Thomas Siebel Sells 23,435 Shares of C3.ai (NYSE:AI) Stock

C3.ai, Inc. (NYSE:AI) Chairman Thomas Siebel sold 23,435 shares of C3.ai stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $9.11, for a total value of $213,492.85. Following the completion of the transaction, the chairman owned 743,693 shares in the company, valued at approximately $6,775,043.23. This represents a 3.05% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

C3.ai Trading Up 0.4%

Shares of NYSE AI opened at $8.91 on Friday. The company has a market cap of $1.25 billion, a price-to-earnings ratio of -2.83 and a beta of 2.05. C3.ai, Inc. has a 12 month low of $7.72 and a 12 month high of $30.24. The stock has a 50-day moving average price of $11.27 and a two-hundred day moving average price of $14.44.

C3.ai (NYSE:AI) last posted its quarterly earnings results on Wednesday, February 25th. The company reported ($0.40) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.11). The company 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 53.96%. The company’s revenue for the quarter was down 46.1% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.12) earnings per share. On average, sell-side analysts predict that C3.ai, Inc. will post -2.44 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on AI shares. Citizens Jmp cut shares of C3.ai from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 26th. BMO Capital Markets set a $7.00 price target on C3.ai in a research note on Thursday, February 26th. JPMorgan Chase & Co. cut their price objective on C3.ai from $10.00 to $7.00 and set an “underweight” rating on the stock in a report on Thursday, February 26th. KeyCorp reduced their price objective on C3.ai from $10.00 to $6.00 and set an “underweight” rating on the stock in a research report on Thursday, February 26th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of C3.ai in a report on Thursday, December 4th. 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, C3.ai presently has an average rating of “Reduce” and an average target price of $15.87.

Hedge Funds Weigh In On C3.ai

Several large investors have recently modified their holdings of the business. Silicon Valley Capital Partners acquired a new position in shares of C3.ai during the second quarter worth $25,000. Larson Financial Group LLC increased its holdings in C3.ai by 683.6% in the third quarter. Larson Financial Group LLC now owns 1,481 shares of the company’s stock valued at $26,000 after purchasing an additional 1,292 shares during the period. Parallel Advisors LLC raised its position 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 purchasing an additional 801 shares during the last quarter. Financial Consulate Inc. bought a new position in C3.ai during the 3rd quarter worth $36,000. Finally, Farther Finance Advisors LLC lifted its holdings in C3.ai by 66.1% during the 4th quarter. Farther Finance Advisors LLC now owns 2,141 shares of the company’s stock worth $29,000 after buying an additional 852 shares during the period. Institutional investors own 38.96% of the company’s stock.

About C3.ai

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.