C3.ai (NYSE:AI) Chairman Sells $298,410.05 in Stock

C3.ai, Inc. (NYSE:AI) Chairman Thomas Siebel sold 27,605 shares of the business’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 transaction, the chairman 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

C3.ai Price Performance

Shares of NYSE:AI opened at $10.17 on Friday. The company has a market capitalization of $1.43 billion, a P/E ratio of -3.59 and a beta of 1.98. C3.ai, Inc. has a 1-year low of $9.99 and a 1-year high of $35.98. The firm’s 50 day simple moving average is $13.67 and its two-hundred day simple moving average is $16.59.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in C3.ai by 171.9% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 129,797 shares of the company’s stock worth $1,785,000 after purchasing an additional 82,065 shares during the last quarter. Comerica Bank grew its stake in shares of C3.ai by 839.1% in the 4th quarter. Comerica Bank now owns 2,423 shares of the company’s stock worth $33,000 after buying an additional 2,165 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of C3.ai by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 14,469,953 shares of the company’s stock worth $195,055,000 after buying an additional 108,011 shares in the last quarter. Geneos Wealth Management Inc. increased its holdings 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 worth $59,000 after buying an additional 1,000 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH raised its position in shares of C3.ai by 20.7% during the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 12,798 shares of the company’s stock valued at $173,000 after buying an additional 2,194 shares in the last quarter. 38.96% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on AI. Oppenheimer set a $10.00 target price on C3.ai in a research report on Friday, January 30th. DA Davidson restated an “underperform” rating and issued a $13.00 price target on shares of C3.ai in a research note on Thursday, December 4th. Weiss Ratings reiterated a “sell (d-)” rating on shares of C3.ai in a research report on Wednesday, January 21st. Needham & Company LLC reissued a “hold” rating on shares of C3.ai in a report on Thursday, December 4th. Finally, Canaccord Genuity Group reaffirmed a “hold” rating and set a $16.00 target price on shares of C3.ai in a research note on Thursday, December 4th. One equities research 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average target price of $19.00.

C3.ai Company Profile

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.