Insider Selling: C3.ai (NYSE:AI) CEO Sells 112,014 Shares of Stock

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

C3.ai Stock Up 1.0%

AI stock traded up $0.09 during trading on Tuesday, reaching $8.84. 3,879,723 shares of the company’s stock were exchanged, compared to its average volume of 6,078,713. C3.ai, Inc. has a 1-year low of $7.68 and a 1-year high of $30.24. The company’s fifty day moving average price is $8.83 and its 200-day moving average price is $11.67. The firm has a market cap of $1.28 billion, a PE ratio of -2.80 and a beta of 2.00.

C3.ai (NYSE:AI) last announced its quarterly earnings results on Wednesday, February 25th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.11). C3.ai had a negative return on equity of 55.40% and a negative net margin of 141.35%.The business had revenue of $53.26 million for the quarter, compared to analyst estimates of $75.91 million. During the same quarter last year, the firm posted ($0.12) EPS. The company’s revenue was down 46.1% compared to the same quarter last year. As a group, sell-side analysts expect that C3.ai, Inc. will post -3.22 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on AI shares. BMO Capital Markets set a $7.00 price target on C3.ai in a research report on Thursday, February 26th. UBS Group reiterated a “reduce” rating on shares of C3.ai in a research report on Thursday, February 26th. KeyCorp cut their price objective on C3.ai from $10.00 to $6.00 and set an “underweight” rating for the company in a report 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 for the company in a report on Thursday, February 26th. Finally, Wedbush restated an “outperform” rating and issued a $15.00 price objective on shares of C3.ai in a report on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, seven have assigned a Hold rating and six have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Reduce” and an average target price of $15.93.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Bank of America Corp DE boosted its stake in shares of 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 worth $27,636,000 after acquiring an additional 1,166,302 shares in the last quarter. Edgestream Partners L.P. boosted its stake in shares of C3.ai by 247.5% during the 1st quarter. Edgestream Partners L.P. now owns 658,573 shares of the company’s stock worth $5,545,000 after acquiring an additional 469,057 shares in the last quarter. California State Teachers Retirement System boosted its stake in shares of C3.ai by 39.0% during the 1st quarter. California State Teachers Retirement System now owns 168,943 shares of the company’s stock worth $1,422,000 after acquiring an additional 47,391 shares in the last quarter. Royal Bank of Canada boosted its stake in shares of C3.ai by 418.7% during the 1st quarter. Royal Bank of Canada now owns 177,527 shares of the company’s stock worth $1,495,000 after acquiring an additional 143,303 shares in the last quarter. Finally, Quantinno Capital Management LP boosted its stake in shares of C3.ai by 3.8% during the 1st quarter. Quantinno Capital Management LP now owns 109,248 shares of the company’s stock worth $920,000 after acquiring an additional 3,995 shares in the last quarter. 38.96% of the stock is owned by institutional investors and hedge funds.

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.