Thomas Siebel Sells 326,189 Shares of C3.ai (NYSE:AI) Stock

C3.ai, Inc. (NYSE:AI) Chairman Thomas Siebel sold 326,189 shares of C3.ai stock in a transaction dated Monday, April 13th. The stock was sold at an average price of $8.31, for a total value of $2,710,630.59. Following the completion of the sale, the chairman owned 722,362 shares in the company, valued at approximately $6,002,828.22. The trade was a 31.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

C3.ai Price Performance

AI stock traded up $1.14 during trading on Wednesday, hitting $9.54. The stock had a trading volume of 7,893,995 shares, compared to its average volume of 6,608,711. C3.ai, Inc. has a twelve month low of $7.68 and a twelve month 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. The company’s 50-day moving average price is $9.27 and its two-hundred day moving average price is $13.08.

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

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Larson Financial Group LLC lifted its holdings in C3.ai by 683.6% in the third 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 during the last quarter. Farther Finance Advisors LLC raised its position in C3.ai by 66.1% in the fourth quarter. Farther Finance Advisors LLC now owns 2,141 shares of the company’s stock valued at $29,000 after purchasing an additional 852 shares during the period. Parallel Advisors LLC lifted 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 worth $32,000 after purchasing an additional 801 shares in the last quarter. Comerica Bank lifted its stake in C3.ai by 839.1% during the fourth quarter. Comerica Bank now owns 2,423 shares of the company’s stock worth $33,000 after purchasing an additional 2,165 shares in the last quarter. Finally, Olistico Wealth LLC acquired a new position in C3.ai during the fourth quarter worth $34,000. 38.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AI has been the topic of several recent research reports. KeyCorp lowered their target price on C3.ai from $10.00 to $6.00 and set an “underweight” rating on the stock in a report on Thursday, February 26th. Bank of America set a $10.00 target price on C3.ai in a report on Friday, January 30th. Citizens Jmp cut C3.ai from an “outperform” rating to a “market perform” rating in a report on Thursday, February 26th. UBS Group restated a “reduce” rating on shares of C3.ai in a report on Thursday, February 26th. Finally, Canaccord Genuity Group lowered their target price on C3.ai from $16.00 to $7.00 and set a “hold” rating on the stock in a report on Thursday, February 26th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, seven have issued a Hold rating and six have assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Reduce” and an average price target 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.