C3.ai (NYSE:AI) Chairman Sells $2,001,720.96 in Stock

C3.ai, Inc. (NYSE:AI) Chairman Thomas Siebel sold 140,768 shares of the firm’s stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $14.22, for a total transaction of $2,001,720.96. Following the sale, the chairman directly owned 941,845 shares in the company, valued at approximately $13,393,035.90. The trade was a 13.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

C3.ai Price Performance

Shares of AI traded down $0.27 during trading hours on Thursday, hitting $13.78. The stock had a trading volume of 4,756,944 shares, compared to its average volume of 6,565,780. The firm has a market capitalization of $1.90 billion, a PE ratio of -4.87 and a beta of 1.97. The stock has a fifty day moving average price of $15.82 and a 200 day moving average price of $19.58. C3.ai, Inc. has a 12 month low of $12.59 and a 12 month high of $39.64.

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

Analyst Upgrades and Downgrades

Several analysts recently issued reports on AI shares. JMP Securities cut their target price on C3.ai from $30.00 to $24.00 and set a “market outperform” rating for the company in a research report on Thursday, September 4th. Wedbush restated an “outperform” rating and issued a $20.00 price target on shares of C3.ai in a research note on Thursday, December 4th. UBS Group increased their price objective on shares of C3.ai from $16.00 to $17.00 and gave the company a “neutral” rating in a report on Friday, September 12th. Morgan Stanley lowered their target price on shares of C3.ai from $22.00 to $11.00 and set an “underweight” rating on the stock in a report on Tuesday, September 9th. Finally, DA Davidson restated an “underperform” rating and set a $13.00 target price on shares of C3.ai in a research report on Thursday, December 4th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, seven have issued a Hold rating and five have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus target price of $21.92.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in AI. Geode Capital Management LLC lifted its position in C3.ai by 5.9% during the second quarter. Geode Capital Management LLC now owns 2,813,233 shares of the company’s stock valued at $69,129,000 after purchasing an additional 156,925 shares during the period. 111 Capital acquired a new stake in C3.ai during the 2nd quarter worth about $714,000. Perbak Capital Partners LLP purchased a new position in shares of C3.ai during the 1st quarter valued at about $341,000. Magnetar Financial LLC acquired a new position in shares of C3.ai in the 2nd quarter valued at about $556,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of C3.ai by 1,481.6% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 502,173 shares of the company’s stock worth $12,338,000 after buying an additional 470,422 shares during the last quarter. Hedge funds and other institutional investors own 38.96% of the company’s stock.

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.