C3.ai (NYSE:AI) CEO Thomas Siebel Sells 22,780 Shares of Stock

C3.ai, Inc. (NYSE:AI) CEO Thomas Siebel sold 22,780 shares of C3.ai stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $10.56, for a total value of $240,556.80. Following the sale, the chief executive officer directly owned 744,348 shares in the company, valued at approximately $7,860,314.88. This trade represents a 2.97% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

C3.ai Price Performance

Shares of NYSE AI traded down $0.35 during midday trading on Tuesday, hitting $10.82. 4,397,061 shares of the company’s stock were exchanged, compared to its average volume of 5,229,472. C3.ai, Inc. has a twelve month low of $7.68 and a twelve month high of $20.22. The firm has a market cap of $1.68 billion, a P/E ratio of -3.51 and a beta of 2.10. The stock’s 50 day moving average price is $9.76 and its 200-day moving average price is $9.44.

C3.ai (NYSE:AI) last posted its earnings results on Wednesday, September 2nd. The company reported ($0.20) EPS for the quarter, beating the consensus estimate of ($0.26) by $0.06. C3.ai had a negative return on equity of 61.25% and a negative net margin of 192.10%.The firm had revenue of $52.38 million for the quarter, compared to analysts’ expectations of $52.06 million. During the same period last year, the firm earned ($0.37) EPS. The firm’s revenue was down 25.4% compared to the same quarter last year. On average, analysts expect that C3.ai, Inc. will post -2.22 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on AI shares. Morgan Stanley increased their target price on shares of C3.ai from $6.00 to $7.00 and gave the company an “underweight” rating in a research report on Thursday, June 4th. UBS Group reiterated an “underperform” rating on shares of C3.ai in a research note on Tuesday, September 1st. Weiss Ratings raised C3.ai from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, August 4th. Canaccord Genuity Group reiterated a “hold” rating and issued a $10.00 price target on shares of C3.ai in a research report on Thursday, September 3rd. Finally, Wedbush restated an “outperform” rating and set a $15.00 price objective on shares of C3.ai in a research report on Thursday, June 4th. One analyst has rated the stock with a Buy rating, four have given a Hold rating and seven have given a Sell rating to the company’s stock. According to MarketBeat.com, C3.ai currently has an average rating of “Reduce” and an average target price of $8.70.

Institutional Trading of C3.ai

A number of hedge funds have recently bought and sold shares of AI. Bank of America Corp DE increased its position in shares of C3.ai by 55.1% in 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. First Trust Advisors LP boosted its stake in C3.ai by 67.3% in the 1st quarter. First Trust Advisors LP now owns 1,215,341 shares of the company’s stock worth $10,233,000 after purchasing an additional 488,710 shares during the period. EVR Research LP grew its position in C3.ai by 223.8% during the 4th quarter. EVR Research LP now owns 600,400 shares of the company’s stock worth $8,093,000 after purchasing an additional 415,000 shares in the last quarter. Bank of New York Mellon Corp raised its stake in C3.ai by 0.8% during the 1st quarter. Bank of New York Mellon Corp now owns 690,694 shares of the company’s stock valued at $5,816,000 after purchasing an additional 5,631 shares during the period. Finally, Edgestream Partners L.P. raised its stake in C3.ai by 247.5% during the 1st quarter. Edgestream Partners L.P. now owns 658,573 shares of the company’s stock valued at $5,545,000 after purchasing an additional 469,057 shares during the period. 38.96% of the stock is owned by hedge funds and other institutional investors.

C3.ai Company Profile

C3.ai, Inc develops enterprise artificial intelligence software and applications for organizations in a range of industries. Its technology is designed to help businesses use data, machine learning and predictive analytics to address operational, financial and strategic challenges.

The company’s offerings include the C3 AI Platform, which provides tools for developing, deploying and operating AI applications, as well as prebuilt applications for use cases such as predictive maintenance, fraud detection, supply-chain optimization, customer engagement, energy management and regulatory compliance.