefully.
In other recent news, C3.ai has been the focus of several significant developments. The company has announced an expanded partnership with Collins Aerospace to develop AI-driven solutions for the defense and intelligence sectors. This collaboration aims to enhance operational efficiency and decision-making capabilities within national security. However, C3.ai has faced some challenges as KeyBanc Capital Markets downgraded the stock from Sector Weight to Underweight, citing concerns over valuation and revenue growth sustainability. KeyBanc noted that the company’s subscription revenue growth has slowed, and there are uncertainties surrounding its partnerships.
Additionally, JPMorgan also downgraded C3.ai to Underweight, setting a price target of $28.00, due to concerns over high growth costs and the potential expiration of a key partnership with Baker Hughes (NASDAQ:BKR). On a more positive note, Canaccord Genuity increased C3.ai’s price target to $40, maintaining a Hold rating, acknowledging the company’s impressive growth streak and new partnership with Microsoft (NASDAQ:MSFT). This partnership is expected to enhance C3.ai’s market reach, despite ongoing concerns about profitability. These recent developments highlight the mixed sentiment surrounding C3.ai’s growth prospects and strategic partnerships.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.