Thomas Siebel Sells 23,000 Shares of C3.ai (NYSE:AI) Stock

C3.ai, Inc. (NYSE:AI) Chairman Thomas Siebel sold 23,000 shares of the stock in a transaction on Friday, December 12th. The stock was sold at an average price of $15.94, for a total transaction of $366,620.00. Following the sale, the chairman directly owned 744,129 shares in the company, valued at $11,861,416.26. This trade represents a 3.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

C3.ai Stock Down 3.9%

Shares of NYSE:AI opened at $14.68 on Tuesday. The company has a market cap of $2.02 billion, a PE ratio of -5.19 and a beta of 1.97. C3.ai, Inc. has a fifty-two week low of $12.59 and a fifty-two week high of $44.34. The firm has a 50-day simple moving average of $16.12 and a 200 day simple moving average of $19.74.

C3.ai (NYSE:AI) last issued its earnings results on Wednesday, December 3rd. The company reported ($0.25) EPS for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.08. The company had revenue of $75.15 million during the quarter, compared to the consensus estimate of $74.86 million. C3.ai had a negative return on equity of 46.51% and a negative net margin of 108.06%.C3.ai’s quarterly revenue was down 20.3% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.06) earnings per share. As a group, research analysts forecast that C3.ai, Inc. will post -2.44 EPS for the current fiscal year.

Institutional Investors Weigh In On C3.ai

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

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. JMP Securities cut their target price on 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. DA Davidson reaffirmed an “underperform” rating and issued a $13.00 price objective on shares of C3.ai in a report on Thursday, December 4th. Wedbush reissued an “outperform” rating and set a $20.00 target price on shares of C3.ai in a research note on Thursday, December 4th. UBS Group raised their price target on shares of C3.ai from $16.00 to $17.00 and gave the company a “neutral” rating in a research note on Friday, September 12th. Finally, KeyCorp cut their price target on C3.ai from $18.00 to $10.00 and set an “underweight” rating on the stock in a report on Thursday, September 4th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, seven have assigned a Hold rating and five have given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Reduce” and an average target price of $21.92.

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.