C3.ai (NYSE:AI) CEO Sells $5,145,990.66 in Stock

C3.ai, Inc. (NYSE:AI) CEO Thomas Siebel sold 435,363 shares of the stock in a transaction dated Tuesday, October 13th. The stock was sold at an average price of $11.82, for a total transaction of $5,145,990.66. Following the completion of the transaction, the chief executive officer directly owned 722,362 shares of the company’s stock, valued at $8,538,318.84. This trade represents a 37.61% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

C3.ai Stock Down 6.9%

AI stock opened at $11.32 on Friday. The business has a fifty day moving average price of $10.69 and a 200 day moving average price of $9.81. C3.ai, Inc. has a fifty-two week low of $7.68 and a fifty-two week high of $18.79.

C3.ai (NYSE:AI) last announced its earnings results on Wednesday, September 2nd. The company reported ($0.20) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.06. The company had revenue of $52.38 million during the quarter, compared to analyst estimates of $52.06 million. C3.ai had a negative return on equity of 61.25% and a negative net margin of 192.10%. The firm’s quarterly revenue was down 25.4% compared to the same quarter last year. During the same period last year, the company posted ($0.37) earnings per share. Equities analysts anticipate that C3.ai, Inc. will post -2.21 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Weiss Ratings raised C3.ai from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, August 4th. Needham & Company LLC restated a “hold” rating on shares of C3.ai in a research note on Thursday, September 3rd. UBS Group reiterated an “underperform” rating on shares of C3.ai in a research report on Tuesday, September 1st. DA Davidson reissued an “underperform” rating and issued a $7.00 price objective on shares of C3.ai in a research note on Tuesday, September 1st. Finally, Citigroup reissued a “market perform” rating on shares of C3.ai in a research note on Thursday, September 3rd. Two analysts have rated the stock with a Buy rating, four have assigned a Hold rating and seven have issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Reduce” and an average target price of $9.36.

Hedge Funds Weigh In On C3.ai

A number of large investors have recently modified their holdings of the company. Forum Financial Management LP boosted its holdings in C3.ai by 35.8% during the third quarter. Forum Financial Management LP now owns 15,659 shares of the company’s stock worth $172,000 after purchasing an additional 4,128 shares during the last quarter. Vontobel Holding Ltd. increased its position in shares of C3.ai by 110.8% during the 3rd quarter. Vontobel Holding Ltd. now owns 85,774 shares of the company’s stock valued at $943,000 after purchasing an additional 45,075 shares during the last quarter. Sequoia Financial Advisors LLC purchased a new stake in shares of C3.ai during the 2nd quarter valued at $106,000. Engineers Gate Manager LP purchased a new position in C3.ai in the second quarter valued at approximately $2,855,000. Finally, Allworth Financial LP raised its stake in C3.ai by 13.6% in the 2nd quarter. Allworth Financial LP now owns 26,660 shares of the company’s stock valued at $242,000 after acquiring an additional 3,185 shares during the period. 38.96% of the stock is currently owned by institutional investors.

About C3.ai

C3.ai, Inc is an enterprise artificial intelligence software company that develops applications and tools designed to help organizations use AI and machine learning to analyze data, automate processes and support business decision-making. The company’s offerings are intended for large commercial enterprises, government agencies and other organizations managing complex operational and data environments.

Its product portfolio includes the C3 AI Platform, which provides capabilities for developing, deploying and operating AI applications, as well as prebuilt enterprise applications.