C3.ai (NYSE:AI) Chairman Sells $4,185,643.28 in Stock

C3.ai, Inc. (NYSE:AI) Chairman Thomas Siebel sold 309,589 shares of the stock in a transaction on Tuesday, January 13th. The stock was sold at an average price of $13.52, for a total value of $4,185,643.28. Following the sale, the chairman directly owned 632,256 shares of the company’s stock, valued at approximately $8,548,101.12. This represents a 32.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

C3.ai Stock Performance

AI traded down $0.40 during trading on Thursday, hitting $13.52. The stock had a trading volume of 4,663,901 shares, compared to its average volume of 6,204,365. The firm has a market capitalization of $1.90 billion, a P/E ratio of -4.78 and a beta of 1.97. C3.ai, Inc. has a twelve month low of $12.59 and a twelve month high of $35.98. The company’s 50-day moving average price is $14.33 and its 200 day moving average price is $18.12.

C3.ai (NYSE:AI) last issued its earnings results on Wednesday, December 3rd. The company reported ($0.25) earnings per share 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 business had revenue of $75.15 million for the quarter, compared to the consensus estimate of $74.86 million. During the same quarter in the previous year, the firm earned ($0.06) earnings per share. The business’s quarterly revenue was down 20.3% compared to the same quarter last year. As a group, equities analysts expect that C3.ai, Inc. will post -2.44 earnings per share for the current fiscal year.

Institutional Trading of C3.ai

Several large investors have recently modified their holdings of the business. Bogart Wealth LLC raised its position in shares of C3.ai by 22.7% during the 2nd quarter. Bogart Wealth LLC now owns 2,700 shares of the company’s stock worth $66,000 after purchasing an additional 500 shares during the last quarter. ProShare Advisors LLC grew its holdings in C3.ai by 2.4% during the 2nd quarter. ProShare Advisors LLC now owns 25,548 shares of the company’s stock valued at $628,000 after buying an additional 593 shares during the last quarter. Moors & Cabot Inc. increased its position in C3.ai by 5.2% during the second quarter. Moors & Cabot Inc. now owns 14,263 shares of the company’s stock worth $350,000 after buying an additional 700 shares in the last quarter. Ameritas Investment Partners Inc. raised its holdings in shares of C3.ai by 6.8% in the second quarter. Ameritas Investment Partners Inc. now owns 12,365 shares of the company’s stock worth $304,000 after acquiring an additional 791 shares during the last quarter. Finally, NewEdge Advisors LLC lifted its position in shares of C3.ai by 48.7% in the first quarter. NewEdge Advisors LLC now owns 2,442 shares of the company’s stock valued at $51,000 after acquiring an additional 800 shares in the last quarter. 38.96% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on AI shares. Weiss Ratings reissued a “sell (d-)” rating on shares of C3.ai in a research note on Wednesday, October 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of C3.ai in a report on Thursday, December 4th. DA Davidson reissued an “underperform” rating and issued a $13.00 target price on shares of C3.ai in a report on Thursday, December 4th. Wedbush restated an “outperform” rating and set a $20.00 target price on shares of C3.ai in a research report on Thursday, December 4th. Finally, Canaccord Genuity Group reaffirmed a “hold” rating and set a $16.00 price target on shares of C3.ai in a research note on Thursday, December 4th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, seven have assigned a Hold rating and five have given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Reduce” and an average price target of $21.92.

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.