C3.ai (NYSE:AI) Chairman Thomas Siebel Sells 282,203 Shares of Stock

C3.ai, Inc. (NYSE:AI) Chairman Thomas Siebel sold 282,203 shares of the firm’s stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $8.86, for a total transaction of $2,500,318.58. Following the completion of the sale, the chairman owned 722,362 shares in the company, valued at $6,400,127.32. This represents a 28.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

C3.ai Stock Up 0.6%

NYSE AI opened at $8.67 on Friday. The firm has a market cap of $1.22 billion, a PE ratio of -2.75 and a beta of 2.05. The company has a 50 day moving average price of $10.86 and a 200 day moving average price of $14.22. C3.ai, Inc. has a 52 week low of $7.72 and a 52 week high of $30.24.

C3.ai (NYSE:AI) last announced its earnings results on Wednesday, February 25th. The company reported ($0.40) earnings per share 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 net margin of 141.35% and a negative return on equity of 55.40%. C3.ai’s revenue was down 46.1% on a year-over-year basis. During the same quarter last year, the business earned ($0.12) earnings per share. On average, equities research analysts anticipate that C3.ai, Inc. will post -2.44 earnings per share for the current fiscal year.

Institutional Trading of C3.ai

Several large investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its position in C3.ai by 5.9% during the 2nd quarter. Geode Capital Management LLC now owns 2,813,233 shares of the company’s stock worth $69,129,000 after buying an additional 156,925 shares during the last quarter. Quantbot Technologies LP boosted its holdings in shares of C3.ai by 2,831.4% in the 3rd quarter. Quantbot Technologies LP now owns 554,472 shares of the company’s stock valued at $9,615,000 after acquiring an additional 535,557 shares during the last quarter. Magnetar Financial LLC purchased a new stake in shares of C3.ai in the 2nd quarter valued at $556,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of C3.ai in the second quarter worth $1,063,000. Finally, SG Americas Securities LLC increased its stake in shares of C3.ai by 1,149.9% in the third quarter. SG Americas Securities LLC now owns 178,846 shares of the company’s stock worth $3,101,000 after acquiring an additional 164,537 shares during the period. Hedge funds and other institutional investors own 38.96% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on AI shares. Needham & Company LLC restated a “hold” rating on shares of C3.ai in a research note on Thursday, December 4th. JPMorgan Chase & Co. lowered their price target on C3.ai from $10.00 to $7.00 and set an “underweight” rating for the company in a report on Thursday, February 26th. Canaccord Genuity Group dropped their price target on C3.ai from $16.00 to $7.00 and set a “hold” rating on the stock in a research note on Thursday, February 26th. Weiss Ratings restated a “sell (d-)” rating on shares of C3.ai in a report on Wednesday, January 21st. Finally, KeyCorp decreased their price objective on shares of C3.ai from $10.00 to $6.00 and set an “underweight” rating for the company in a research report on Thursday, February 26th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, seven have assigned a Hold rating and six have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently 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.