C3.ai (NYSE:AI) Sets New 1-Year Low on Insider Selling

C3.ai, Inc. (NYSE:AI) reached a new 52-week low during mid-day trading on Wednesday after an insider sold shares in the company. The stock traded as low as $10.19 and last traded at $10.7340, with a volume of 9367046 shares traded. The stock had previously closed at $10.92.

Specifically, Chairman Thomas M. Siebel sold 27,605 shares of the firm’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $10.81, for a total value of $298,410.05. Following the completion of the transaction, the chairman directly owned 747,882 shares of the company’s stock, valued at approximately $8,084,604.42. This trade represents a 3.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Analyst Ratings Changes

Several equities research analysts have issued reports on AI shares. Weiss Ratings restated a “sell (d-)” rating on shares of C3.ai in a research report on Wednesday, January 21st. Needham & Company LLC reiterated a “hold” rating on shares of C3.ai in a research note on Thursday, December 4th. Wedbush restated an “outperform” rating and issued a $20.00 target price on shares of C3.ai in a research note on Thursday, December 4th. Oppenheimer set a $10.00 price target on C3.ai in a research report on Friday, January 30th. Finally, DA Davidson reissued an “underperform” rating and issued a $13.00 price target on shares of C3.ai in a report on Thursday, December 4th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, six have given a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat.com, C3.ai presently has an average rating of “Reduce” and a consensus target price of $19.00.

C3.ai Trading Up 3.3%

The stock’s fifty day moving average price is $13.75 and its 200 day moving average price is $16.64. The stock has a market cap of $1.56 billion, a P/E ratio of -3.92 and a beta of 1.98.

C3.ai (NYSE:AI) last posted its quarterly earnings data on Wednesday, December 3rd. The company reported ($0.25) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.08. The company had revenue of $75.15 million during the quarter, compared to the consensus estimate of $74.86 million. C3.ai had a negative net margin of 108.06% and a negative return on equity of 46.51%. The firm’s revenue was down 20.3% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.06) EPS. On average, analysts anticipate that C3.ai, Inc. will post -2.44 earnings per share for the current year.

Hedge Funds Weigh In On C3.ai

A number of hedge funds and other institutional investors have recently modified their holdings of AI. Vanguard Group Inc. raised its holdings in shares of C3.ai by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 14,469,953 shares of the company’s stock valued at $195,055,000 after buying an additional 108,011 shares in the last quarter. State Street Corp grew its position in C3.ai by 4.3% during the second quarter. State Street Corp now owns 2,826,249 shares of the company’s stock valued at $69,441,000 after acquiring an additional 116,611 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of C3.ai by 5.9% during the second quarter. Geode Capital Management LLC now owns 2,813,233 shares of the company’s stock worth $69,129,000 after acquiring an additional 156,925 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of C3.ai by 9.6% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,425,976 shares of the company’s stock worth $42,066,000 after acquiring an additional 211,786 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of C3.ai by 77.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,804,188 shares of the company’s stock worth $31,284,000 after acquiring an additional 785,508 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.