C3.ai (NYSE:AI) CEO Thomas Siebel Sells 22,780 Shares of Stock

C3.ai, Inc. (NYSE:AI) CEO Thomas Siebel sold 22,780 shares of the business’s stock in a transaction on Monday, September 14th. The shares were sold at an average price of $10.56, for a total value of $240,556.80. Following the sale, the chief executive officer owned 744,348 shares in the company, valued at approximately $7,860,314.88. The trade was a 2.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

C3.ai Stock Performance

Shares of AI opened at $10.82 on Wednesday. The stock’s 50-day simple moving average is $9.76 and its 200 day simple moving average is $9.44. The stock has a market capitalization of $1.68 billion, a price-to-earnings ratio of -3.51 and a beta of 2.10. C3.ai, Inc. has a 52-week low of $7.68 and a 52-week high of $20.22.

C3.ai (NYSE:AI) last issued its earnings results on Wednesday, September 2nd. The company reported ($0.20) EPS for the quarter, topping the consensus estimate of ($0.26) by $0.06. C3.ai had a negative return on equity of 61.25% and a negative net margin of 192.10%.The business had revenue of $52.38 million during the quarter, compared to the consensus estimate of $52.06 million. During the same quarter last year, the company earned ($0.37) EPS. The firm’s revenue was down 25.4% compared to the same quarter last year. On average, research analysts forecast that C3.ai, Inc. will post -2.22 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

AI has been the topic of several recent analyst reports. Needham & Company LLC reiterated a “hold” rating on shares of C3.ai in a research note on Thursday, September 3rd. Wedbush restated an “outperform” rating and set a $15.00 price target on shares of C3.ai in a research report on Thursday, June 4th. Citigroup restated a “market perform” rating on shares of C3.ai in a research report on Thursday, September 3rd. Weiss Ratings raised shares of C3.ai from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, August 4th. Finally, Canaccord Genuity Group reissued a “hold” rating and set a $10.00 price objective on shares of C3.ai in a research note on Thursday, September 3rd. One investment analyst has rated the stock with a Buy rating, four have assigned a Hold rating and seven have issued a Sell rating to the company’s stock. According to MarketBeat, C3.ai has an average rating of “Reduce” and an average price target of $8.70.

Hedge Funds Weigh In On C3.ai

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of America Corp DE grew its position in 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 worth $27,636,000 after acquiring an additional 1,166,302 shares in the last quarter. First Trust Advisors LP lifted its stake in C3.ai by 67.3% during the first quarter. First Trust Advisors LP now owns 1,215,341 shares of the company’s stock worth $10,233,000 after purchasing an additional 488,710 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in C3.ai by 0.8% during the first quarter. Bank of New York Mellon Corp now owns 690,694 shares of the company’s stock worth $5,816,000 after purchasing an additional 5,631 shares during the last quarter. Edgestream Partners L.P. boosted its holdings in shares of C3.ai by 247.5% in the 1st quarter. Edgestream Partners L.P. now owns 658,573 shares of the company’s stock worth $5,545,000 after purchasing an additional 469,057 shares in the last quarter. Finally, EVR Research LP increased its position in shares of C3.ai by 223.8% during the 4th quarter. EVR Research LP now owns 600,400 shares of the company’s stock valued at $8,093,000 after purchasing an additional 415,000 shares during the last quarter. Hedge funds and other institutional investors own 38.96% of the company’s stock.

C3.ai Company Profile

C3.ai, Inc develops enterprise artificial intelligence software and applications for organizations in a range of industries. Its technology is designed to help businesses use data, machine learning and predictive analytics to address operational, financial and strategic challenges.

The company’s offerings include the C3 AI Platform, which provides tools for developing, deploying and operating AI applications, as well as prebuilt applications for use cases such as predictive maintenance, fraud detection, supply-chain optimization, customer engagement, energy management and regulatory compliance.