C3.ai (NYSE:AI) CEO Thomas Siebel Sells 453,314 Shares

C3.ai, Inc. (NYSE:AI) CEO Thomas Siebel sold 453,314 shares of C3.ai stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $10.51, for a total transaction of $4,764,330.14. Following the transaction, the chief executive officer directly owned 722,362 shares in the company, valued at approximately $7,592,024.62. The trade was a 38.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

C3.ai Stock Up 0.7%

Shares of NYSE:AI opened at $10.15 on Friday. The firm has a 50 day moving average of $9.54 and a 200 day moving average of $9.56. The company has a market capitalization of $1.58 billion, a price-to-earnings ratio of -3.04 and a beta of 2.08. C3.ai, Inc. has a 52 week low of $7.68 and a 52 week high of $20.22.

C3.ai (NYSE:AI) last announced its earnings results on Wednesday, June 3rd. The company reported ($0.33) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.38) by $0.05. C3.ai had a negative return on equity of 62.44% and a negative net margin of 187.95%.The business had revenue of $51.60 million for the quarter, compared to analysts’ expectations of $51.60 million. During the same quarter last year, the firm earned ($0.16) EPS. The business’s revenue for the quarter was down 52.5% on a year-over-year basis. On average, sell-side analysts expect that C3.ai, Inc. will post -2.28 EPS for the current year.

Analyst Ratings Changes

Several research firms have issued reports on AI. Needham & Company LLC reiterated a “hold” rating on shares of C3.ai in a research note on Thursday, June 4th. Citizens Jmp reissued a “market perform” rating on shares of C3.ai in a research report on Thursday, June 4th. Wedbush restated an “outperform” rating and issued a $15.00 price target on shares of C3.ai in a report on Thursday, June 4th. Canaccord Genuity Group lifted their price objective on shares of C3.ai from $8.00 to $10.00 and gave the stock a “hold” rating in a research report on Thursday, June 4th. Finally, DA Davidson reiterated an “underperform” rating and set a $7.00 price objective on shares of C3.ai in a research note on Thursday, June 4th. One investment analyst has rated the stock with a Buy rating, four have given a Hold rating and six have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus target price of $10.09.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. NewEdge Advisors LLC raised its stake in C3.ai by 48.7% in the first quarter. NewEdge Advisors LLC now owns 2,442 shares of the company’s stock valued at $51,000 after buying an additional 800 shares during the last quarter. Parallel Advisors LLC increased its holdings in shares of C3.ai by 76.4% during the third quarter. Parallel Advisors LLC now owns 1,849 shares of the company’s stock valued at $32,000 after acquiring an additional 801 shares in the last quarter. BOKF NA increased its holdings in shares of C3.ai by 20.7% during the third quarter. BOKF NA now owns 4,709 shares of the company’s stock valued at $82,000 after acquiring an additional 809 shares in the last quarter. Farther Finance Advisors LLC raised its position in shares of C3.ai by 66.1% in the 4th quarter. Farther Finance Advisors LLC now owns 2,141 shares of the company’s stock valued at $29,000 after purchasing an additional 852 shares during the last quarter. Finally, Geneos Wealth Management Inc. raised its position in shares of C3.ai by 29.6% in the 4th quarter. Geneos Wealth Management Inc. now owns 4,373 shares of the company’s stock valued at $59,000 after purchasing an additional 1,000 shares during the last quarter. 38.96% of the stock is currently owned by hedge funds and other institutional investors.

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.