C3.ai (NASDAQ: AI) Chief Executive Officer Stephen Bradley Ehikian executed a sale of 52,194 shares of Class A Common Stock on March 31, at prices between $7.97 and $8.41 per share, for proceeds of approximately $429,092. The transaction was disclosed in a Form 4 filing with the Securities and Exchange Commission and left Ehikian with 721,485 shares held directly.
The disposal occurred while the shares were trading near a 52-week low of $7.67, and the stock has declined roughly 60% over the past 12 months. The Form 4 filing also records a series of other movements around the same dates that change the composition of Ehikian’s holdings.
On March 30, the filing shows Ehikian acquired 32,093 shares of Class A Common Stock that were reported with a value of $0. Then, on April 1 he is recorded as having disposed of 47,316 shares with a reported value of $0. That same April 1 filing records an indirect acquisition of 47,316 shares held by the Stephen Bradley Ehikian Revocable Trust, for which Ehikian serves as the sole trustee.
The filings indicate a mix of direct and indirect ownership adjustments rather than straightforward open-market purchases at stated cash prices for all of the transactions listed. The reported sale of March 31, however, did generate the cash proceeds of about $429,092 and reduced direct ownership as noted above.
Separately, market research referenced in public materials indicates that an InvestingPro analysis considers the stock to be trading below its Fair Value, suggesting undervaluation by that measure. Investors are offered access to more detailed research in the platform's Pro Research Report for C3.ai as part of its suite of equity reports.
The insider activity follows a period of challenging financial results for C3.ai. The company reported third-quarter fiscal 2026 earnings that missed consensus significantly and subsequently trimmed its full-year fiscal 2026 guidance. Those results triggered several analyst reactions.
DA Davidson lowered its price target on the company to $7 and maintained an Underperform rating. Wolfe Research and KeyBanc each cut their targets to $6, citing weak sales execution and a roughly 30% revenue miss in the third quarter. Canaccord set a $7 target while highlighting concerns around revenue declines despite a 134% year-over-year increase in federal, defense, and aerospace bookings.
C3.ai projected fourth-quarter revenue in a range of $48 million to $52 million, a figure well below the analyst consensus estimate of $77.47 million. That shortfall was a contributing factor in a 22.7% drop in the company’s share price following the announcement. Management identified the lack of non-recurring subscription revenue and demonstration licenses in the third quarter as among the factors behind the revenue shortfall.
Even as analysts trimmed targets, the company reported several sizable contract wins, including agreements involving the U.S. Department of Agriculture, the Department of Energy, NATO, and ExxonMobil. Those bookings were cited alongside concerns over near-term revenue performance in the analyst commentary.
The filings and analyst moves underscore an active period for both insider transactions and market reassessment of the company’s near-term outlook.