C3.ai (NYSE:AI) CEO Thomas Siebel Sells 282,001 Shares

C3.ai, Inc. (NYSE:AI) CEO Thomas Siebel sold 282,001 shares of the business’s stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $10.90, for a total value of $3,073,810.90. Following the completion of the transaction, the chief executive officer directly owned 722,362 shares in the company, valued at approximately $7,873,745.80. The trade was a 28.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

C3.ai Price Performance

Shares of NYSE AI opened at $10.78 on Friday. The stock has a fifty day moving average price of $9.83 and a 200 day moving average price of $9.47. C3.ai, Inc. has a 1-year low of $7.68 and a 1-year high of $20.22. The company has a market cap of $1.67 billion, a PE ratio of -3.50 and a beta of 2.10.

C3.ai (NYSE:AI) last announced its quarterly earnings data on Wednesday, September 2nd. The company reported ($0.20) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.26) by $0.06. The company had revenue of $52.38 million for the quarter, compared to analysts’ expectations of $52.06 million. C3.ai had a negative net margin of 192.10% and a negative return on equity of 61.25%. C3.ai’s revenue was down 25.4% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.37) EPS. Analysts anticipate that C3.ai, Inc. will post -2.22 earnings per share for the current fiscal year.

Hedge Funds Weigh In On C3.ai

Several hedge funds and other institutional investors have recently bought and sold shares of AI. Bank of America Corp DE lifted its stake in shares of C3.ai by 55.1% during 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 buying an additional 1,166,302 shares during the period. First Trust Advisors LP grew its stake in C3.ai by 67.3% in the 1st quarter. First Trust Advisors LP now owns 1,215,341 shares of the company’s stock worth $10,233,000 after acquiring an additional 488,710 shares during the period. Edgestream Partners L.P. raised its holdings in C3.ai by 247.5% in the 1st quarter. Edgestream Partners L.P. now owns 658,573 shares of the company’s stock valued at $5,545,000 after acquiring an additional 469,057 shares during the last quarter. EVR Research LP raised its holdings in C3.ai by 223.8% in the 4th quarter. EVR Research LP now owns 600,400 shares of the company’s stock valued at $8,093,000 after acquiring an additional 415,000 shares during the last quarter. Finally, Zweig DiMenna Associates LLC purchased a new position in shares of C3.ai during the 1st quarter worth $2,686,000. 38.96% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on AI shares. Wall Street Zen raised C3.ai from a “sell” rating to a “hold” rating in a report on Sunday, September 13th. KeyCorp reaffirmed an “underweight” rating on shares of C3.ai in a report on Thursday, June 4th. Morgan Stanley raised their target price on C3.ai from $6.00 to $7.00 and gave the company an “underweight” rating in a report on Thursday, June 4th. Needham & Company LLC restated a “hold” rating on shares of C3.ai in a research report on Thursday, September 3rd. Finally, Citizens Jmp reiterated a “market perform” rating on shares of C3.ai in a report on Thursday, September 3rd. One investment analyst has rated the stock with a Buy rating, four have given a Hold rating and seven have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, C3.ai currently has an average rating of “Reduce” and a consensus target price of $8.70.

About C3.ai

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.