C3.ai (NYSE:AI) CEO Thomas Siebel Sells 369,624 Shares

C3.ai, Inc. (NYSE:AI) CEO Thomas Siebel sold 369,624 shares of the company’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $8.72, for a total value of $3,223,121.28. Following the completion of the transaction, the chief executive officer owned 722,362 shares in the company, valued at $6,298,996.64. This represents a 33.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

C3.ai Stock Up 1.0%

Shares of AI traded up $0.09 during trading hours on Tuesday, reaching $8.84. The company’s stock had a trading volume of 3,879,723 shares, compared to its average volume of 6,078,713. The firm has a market cap of $1.28 billion, a price-to-earnings ratio of -2.80 and a beta of 2.00. C3.ai, Inc. has a 1-year low of $7.68 and a 1-year high of $30.24. The company has a 50 day moving average of $8.83 and a two-hundred day moving average of $11.67.

C3.ai (NYSE:AI) last issued its earnings results on Wednesday, February 25th. The company reported ($0.40) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.11). The business had revenue of $53.26 million during 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% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.12) EPS. As a group, analysts forecast that C3.ai, Inc. will post -3.22 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Bank of America Corp DE raised its stake in C3.ai by 55.1% during the first quarter. Bank of America Corp DE now owns 3,282,183 shares of the company’s stock worth $27,636,000 after acquiring an additional 1,166,302 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in C3.ai by 77.1% during the third 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 in the last quarter. Two Sigma Investments LP acquired a new position in C3.ai during the third quarter worth $13,379,000. Voloridge Investment Management LLC acquired a new position in C3.ai during the fourth quarter worth $9,183,000. Finally, Federated Hermes Inc. raised its stake in C3.ai by 93,578.8% during the fourth quarter. Federated Hermes Inc. now owns 675,424 shares of the company’s stock worth $9,105,000 after acquiring an additional 674,703 shares in the last quarter. 38.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. DA Davidson reissued an “underperform” rating and issued a $7.00 price objective on shares of C3.ai in a research report on Wednesday, May 13th. Bank of America set a $10.00 price objective on C3.ai in a research report on Friday, January 30th. BMO Capital Markets set a $7.00 price objective on C3.ai in a research report on Thursday, February 26th. Wedbush reissued an “outperform” rating and issued a $15.00 price objective on shares of C3.ai in a research report on Wednesday, May 13th. Finally, Wolfe Research reissued an “underperform” rating and issued a $6.00 price objective on shares of C3.ai in a research report on Thursday, February 26th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, seven have issued a Hold rating and six have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus price target of $15.93.

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.