C3.ai (NYSE:AI) CEO Sells $1,188,663.82 in Stock

C3.ai, Inc. (NYSE:AI) CEO Thomas Siebel sold 97,913 shares of the company’s stock in a transaction dated Wednesday, November 11th. The shares were sold at an average price of $12.14, for a total transaction of $1,188,663.82. Following the transaction, the chief executive officer directly owned 722,362 shares of the company’s stock, valued at approximately $8,769,474.68. This trade represents a 11.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

C3.ai Stock Down 0.7%

Shares of C3.ai stock traded down $0.09 during trading on Thursday, reaching $12.10. 3,429,074 shares of the stock were exchanged, compared to its average volume of 5,804,681. The stock’s fifty day moving average is $11.30 and its 200 day moving average is $10.03. The firm has a market cap of $1.95 billion, a price-to-earnings ratio of -3.93 and a beta of 2.17. C3.ai, Inc. has a 1 year low of $7.68 and a 1 year high of $16.40.

C3.ai (NYSE:AI) last posted its earnings results on Wednesday, September 2nd. The company reported ($0.20) earnings per share (EPS) for the quarter, topping 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 company 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) earnings per share. C3.ai’s quarterly revenue was down 25.4% on a year-over-year basis. Equities analysts forecast that C3.ai, Inc. will post -2.20 earnings per share for the current year.

Analyst Ratings Changes

AI has been the topic of a number of recent analyst reports. DA Davidson reiterated an “underperform” rating and issued a $7.00 price objective on shares of C3.ai in a research report on Tuesday, September 1st. Canaccord Genuity Group restated a “hold” rating and set a $10.00 target price on shares of C3.ai in a report on Thursday, September 3rd. Yorkville Ives began coverage on C3.ai in a research note on Tuesday, October 6th. They issued an “in-line” rating and a $12.50 price target for the company. Wall Street Zen raised C3.ai from a “sell” rating to a “hold” rating in a research note on Sunday, October 11th. Finally, Citizens Jmp reiterated a “market perform” rating on shares of C3.ai in a report on Tuesday, September 29th. Two equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and seven have issued a Sell rating to the company. According to MarketBeat, C3.ai has a consensus rating of “Reduce” and a consensus target price of $9.62.

Hedge Funds Weigh In On C3.ai

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of America Corp DE raised its stake in 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 buying an additional 1,166,302 shares in the last quarter. First Trust Advisors LP lifted its holdings in C3.ai by 10.0% in the third quarter. First Trust Advisors LP now owns 1,118,432 shares of the company’s stock worth $12,292,000 after buying an additional 101,857 shares during the period. Bank of New York Mellon Corp lifted its holdings in C3.ai by 0.8% in the first quarter. Bank of New York Mellon Corp now owns 690,694 shares of the company’s stock worth $5,816,000 after buying an additional 5,631 shares during the period. Edgestream Partners L.P. lifted its holdings in C3.ai by 247.5% in the first quarter. Edgestream Partners L.P. now owns 658,573 shares of the company’s stock worth $5,545,000 after buying an additional 469,057 shares during the period. Finally, Engineers Gate Manager LP bought a new stake in C3.ai during the 2nd quarter valued at approximately $2,855,000. Hedge funds and other institutional investors own 38.96% of the company’s stock.

About C3.ai

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.