Insider Selling: C3.ai (NYSE:AI) CEO Sells $968,921.10 in Stock

C3.ai, Inc. (NYSE:AIGet Free Report) CEO Thomas Siebel sold 112,014 shares of the company’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $8.65, for a total transaction of $968,921.10. Following the transaction, the chief executive officer owned 722,362 shares in the company, valued at $6,248,431.30. The trade was a 13.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

C3.ai Price Performance

C3.ai stock opened at $9.31 on Friday. The firm has a market capitalization of $1.35 billion, a P/E ratio of -2.95 and a beta of 2.00. C3.ai, Inc. has a 1-year low of $7.68 and a 1-year high of $30.24. The company’s 50-day moving average is $8.83 and its 200 day moving average is $11.50.

C3.ai (NYSE:AIGet Free Report) last announced its earnings results 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 business had revenue of $53.26 million for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter last year, the firm earned ($0.12) EPS. Research analysts anticipate that C3.ai, Inc. will post -3.22 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have weighed in on AI shares. Weiss Ratings lowered C3.ai from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, May 4th. DA Davidson reissued an “underperform” rating and set a $7.00 target price on shares of C3.ai in a research note on Wednesday, May 13th. BMO Capital Markets set a $7.00 price target on shares of C3.ai in a report on Thursday, February 26th. Wolfe Research restated an “underperform” rating and set a $6.00 price objective on shares of C3.ai in a research note on Thursday, February 26th. Finally, Canaccord Genuity Group lifted their target price on C3.ai from $7.00 to $8.00 and gave the company a “hold” rating in a research note on Wednesday, May 13th. 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 given a Sell rating to the company. According to MarketBeat.com, C3.ai currently has a consensus rating of “Reduce” and a consensus target price of $15.93.

Read Our Latest Stock Report on AI

Key Headlines Impacting C3.ai

Here are the key news stories impacting C3.ai this week:

  • Positive Sentiment: C3.ai announced that a Delaware jury unanimously found Cummins liable for misappropriating C3.ai trade secrets, a legal win that may improve investor confidence in the company’s technology and licensing position. Cummins Inc. Liable for Misappropriation of C3 AI Trade Secrets
  • Positive Sentiment: Retail-trader enthusiasm has also helped the stock, with commentary noting AI shares have been rebounding as speculation grows that the selloff may have bottomed. Forget C3.ai…
  • Neutral Sentiment: Founder Thomas Siebel returned as CEO, which could help with leadership stability, but it also signals the company is still working through operational challenges. C3.ai Recently Announced Incredible News for Investors. Is It Time to Buy the Stock?
  • Negative Sentiment: Siebel also sold 112,014 shares in a pre-arranged trading plan, and another report cited a separate sale of 369,624 shares, which may weigh on sentiment because insider selling can be read as a cautious signal. Thomas Siebel Sells 112,014 Shares of C3.ai (NYSE:AI) Stock
  • Negative Sentiment: Broader bearish coverage continues to highlight weak fundamentals, including cash burn and heavy losses, reminding investors that C3.ai’s turnaround is still not proven. Forget C3.ai…

Institutional Trading of C3.ai

A number of institutional investors have recently made changes to their positions in AI. Vanguard Group Inc. raised its stake in C3.ai by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 14,469,953 shares of the company’s stock valued at $195,055,000 after buying an additional 108,011 shares during the last quarter. Morgan Stanley grew its stake in shares of C3.ai by 1.9% during the fourth quarter. Morgan Stanley now owns 4,824,499 shares of the company’s stock worth $65,034,000 after acquiring an additional 91,802 shares during the last quarter. Bank of America Corp DE increased its holdings in shares of C3.ai by 55.1% during the first quarter. Bank of America Corp DE now owns 3,282,183 shares of the company’s stock valued at $27,636,000 after acquiring an additional 1,166,302 shares in the last quarter. State Street Corp raised its position in shares of C3.ai by 3.3% in the 4th quarter. State Street Corp now owns 2,976,389 shares of the company’s stock valued at $40,122,000 after purchasing an additional 94,086 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in C3.ai by 0.8% in the 4th quarter. Geode Capital Management LLC now owns 2,868,578 shares of the company’s stock worth $38,675,000 after purchasing an additional 21,451 shares in the last quarter. Institutional investors and hedge funds own 38.96% of the company’s stock.

About C3.ai

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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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