C3.ai (NYSE:AI) CEO Sells 453,314 Shares of Stock

C3.ai, Inc. (NYSE:AI) CEO Thomas Siebel sold 453,314 shares of the stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $10.51, for a total transaction of $4,764,330.14. Following the sale, the chief executive officer owned 722,362 shares of the company’s stock, valued at $7,592,024.62. This trade represents a 38.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

C3.ai Stock Up 0.7%

AI stock traded up $0.07 during trading on Thursday, hitting $10.15. The company had a trading volume of 5,080,515 shares, compared to its average volume of 6,184,285. The firm has a 50-day moving average price of $9.55 and a 200-day moving average price of $9.57. The firm has a market cap of $1.58 billion, a PE ratio of -3.04 and a beta of 2.08. C3.ai, Inc. has a 1-year low of $7.68 and a 1-year high of $20.22.

C3.ai (NYSE:AI) last posted its quarterly earnings data on Wednesday, June 3rd. The company reported ($0.33) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.38) by $0.05. C3.ai had a negative return on equity of 62.44% and a negative net margin of 187.95%.The company had revenue of $51.60 million during the quarter, compared to analysts’ expectations of $51.60 million. During the same period last year, the firm earned ($0.16) EPS. The firm’s revenue for the quarter was down 52.5% on a year-over-year basis. Sell-side analysts anticipate that C3.ai, Inc. will post -2.28 earnings per share for the current year.

Wall Street Analyst Weigh In

AI has been the topic of several recent research reports. KeyCorp reissued an “underweight” rating on shares of C3.ai in a research note on Thursday, June 4th. Weiss Ratings upgraded shares of C3.ai from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, August 4th. Citizens Jmp reaffirmed a “market perform” rating on shares of C3.ai in a report on Thursday, June 4th. Morgan Stanley boosted their price target on shares of C3.ai from $6.00 to $7.00 and gave the stock an “underweight” rating in a research note on Thursday, June 4th. Finally, DA Davidson reaffirmed an “underperform” rating and issued a $7.00 price objective on shares of C3.ai in a report on Thursday, June 4th. One analyst has rated the stock with a Buy rating, four have assigned a Hold rating and six have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Reduce” and an average target price of $10.09.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE increased its holdings in C3.ai by 55.1% during 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 acquiring an additional 1,166,302 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of C3.ai by 77.1% in the third 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 during the last quarter. Two Sigma Investments LP acquired a new position in shares of C3.ai in the third quarter valued at approximately $13,379,000. Voloridge Investment Management LLC purchased a new position in shares of C3.ai during the 4th quarter worth $9,183,000. Finally, Federated Hermes Inc. boosted its holdings in shares of C3.ai by 93,578.8% during the fourth quarter. Federated Hermes Inc. now owns 675,424 shares of the company’s stock worth $9,105,000 after purchasing an additional 674,703 shares during the last quarter. 38.96% of the stock is owned by hedge funds and other institutional investors.

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.