Insider Selling: C3.ai (NYSE:AI) Chairman Sells $241,570.00 in Stock

C3.ai, Inc. (NYSE:AI) Chairman Thomas Siebel sold 17,000 shares of the stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $14.21, for a total transaction of $241,570.00. Following the sale, the chairman directly owned 15,736 shares of the company’s stock, valued at $223,608.56. The trade was a 51.93% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

C3.ai Price Performance

NYSE AI traded up $0.68 on Wednesday, hitting $15.05. The stock had a trading volume of 9,433,828 shares, compared to its average volume of 6,579,014. The business’s fifty day moving average price is $16.58 and its 200 day moving average price is $20.26. C3.ai, Inc. has a 52-week low of $12.59 and a 52-week high of $45.08. The stock has a market cap of $2.07 billion, a price-to-earnings ratio of -5.79 and a beta of 1.97.

C3.ai (NYSE:AI) last issued its quarterly earnings data on Wednesday, September 3rd. The company reported ($0.86) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.65). The business had revenue of $70.26 million for the quarter, compared to analysts’ expectations of $104.02 million. C3.ai had a negative net margin of 92.08% and a negative return on equity of 40.69%. The business’s revenue for the quarter was down 19.4% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.05) EPS. As a group, sell-side analysts anticipate that C3.ai, Inc. will post -2.44 EPS for the current year.

Institutional Investors Weigh In On C3.ai

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Silicon Valley Capital Partners acquired a new position in shares of C3.ai in the 2nd quarter valued at about $25,000. Larson Financial Group LLC grew its holdings in C3.ai by 683.6% during the third quarter. Larson Financial Group LLC now owns 1,481 shares of the company’s stock worth $26,000 after acquiring an additional 1,292 shares during the period. Parallel Advisors LLC raised its position in C3.ai by 76.4% during the third quarter. Parallel Advisors LLC now owns 1,849 shares of the company’s stock valued at $32,000 after acquiring an additional 801 shares in the last quarter. Financial Consulate Inc. acquired a new position in C3.ai in the third quarter valued at approximately $36,000. Finally, Clearstead Advisors LLC lifted its holdings in C3.ai by 58.0% in the third quarter. Clearstead Advisors LLC now owns 2,350 shares of the company’s stock valued at $41,000 after acquiring an additional 863 shares during the period. 38.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AI has been the subject of several recent analyst reports. Morgan Stanley lowered their price target on C3.ai from $22.00 to $11.00 and set an “underweight” rating for the company in a report on Tuesday, September 9th. Oppenheimer reiterated a “market perform” rating on shares of C3.ai in a research note on Tuesday, August 12th. JMP Securities cut their price target on shares of C3.ai from $30.00 to $24.00 and set a “market outperform” rating on the stock in a research note on Thursday, September 4th. UBS Group lifted their price objective on shares of C3.ai from $16.00 to $17.00 and gave the stock a “neutral” rating in a research note on Friday, September 12th. Finally, DA Davidson reissued an “underperform” rating and issued a $13.00 target price (down from $25.00) on shares of C3.ai in a research report on Monday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, seven have assigned a Hold rating and five have given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average target price of $22.09.

C3.ai Company Profile

C3.ai, Inc operates as an enterprise artificial intelligence (AI) software company in North America, Europe, the Middle East, Africa, the Asia Pacific, and internationally. The company provides C3 AI platform, an application development and runtime environment that enables customers to design, develop, and deploy enterprise AI applications; C3 AI Ex Machina for analysis-ready data; C3 AI CRM, an industry specific customer relationship management solution; and C3 Generative AI Product Suite that enables to locate, retrieve, and present information.