C3.ai (NYSE:AI) Chairman Thomas Siebel Sells 282,203 Shares

C3.ai, Inc. (NYSE:AI) Chairman Thomas Siebel sold 282,203 shares of the business’s stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $8.86, for a total transaction of $2,500,318.58. Following the sale, the chairman owned 722,362 shares in the company, valued at $6,400,127.32. This represents a 28.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

C3.ai Price Performance

C3.ai stock traded up $0.06 during midday trading on Thursday, reaching $8.67. The stock had a trading volume of 3,633,634 shares, compared to its average volume of 7,187,574. C3.ai, Inc. has a twelve month low of $7.72 and a twelve month high of $30.24. The firm has a market cap of $1.22 billion, a price-to-earnings ratio of -2.75 and a beta of 2.05. The firm’s fifty day simple moving average is $10.96 and its two-hundred day simple moving average is $14.26.

C3.ai (NYSE:AI) last announced its earnings results on Wednesday, February 25th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.29) by ($0.11). The firm had revenue of $53.26 million for the quarter, compared to analyst estimates of $75.91 million. C3.ai had a negative net margin of 141.35% and a negative return on equity of 55.40%. C3.ai’s revenue for the quarter was down 46.1% compared to the same quarter last year. During the same period last year, the firm earned ($0.12) earnings per share. As a group, sell-side analysts predict that C3.ai, Inc. will post -2.44 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. BMO Capital Markets set a $7.00 target price on C3.ai in a research note on Thursday, February 26th. Wedbush decreased their price target on shares of C3.ai from $20.00 to $15.00 and set an “outperform” rating for the company in a report on Thursday, February 26th. UBS Group reaffirmed a “reduce” rating on shares of C3.ai in a research report on Thursday, February 26th. DA Davidson dropped their price objective on shares of C3.ai from $13.00 to $7.00 and set an “underperform” rating on the stock in a research note on Thursday, February 26th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of C3.ai in a research report on Thursday, December 4th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, seven have given a Hold rating and six have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus price target of $15.87.

Institutional Trading of C3.ai

Several large investors have recently added to or reduced their stakes in the business. Silicon Valley Capital Partners bought a new position in shares of C3.ai during the 2nd quarter valued at $25,000. Larson Financial Group LLC increased its position in C3.ai by 683.6% during the third quarter. Larson Financial Group LLC now owns 1,481 shares of the company’s stock worth $26,000 after buying an additional 1,292 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in C3.ai by 66.1% during the fourth quarter. Farther Finance Advisors LLC now owns 2,141 shares of the company’s stock valued at $29,000 after buying an additional 852 shares in the last quarter. Parallel Advisors LLC lifted its position in shares of C3.ai by 76.4% in the third quarter. Parallel Advisors LLC now owns 1,849 shares of the company’s stock worth $32,000 after buying an additional 801 shares during the last quarter. Finally, Comerica Bank boosted its stake in shares of C3.ai by 839.1% during the 4th quarter. Comerica Bank now owns 2,423 shares of the company’s stock worth $33,000 after acquiring an additional 2,165 shares in the last quarter. 38.96% of the stock is owned by institutional investors.

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.