Thomas Siebel Sells 453,314 Shares of C3.ai (NYSE:AI) Stock

C3.ai, Inc. (NYSE:AI) CEO Thomas Siebel sold 453,314 shares of the firm’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $10.51, for a total transaction of $4,764,330.14. Following the completion of the transaction, the chief executive officer directly owned 722,362 shares in the company, valued at approximately $7,592,024.62. The trade was a 38.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

C3.ai Stock Performance

Shares of C3.ai stock opened at $9.89 on Friday. The firm has a fifty day moving average of $9.53 and a two-hundred day moving average of $9.56. The stock has a market capitalization of $1.54 billion, a price-to-earnings ratio of -2.96 and a beta of 2.08. C3.ai, Inc. has a 52 week low of $7.68 and a 52 week high of $20.22.

C3.ai (NYSE:AI) last released 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 firm had revenue of $51.60 million for the quarter, compared to analyst estimates 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 in the prior year, the firm posted ($0.16) earnings per share. As a group, research analysts forecast that C3.ai, Inc. will post -2.28 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

AI has been the topic of several recent analyst reports. KeyCorp reiterated an “underweight” rating on shares of C3.ai in a report on Thursday, June 4th. UBS Group boosted their price objective on C3.ai from $9.00 to $12.00 and gave the company a “neutral” rating in a research report on Thursday, June 4th. Canaccord Genuity Group raised their target price on shares of C3.ai from $8.00 to $10.00 and gave the stock a “hold” rating in a report on Thursday, June 4th. Wedbush reaffirmed an “outperform” rating and issued a $15.00 price target on shares of C3.ai in a research note on Thursday, June 4th. Finally, DA Davidson reissued an “underperform” rating and set a $7.00 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 assigned a Hold rating and six have issued a Sell rating to the stock. Based on data from MarketBeat, C3.ai has an average rating of “Reduce” and an average price target of $10.09.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in C3.ai by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 14,469,953 shares of the company’s stock valued at $195,055,000 after purchasing an additional 108,011 shares during the last quarter. Morgan Stanley increased its holdings in shares of C3.ai by 1.9% in the fourth quarter. Morgan Stanley now owns 4,824,499 shares of the company’s stock valued at $65,034,000 after purchasing an additional 91,802 shares during the last quarter. Bank of America Corp DE increased its holdings 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 valued at $27,636,000 after purchasing an additional 1,166,302 shares during the last quarter. State Street Corp increased its holdings in shares of C3.ai by 3.3% in the fourth quarter. State Street Corp now owns 2,976,389 shares of the company’s stock valued at $40,122,000 after purchasing an additional 94,086 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of C3.ai by 0.8% in the fourth quarter. Geode Capital Management LLC now owns 2,868,578 shares of the company’s stock valued at $38,675,000 after purchasing an additional 21,451 shares during the period. 38.96% of the stock is owned by institutional investors and hedge funds.

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.