C3.ai (NYSE:AI) Chairman Sells $1,403,210.22 in Stock

C3.ai, Inc. (NYSE:AI) Chairman Thomas Siebel sold 165,278 shares of the firm’s stock in a transaction dated Tuesday, April 14th. The shares were sold at an average price of $8.49, for a total value of $1,403,210.22. Following the transaction, the chairman directly owned 722,362 shares in the company, valued at $6,132,853.38. This trade represents a 18.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

C3.ai Trading Up 13.5%

Shares of NYSE:AI traded up $1.14 on Wednesday, reaching $9.54. 7,893,995 shares of the company traded hands, compared to its average volume of 6,608,711. The business’s 50-day simple moving average is $9.27 and its 200 day simple moving average is $13.08. C3.ai, Inc. has a 52 week low of $7.68 and a 52 week high of $30.24. The stock has a market capitalization of $1.39 billion, a P/E ratio of -3.03 and a beta of 2.08.

C3.ai (NYSE:AI) last announced its quarterly earnings data on Wednesday, February 25th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.11). The company had revenue of $53.26 million for the quarter, compared to the consensus estimate of $75.91 million. C3.ai had a negative net margin of 141.35% and a negative return on equity of 55.40%. The firm’s quarterly revenue was down 46.1% compared to the same quarter last year. During the same period last year, the business posted ($0.12) earnings per share. Sell-side analysts expect that C3.ai, Inc. will post -2.44 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on AI. BMO Capital Markets set a $7.00 target price on C3.ai in a research note on Thursday, February 26th. Canaccord Genuity Group cut their target price on C3.ai from $16.00 to $7.00 and set a “hold” rating on the stock in a research note on Thursday, February 26th. Wedbush cut their target price on C3.ai from $20.00 to $15.00 and set an “outperform” rating on the stock in a research note on Thursday, February 26th. DA Davidson cut their target price on C3.ai from $13.00 to $7.00 and set an “underperform” rating on the stock in a research note on Thursday, February 26th. Finally, Citizens Jmp cut C3.ai from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 26th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, seven have issued a Hold rating and six have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus target price of $15.87.

Institutional Trading of C3.ai

Large investors have recently bought and sold shares of the company. Larson Financial Group LLC boosted its position in C3.ai by 683.6% during the 3rd quarter. Larson Financial Group LLC now owns 1,481 shares of the company’s stock valued at $26,000 after acquiring an additional 1,292 shares in the last quarter. Farther Finance Advisors LLC boosted its position in C3.ai by 66.1% during the 4th quarter. Farther Finance Advisors LLC now owns 2,141 shares of the company’s stock valued at $29,000 after acquiring an additional 852 shares in the last quarter. Parallel Advisors LLC boosted its position in C3.ai by 76.4% during the 3rd 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. Comerica Bank boosted its position in C3.ai by 839.1% during the 4th quarter. Comerica Bank now owns 2,423 shares of the company’s stock valued at $33,000 after acquiring an additional 2,165 shares in the last quarter. Finally, Olistico Wealth LLC bought a new stake in C3.ai during the 4th quarter valued at approximately $34,000. 38.96% of the stock is owned by institutional investors.

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.