Insider Selling: C3.ai (NYSE:AI) CEO Sells $196,402.00 in Stock

C3.ai, Inc. (NYSE:AIGet Free Report) CEO Thomas Siebel sold 17,350 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $11.32, for a total transaction of $196,402.00. Following the transaction, the chief executive officer owned 6,904,415 shares of the company’s stock, valued at $78,157,977.80. This trade represents a 0.25% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

C3.ai Stock Down 1.4%

NYSE AI opened at $10.43 on Friday. C3.ai, Inc. has a 52 week low of $7.68 and a 52 week high of $30.11. The stock has a market capitalization of $1.52 billion, a PE ratio of -3.12 and a beta of 2.04. The firm has a 50 day moving average of $9.19 and a two-hundred day moving average of $11.13.

C3.ai (NYSE:AIGet Free Report) last posted its quarterly earnings results on Wednesday, June 3rd. The company reported ($0.33) EPS for the quarter, topping the consensus estimate of ($0.38) by $0.05. C3.ai had a negative net margin of 187.95% and a negative return on equity of 60.20%. The company had revenue of $51.60 million during the quarter, compared to analysts’ expectations of $51.60 million. During the same quarter in the previous year, the business posted ($0.16) EPS. The firm’s revenue was down 52.5% on a year-over-year basis. On average, equities research analysts expect that C3.ai, Inc. will post -2.47 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of AI. Bank of America Corp DE boosted its holdings in shares of C3.ai by 55.1% in the 1st quarter. Bank of America Corp DE now owns 3,282,183 shares of the company’s stock valued at $27,636,000 after buying an additional 1,166,302 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of C3.ai by 77.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,804,188 shares of the company’s stock valued at $31,284,000 after buying an additional 785,508 shares in the last quarter. Two Sigma Investments LP acquired a new position in shares of C3.ai in the 3rd quarter valued at $13,379,000. Voloridge Investment Management LLC acquired a new position in shares of C3.ai in the 4th quarter valued at $9,183,000. Finally, Federated Hermes Inc. boosted its holdings in shares of C3.ai by 93,578.8% in the 4th quarter. Federated Hermes Inc. now owns 675,424 shares of the company’s stock valued at $9,105,000 after buying an additional 674,703 shares in the last quarter. Institutional investors and hedge funds own 38.96% of the company’s stock.

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Analysts Set New Price Targets

Several research firms have commented on AI. Wolfe Research reiterated an “underperform” rating and set a $6.00 price target on shares of C3.ai in a report on Thursday, February 26th. DA Davidson reiterated an “underperform” rating and set a $7.00 price target on shares of C3.ai in a report on Thursday. BMO Capital Markets set a $7.00 price target on shares of C3.ai in a report on Thursday, February 26th. Wedbush reiterated an “outperform” rating and set a $15.00 price target on shares of C3.ai in a report on Thursday. Finally, Citizens Jmp restated a “market perform” rating on shares of C3.ai in a report on Thursday. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, six have given a Hold rating and six have given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus target price of $12.92.

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C3.ai Company Profile

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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.

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Insider Buying and Selling by Quarter for C3.ai (NYSE:AI)

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