Condoleezza Rice, a director at C3.ai, Inc. (NYSE:), recently sold a significant portion of her holdings in the company. According to a recent SEC filing, Rice sold 74,689 shares of C3.ai’s Class A common stock on December 10, 2024, at a weighted average price of $45.01 per share. This transaction amounted to approximately $3.36 million. The sale occurred near C3.ai’s 52-week high of $45.08, with the company currently valued at $4.9 billion. According to InvestingPro data, the stock has shown strong momentum with a 25% return over the past six months.
Additionally, the filing detailed that Rice executed stock options to acquire 74,689 shares at prices ranging from $1.68 to $1.86, totaling $132,921. Following these transactions, Rice holds 74,387 shares directly and 587 shares indirectly through the Condoleezza Rice Trust Agreement. These transactions were conducted under a pre-established Rule 10b5-1 trading plan. InvestingPro subscribers can access 10 additional exclusive tips about C3.ai’s financial health and market position, along with comprehensive analysis in the Pro Research Report.
In other recent news, C3 AI, the enterprise AI software provider, has been making strides with several significant developments. The company has seen an impressive revenue growth of 21.73% year-over-year and recently reported third-quarter earnings that exceeded expectations. Revenue reached $94.3 million, marking an 8.2% increase quarter-over-quarter, with success noted in both federal and commercial sectors.
In addition to financial growth, C3 AI has expanded its partnership with Collins Aerospace to develop AI-driven solutions for the defense and intelligence sectors. The collaboration aims to deploy applications from the C3 AI Defense and Intelligence Suite, further enhancing operational efficiency and decision-making capabilities within national security.
Analyst firms have also been adjusting their outlook on C3 AI. Canaccord Genuity increased their price target for the company while maintaining a Hold rating, citing seven consecutive quarters of accelerating growth. However, JPMorgan downgraded the company from Neutral to Underweight, expressing concerns over uneven performance and high growth costs.
Moreover, C3 AI has entered into a partnership with IT systems integrator ECS to enhance the U.S. Army’s intelligence processes. The collaboration will deploy the C3 AI Decision Advantage, an AI-enabled application suite, to streamline the Army’s information collection management workflows.
These recent developments reflect C3 AI’s ongoing efforts to leverage its AI capabilities for growth and strategic collaborations.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
Source link
#c3.ai #director #Condoleezza #Rice #sells #shares #worth #million #Investing.com
