C3.ai (NYSE:AI) Rating Lowered to “Sell” at Wall Street Zen

C3.ai (NYSE:AI) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

Several other research analysts also recently commented on AI. Needham & Company LLC reissued a “hold” rating on shares of C3.ai in a report on Thursday, September 3rd. Citizens Jmp reaffirmed a “market perform” rating on shares of C3.ai in a report on Tuesday, September 29th. Citigroup reiterated a “market perform” rating on shares of C3.ai in a research report on Thursday, September 3rd. UBS Group reissued an “underperform” rating on shares of C3.ai in a research note on Tuesday, September 1st. Finally, Weiss Ratings upgraded C3.ai from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, August 4th. One analyst has rated the stock with a Buy rating, four have given a Hold rating and seven have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average price target of $8.70.

C3.ai Stock Up 0.0%

AI stock opened at $11.01 on Friday. The stock has a 50-day simple moving average of $10.27 and a two-hundred day simple moving average of $9.60. C3.ai has a twelve month low of $7.68 and a twelve month high of $20.22. The firm has a market capitalization of $1.77 billion, a PE ratio of -3.58 and a beta of 2.11.

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

Insider Buying and Selling

In other news, CEO Thomas M. Siebel sold 453,314 shares of C3.ai stock in a transaction 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 completion of the sale, the chief executive officer directly owned 722,362 shares of the company’s stock, valued at approximately $7,592,024.62. The trade was a 38.56% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Hitesh Lath sold 21,077 shares of the company’s stock in a transaction on Wednesday, September 16th. The stock was sold at an average price of $10.48, for a total transaction of $220,886.96. Following the completion of the transaction, the chief financial officer owned 371,036 shares of the company’s stock, valued at $3,888,457.28. This trade represents a 5.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 1,117,809 shares of company stock valued at $11,724,230. Corporate insiders own 19.80% of the company’s stock.

Institutional Investors Weigh In On C3.ai

A number of large investors have recently added to or reduced their stakes in the company. Arizona State Retirement System grew its position in C3.ai by 3.7% during the second quarter. Arizona State Retirement System now owns 37,168 shares of the company’s stock valued at $338,000 after acquiring an additional 1,310 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its stake in shares of C3.ai by 12.7% during the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 13,776 shares of the company’s stock worth $116,000 after acquiring an additional 1,548 shares in the last quarter. CoreCap Advisors LLC lifted its holdings in shares of C3.ai by 34.0% in the 2nd quarter. CoreCap Advisors LLC now owns 6,145 shares of the company’s stock worth $56,000 after acquiring an additional 1,560 shares during the last quarter. Western Wealth Management LLC purchased a new stake in shares of C3.ai in the 1st quarter valued at $26,000. Finally, Allworth Financial LP boosted its stake in shares of 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 purchasing an additional 3,185 shares in the last quarter. Hedge funds and other institutional investors own 38.96% of the company’s stock.

C3.ai Company Profile

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.