c3.ai CEO Condoleezza Rice Sells $3.36M worth of Stock By Investing.com

Condoleezza Rice, CEO of C3.ai, Inc. (NISE:), recently sold a significant portion of its stake in the company. According to a recent SEC filing, Rice sold 74,689 shares of C3.ai Class A common stock at a weighted average price of $45.01 per share on December 10, 2024. This transaction amounted to approximately 3.36 million dollars. 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 According to the data, the stock has shown strong momentum with a return of 25% in the past six months.

In addition, the filing said Rice exercised options to buy 74,689 shares at prices ranging from $1.68 to $1.86, totaling $132,921. After these transactions, Rice owns 74,387 shares directly and 587 shares indirectly through the Condoleezza Rice trust. These transactions were executed according to a predetermined trading plan under Rule 10b5-1. InvestingPro subscribers can access 10 additional exclusive tips on C3.ai’s financial health and market position, along with comprehensive analysis in the Pro Research Report.

In other recent news, C3 AI, a provider of enterprise AI software, is making strides with several notable developments. The company posted an impressive 21.73% year-over-year revenue growth and recently reported third-quarter earnings that beat expectations. Revenue reached $94.3 million, an 8.2% increase over the quarter, with success in the federal and commercial sectors.

In addition to financial growth, C3 AI has expanded its partnership with Collins Aerospace to develop AI-based solutions for the defense and intelligence sectors. The collaboration aims to deploy applications from the C3 AI Defense and Intelligence Suite, further improving operational efficiency and national security decision-making capabilities.

Analyst firms have also been adjusting their views on C3 AI. Canaccord Genuity raised its price target for the company while maintaining a Hold rating, citing seven consecutive quarters of accelerated growth. However, JPMorgan cut the company’s rating from neutral to weak, citing concerns over uneven performance and high growth costs.

Furthermore, C3 AI has partnered with IT systems integrator ECS to improve the US military’s intelligence processes. The collaboration will deploy C3 AI Decision Advantage, a suite of artificial intelligence-enabled applications, to streamline the military’s intelligence collection management workflow.

These recent developments reflect C3 AI’s ongoing efforts to leverage its AI capabilities for growth and strategic collaboration.

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