C3.ai (NYSE:AI) CEO Thomas Siebel Sells 369,624 Shares

C3.ai, Inc. (NYSE:AI) CEO Thomas Siebel sold 369,624 shares of the company’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $8.72, for a total value of $3,223,121.28. Following the transaction, the chief executive officer directly owned 722,362 shares in the company, valued at $6,298,996.64. This represents a 33.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

C3.ai Price Performance

Shares of AI stock opened at $8.84 on Wednesday. The business’s fifty day moving average price is $8.83 and its 200 day moving average price is $11.61. C3.ai, Inc. has a 1-year low of $7.68 and a 1-year high of $30.24. The firm has a market capitalization of $1.28 billion, a PE ratio of -2.80 and a beta of 2.00.

C3.ai (NYSE:AI) last issued 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). C3.ai had a negative return on equity of 55.40% and a negative net margin of 141.35%.The company had revenue of $53.26 million for the quarter, compared to analyst estimates of $75.91 million. During the same quarter in the previous year, the company posted ($0.12) earnings per share. The company’s quarterly revenue was down 46.1% compared to the same quarter last year. Equities research analysts expect that C3.ai, Inc. will post -3.22 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on AI. UBS Group restated a “reduce” rating on shares of C3.ai in a research report on Thursday, February 26th. BMO Capital Markets set a $7.00 target price on C3.ai in a report on Thursday, February 26th. Bank of America set a $10.00 target price on C3.ai in a report on Friday, January 30th. JPMorgan Chase & Co. lowered their target price on C3.ai from $10.00 to $7.00 and set an “underweight” rating on the stock in a report on Thursday, February 26th. Finally, Citizens Jmp lowered C3.ai from an “outperform” rating to a “market perform” rating in a report on Thursday, February 26th. One investment 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 issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Reduce” and an average target price of $15.93.

Institutional Trading of C3.ai

Several large investors have recently modified their holdings of AI. Bank of America Corp DE grew its position in shares of C3.ai by 55.1% in the first quarter. Bank of America Corp DE now owns 3,282,183 shares of the company’s stock valued at $27,636,000 after purchasing an additional 1,166,302 shares during the last quarter. Dimensional Fund Advisors LP grew 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 purchasing an additional 785,508 shares during the last quarter. Two Sigma Investments LP acquired a new stake in shares of C3.ai during the third quarter valued at $13,379,000. Voloridge Investment Management LLC acquired a new stake in shares of C3.ai during the fourth quarter valued at $9,183,000. Finally, Federated Hermes Inc. boosted its stake 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 valued at $9,105,000 after acquiring an additional 674,703 shares during the last quarter. 38.96% of the stock is currently owned by institutional investors and hedge funds.

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.