C3.ai (NYSE:AI) CEO Thomas Siebel Sells 112,014 Shares

C3.ai, Inc. (NYSE:AI) CEO Thomas Siebel sold 112,014 shares of the firm’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $8.65, for a total transaction of $968,921.10. Following the sale, the chief executive officer directly owned 722,362 shares of the company’s stock, valued at $6,248,431.30. The trade was a 13.42% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

C3.ai Trading Up 1.0%

AI stock opened at $8.84 on Wednesday. C3.ai, Inc. has a twelve month low of $7.68 and a twelve month high of $30.24. The company has a market capitalization of $1.28 billion, a P/E ratio of -2.80 and a beta of 2.00. The firm has a 50 day simple moving average of $8.83 and a 200-day simple moving average of $11.61.

C3.ai (NYSE:AI) last released its quarterly earnings results on Wednesday, February 25th. The company reported ($0.40) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.11). C3.ai had a negative return on equity of 55.40% and a negative net margin of 141.35%.The company had revenue of $53.26 million for the quarter, compared to analyst estimates of $75.91 million. During the same period in the previous year, the business posted ($0.12) EPS. The firm’s quarterly revenue was down 46.1% compared to the same quarter last year. On average, research analysts predict that C3.ai, Inc. will post -3.22 EPS for the current year.

Hedge Funds Weigh In On C3.ai

Hedge funds and other institutional investors have recently modified their holdings of the company. Quantbot Technologies LP boosted its holdings in shares of C3.ai by 2,831.4% during the third quarter. Quantbot Technologies LP now owns 554,472 shares of the company’s stock valued at $9,615,000 after acquiring an additional 535,557 shares during the period. Vanguard Group Inc. boosted its holdings in shares of C3.ai by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 14,469,953 shares of the company’s stock valued at $195,055,000 after acquiring an additional 108,011 shares during the period. Clare Market Investments LLC acquired a new position in shares of C3.ai during the third quarter valued at $2,207,000. SG Americas Securities LLC boosted its holdings in shares of C3.ai by 115.0% during the fourth quarter. SG Americas Securities LLC now owns 384,486 shares of the company’s stock valued at $5,183,000 after acquiring an additional 205,640 shares during the period. Finally, Neo Ivy Capital Management acquired a new position in shares of C3.ai during the third quarter valued at $2,010,000. Institutional investors and hedge funds own 38.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. KeyCorp decreased their price objective on shares of C3.ai from $10.00 to $6.00 and set an “underweight” rating for the company in a report on Thursday, February 26th. Weiss Ratings downgraded shares of C3.ai from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, May 4th. JPMorgan Chase & Co. decreased their price objective on shares of C3.ai from $10.00 to $7.00 and set an “underweight” rating for the company in a report on Thursday, February 26th. BMO Capital Markets set a $7.00 price objective on shares of C3.ai in a report on Thursday, February 26th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $15.00 price objective on shares of C3.ai in a report on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, seven have given a Hold rating and six have given a Sell rating to the stock. According to data from MarketBeat, C3.ai presently has an average rating of “Reduce” and an average price target of $15.93.

C3.ai Company Profile

C3.ai, Inc is a leading enterprise software provider focused on delivering scalable artificial intelligence (AI) and Internet of Things (IoT) solutions to large organizations. The company’s core offering, the C3 AI Suite, is a comprehensive, model-driven platform that unifies data ingestion, model development, and application deployment. Through its suite of tools, C3.ai enables customers to accelerate digital transformation initiatives by applying advanced machine learning, predictive analytics, and AI-driven insights across a broad range of business functions.

The C3 AI Suite provides a low-code environment for data scientists and application developers to rapidly design, test, and deploy enterprise-scale AI applications.