C3.ai (NYSE:AI) Chairman Sells 392,064 Shares

C3.ai, Inc. (NYSE:AI) Chairman Thomas Siebel sold 392,064 shares of C3.ai stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $14.37, for a total value of $5,633,959.68. Following the completion of the sale, the chairman owned 1,082,613 shares of the company’s stock, valued at $15,557,148.81. This trade represents a 26.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

C3.ai Stock Down 1.9%

Shares of AI stock traded down $0.27 during trading hours on Thursday, hitting $13.78. 4,756,944 shares of the company were exchanged, compared to its average volume of 6,565,780. C3.ai, Inc. has a 1 year low of $12.59 and a 1 year high of $39.64. The firm has a fifty day moving average of $15.82 and a 200 day moving average of $19.58. The firm has a market cap of $1.90 billion, a PE ratio of -4.87 and a beta of 1.97.

C3.ai (NYSE:AI) last posted its quarterly earnings results on Wednesday, December 3rd. The company reported ($0.25) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.08. The company had revenue of $75.15 million for the quarter, compared to the consensus estimate of $74.86 million. C3.ai had a negative net margin of 108.06% and a negative return on equity of 46.51%. C3.ai’s revenue was down 20.3% on a year-over-year basis. During the same quarter last year, the firm posted ($0.06) earnings per share. Analysts expect that C3.ai, Inc. will post -2.44 earnings per share for the current year.

Institutional Investors Weigh In On C3.ai

A number of institutional investors have recently modified their holdings of AI. Silicon Valley Capital Partners acquired a new position in C3.ai in the second quarter worth about $25,000. Larson Financial Group LLC raised its stake in 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 in the last quarter. Parallel Advisors LLC lifted its holdings in C3.ai by 76.4% during the 3rd quarter. Parallel Advisors LLC now owns 1,849 shares of the company’s stock worth $32,000 after buying an additional 801 shares during the last quarter. Financial Consulate Inc. acquired a new position in shares of C3.ai in the 3rd quarter worth approximately $36,000. Finally, Clearstead Advisors LLC increased its holdings in shares of C3.ai by 58.0% in the 3rd quarter. Clearstead Advisors LLC now owns 2,350 shares of the company’s stock valued at $41,000 after acquiring an additional 863 shares during the last quarter. Institutional investors and hedge funds own 38.96% of the company’s stock.

Wall Street Analysts Forecast Growth

AI has been the topic of several research analyst reports. JMP Securities reduced their price objective on C3.ai from $30.00 to $24.00 and set a “market outperform” rating on the stock in a research note on Thursday, September 4th. UBS Group raised their price objective on C3.ai from $16.00 to $17.00 and gave the company a “neutral” rating in a research report on Friday, September 12th. Morgan Stanley lowered their target price on C3.ai from $22.00 to $11.00 and set an “underweight” rating for the company in a research note on Tuesday, September 9th. KeyCorp reduced their price target on C3.ai from $18.00 to $10.00 and set an “underweight” rating on the stock in a research report on Thursday, September 4th. Finally, DA Davidson reaffirmed an “underperform” rating and issued a $13.00 price objective on shares of C3.ai in a research report on Thursday, December 4th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, seven have given a Hold rating and five have given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and an average price target of $21.92.

C3.ai Company Profile

C3.ai, Inc operates as an enterprise artificial intelligence (AI) software company in North America, Europe, the Middle East, Africa, the Asia Pacific, and internationally. The company provides C3 AI platform, an application development and runtime environment that enables customers to design, develop, and deploy enterprise AI applications; C3 AI Ex Machina for analysis-ready data; C3 AI CRM, an industry specific customer relationship management solution; and C3 Generative AI Product Suite that enables to locate, retrieve, and present information.