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

C3.ai, Inc. (NYSE:AI) CEO Thomas Siebel sold 139,500 shares of C3.ai stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $9.61, for a total value of $1,340,595.00. Following the transaction, the chief executive officer owned 866,196 shares in the company, valued at approximately $8,324,143.56. This trade represents a 13.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

C3.ai Stock Up 3.5%

Shares of C3.ai stock opened at $10.07 on Wednesday. The firm has a market cap of $1.57 billion, a price-to-earnings ratio of -3.02 and a beta of 2.08. The business has a fifty day simple moving average of $9.61 and a 200-day simple moving average of $9.69. C3.ai, Inc. has a fifty-two week low of $7.68 and a fifty-two week high of $23.76.

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

Hedge Funds Weigh In On C3.ai

A number of institutional investors have recently bought and sold shares of the stock. Bank of America Corp DE lifted 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 valued at $27,636,000 after buying an additional 1,166,302 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of C3.ai by 77.1% in 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 stake in shares of C3.ai during the third quarter valued at approximately $13,379,000. Voloridge Investment Management LLC acquired a new stake in shares of C3.ai during the fourth quarter valued at approximately $9,183,000. Finally, Federated Hermes Inc. lifted its position in shares of C3.ai by 93,578.8% in the 4th quarter. Federated Hermes Inc. now owns 675,424 shares of the company’s stock valued at $9,105,000 after acquiring an additional 674,703 shares in the last quarter. Hedge funds and other institutional investors own 38.96% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on AI shares. DA Davidson reaffirmed an “underperform” rating and issued a $7.00 price objective on shares of C3.ai in a research note on Thursday, June 4th. KeyCorp reissued an “underweight” rating on shares of C3.ai in a research note on Thursday, June 4th. Wedbush restated an “outperform” rating and set a $15.00 target price on shares of C3.ai in a report on Thursday, June 4th. Canaccord Genuity Group lifted their price target on shares of C3.ai from $8.00 to $10.00 and gave the stock a “hold” rating in a research report on Thursday, June 4th. Finally, Needham & Company LLC reaffirmed a “hold” rating 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 issued a Hold rating and six have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average 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.