Thomas Siebel Sells 139,500 Shares of C3.ai (NYSE:AI) Stock

C3.ai, Inc. (NYSE:AI) CEO Thomas Siebel sold 139,500 shares of C3.ai stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $9.61, for a total transaction of $1,340,595.00. Following the transaction, the chief executive officer owned 866,196 shares of the company’s stock, valued at $8,324,143.56. The trade was a 13.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

C3.ai Stock Down 1.7%

AI stock opened at $9.88 on Thursday. C3.ai, Inc. has a twelve month low of $7.68 and a twelve month high of $23.68. The firm has a market cap of $1.54 billion, a PE ratio of -2.96 and a beta of 2.08. The business has a 50 day moving average of $9.62 and a 200 day moving average of $9.66.

C3.ai (NYSE:AI) last announced its quarterly earnings data on Wednesday, June 3rd. The company reported ($0.33) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.38) by $0.05. C3.ai had a negative return on equity of 62.44% and a negative net margin of 187.95%.The business had revenue of $51.60 million during the quarter, compared to analysts’ expectations of $51.60 million. During the same quarter in the previous year, the business earned ($0.16) earnings per share. The firm’s quarterly revenue was down 52.5% compared to the same quarter last year. On average, research analysts expect that C3.ai, Inc. will post -2.28 earnings per share for the current fiscal year.

Hedge Funds Weigh In On C3.ai

Hedge funds have recently bought and sold shares of the business. Larson Financial Group LLC boosted its holdings in shares of C3.ai by 683.6% during the 3rd quarter. Larson Financial Group LLC now owns 1,481 shares of the company’s stock valued at $26,000 after acquiring an additional 1,292 shares during the last quarter. Parallel Advisors LLC raised its holdings in shares of C3.ai by 76.4% during the third quarter. Parallel Advisors LLC now owns 1,849 shares of the company’s stock valued at $32,000 after purchasing an additional 801 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in shares of 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 purchasing an additional 852 shares during the last quarter. Comerica Bank lifted its position in C3.ai by 839.1% during the fourth quarter. Comerica Bank now owns 2,423 shares of the company’s stock valued at $33,000 after purchasing an additional 2,165 shares during the period. Finally, NewEdge Advisors LLC lifted its position in C3.ai by 48.7% during the first quarter. NewEdge Advisors LLC now owns 2,442 shares of the company’s stock valued at $51,000 after purchasing an additional 800 shares during the period. Hedge funds and other institutional investors own 38.96% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Weiss Ratings raised shares of C3.ai from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday. Citizens Jmp reiterated a “market perform” rating on shares of C3.ai in a research note on Thursday, June 4th. Morgan Stanley upped their target price on shares of C3.ai from $6.00 to $7.00 and gave the stock an “underweight” rating in a research note on Thursday, June 4th. KeyCorp reissued an “underweight” rating on shares of C3.ai in a research report on Thursday, June 4th. Finally, Wedbush restated an “outperform” rating and issued a $15.00 price objective on shares of C3.ai in a report on Thursday, June 4th. One investment analyst has rated the stock with a Buy rating, six have given a Hold rating and six have given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus target price of $10.67.

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.