C3.ai (NYSE:AI) Stock: Insider Thomas Siebel Sells 97,913 Shares

C3.ai, Inc. (NYSE:AI) CEO Thomas Siebel sold 97,913 shares of the stock in a transaction on Wednesday, November 11th. The shares were sold at an average price of $12.14, for a total value of $1,188,663.82. Following the completion of the sale, the chief executive officer owned 722,362 shares in the company, valued at approximately $8,769,474.68. This trade represents a 11.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

C3.ai Stock Down 1.7%

Shares of C3.ai stock opened at $11.86 on Friday. The business has a fifty day simple moving average of $11.35 and a two-hundred day simple moving average of $10.02. C3.ai, Inc. has a 1 year low of $7.68 and a 1 year high of $16.40.

C3.ai (NYSE:AI) last released its quarterly earnings data on Wednesday, September 2nd. The company reported ($0.20) EPS for the quarter, beating the consensus estimate of ($0.26) by $0.06. The firm had revenue of $52.38 million for the quarter, compared to the consensus estimate of $52.06 million. C3.ai had a negative net margin of 192.10% and a negative return on equity of 61.25%. The company’s quarterly revenue was down 25.4% on a year-over-year basis. During the same period in the previous year, the company earned ($0.37) earnings per share. Sell-side analysts predict that C3.ai, Inc. will post -2.20 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Citigroup reissued a “market perform” rating on shares of C3.ai in a report on Thursday, September 3rd. Citizens Jmp restated a “market perform” rating on shares of C3.ai in a research report on Tuesday, September 29th. Wall Street Zen upgraded C3.ai from a “sell” rating to a “hold” rating in a report on Sunday, October 11th. Yorkville Ives started coverage on C3.ai in a report on Tuesday, October 6th. They set an “in-line” rating and a $12.50 price objective for the company. Finally, UBS Group reaffirmed an “underperform” rating on shares of C3.ai in a research report on Tuesday, September 1st. Two equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and seven have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus price target of $9.62.

Institutional Investors Weigh In On C3.ai

Hedge funds and other institutional investors have recently modified their holdings of the company. Caxton Associates LLP grew its stake in shares of C3.ai by 2,181.5% in the third quarter. Caxton Associates LLP now owns 289,935 shares of the company’s stock valued at $3,186,000 after acquiring an additional 277,227 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in C3.ai in the 3rd quarter worth about $4,478,000. AlphaGrep UK Ltd acquired a new stake in C3.ai in the 3rd quarter worth about $194,000. First Trust Advisors LP raised its stake in C3.ai by 10.0% in the 3rd quarter. First Trust Advisors LP now owns 1,118,432 shares of the company’s stock worth $12,292,000 after purchasing an additional 101,857 shares in the last quarter. Finally, Private Advisor Group LLC boosted its holdings in C3.ai by 12.2% in the 3rd quarter. Private Advisor Group LLC now owns 17,069 shares of the company’s stock valued at $188,000 after purchasing an additional 1,856 shares during the period. Institutional investors and hedge funds own 38.96% of the company’s stock.

C3.ai Company Profile

C3.ai, Inc. is an enterprise software company that develops artificial intelligence applications and tools for businesses and government organizations. Its offerings are designed to help customers use data to address operational and analytical needs across industries including energy, manufacturing, financial services, healthcare and defense. The company’s products include the C3 AI Platform, which provides tools for developing, deploying and operating AI applications using enterprise data, as well as ready-made applications for use cases such as predictive maintenance, supply chain management and fraud detection.