C3.ai (NYSE:AI) Chairman Thomas Siebel Sells 165,278 Shares

C3.ai, Inc. (NYSE:AI) Chairman Thomas Siebel sold 165,278 shares of the business’s stock in a transaction dated Tuesday, April 14th. The stock was sold at an average price of $8.49, for a total value of $1,403,210.22. Following the transaction, the chairman owned 722,362 shares of the company’s stock, valued at approximately $6,132,853.38. The trade was a 18.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

C3.ai Price Performance

NYSE AI traded up $1.14 during trading hours on Wednesday, reaching $9.54. 7,893,995 shares of the stock traded hands, compared to its average volume of 6,608,711. The stock has a 50 day simple moving average of $9.27 and a two-hundred day simple moving average of $13.08. C3.ai, Inc. has a 1 year low of $7.68 and a 1 year high of $30.24. The company has a market cap of $1.39 billion, a price-to-earnings ratio of -3.03 and a beta of 2.08.

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 net margin of 141.35% and a negative return on equity of 55.40%. The firm had revenue of $53.26 million for the quarter, compared to analysts’ expectations of $75.91 million. During the same quarter in the previous year, the business earned ($0.12) EPS. The company’s revenue for the quarter was down 46.1% on a year-over-year basis. On average, sell-side analysts forecast that C3.ai, Inc. will post -2.44 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of AI. Larson Financial Group LLC grew its stake in shares of 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 during the last quarter. Farther Finance Advisors LLC grew its stake in shares of C3.ai by 66.1% during the fourth quarter. Farther Finance Advisors LLC now owns 2,141 shares of the company’s stock valued at $29,000 after buying an additional 852 shares during the last quarter. Parallel Advisors LLC grew its stake in shares of 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 during the last quarter. Comerica Bank grew its stake in shares of C3.ai by 839.1% during the fourth quarter. Comerica Bank now owns 2,423 shares of the company’s stock valued at $33,000 after buying an additional 2,165 shares during the last quarter. Finally, Olistico Wealth LLC bought a new position in shares of C3.ai during the fourth quarter valued at about $34,000. 38.96% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on AI. JPMorgan Chase & Co. lowered their price target on C3.ai from $10.00 to $7.00 and set an “underweight” rating on the stock in a research report on Thursday, February 26th. UBS Group restated a “reduce” rating on shares of C3.ai in a research report on Thursday, February 26th. Weiss Ratings restated a “sell (d-)” rating on shares of C3.ai in a research report on Wednesday, January 21st. DA Davidson lowered their price target on C3.ai from $13.00 to $7.00 and set an “underperform” rating on the stock in a research report on Thursday, February 26th. Finally, Wolfe Research restated an “underperform” rating and set a $6.00 price target on shares of C3.ai in a research report on Thursday, February 26th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, seven have assigned a Hold rating and six have issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and an average target price of $15.87.

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.