C3.ai (NYSE:AI) Chairman Thomas Siebel Sells 23,435 Shares of Stock

C3.ai, Inc. (NYSE:AI) Chairman Thomas Siebel sold 23,435 shares of the company’s stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $9.11, for a total transaction of $213,492.85. Following the sale, the chairman directly owned 743,693 shares of the company’s stock, valued at $6,775,043.23. The trade was a 3.05% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

C3.ai Trading Up 0.4%

Shares of NYSE AI opened at $8.91 on Friday. C3.ai, Inc. has a 12-month low of $7.72 and a 12-month high of $30.24. The firm has a market capitalization of $1.25 billion, a price-to-earnings ratio of -2.83 and a beta of 2.05. The firm has a 50 day moving average of $11.27 and a 200 day moving average of $14.45.

C3.ai (NYSE:AI) last released its quarterly earnings results on Wednesday, February 25th. The company reported ($0.40) earnings per share for the quarter, missing the consensus estimate of ($0.29) by ($0.11). The business had revenue of $53.26 million during the quarter, compared to the consensus estimate of $75.91 million. C3.ai had a negative return on equity of 53.96% and a negative net margin of 141.35%.The firm’s revenue was down 46.1% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.12) earnings per share. Sell-side analysts predict that C3.ai, Inc. will post -2.44 EPS for the current year.

Wall Street Analyst Weigh In

AI has been the subject of several recent research reports. Wolfe Research reissued an “underperform” rating and set a $6.00 price target on shares of C3.ai in a report on Thursday, February 26th. BMO Capital Markets set a $7.00 price objective on C3.ai in a research note on Thursday, February 26th. JPMorgan Chase & Co. lowered their price objective on C3.ai from $10.00 to $7.00 and set an “underweight” rating on the stock in a research report on Thursday, February 26th. Wedbush reduced their target price on shares of C3.ai from $20.00 to $15.00 and set an “outperform” rating for the company in a report on Thursday, February 26th. Finally, UBS Group reaffirmed a “reduce” rating on shares of C3.ai in a report on Thursday, February 26th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, seven have given a Hold rating and six have issued a Sell rating to the stock. Based on data from MarketBeat.com, C3.ai presently has a consensus rating of “Reduce” and a consensus target price of $15.87.

Institutional Trading of C3.ai

Several institutional investors have recently made changes to their positions in the business. AQR Capital Management LLC raised its stake in C3.ai by 267.9% during the 1st quarter. AQR Capital Management LLC now owns 181,354 shares of the company’s stock valued at $3,788,000 after purchasing an additional 132,056 shares during the period. NewEdge Advisors LLC boosted its stake in C3.ai by 48.7% in the 1st quarter. NewEdge Advisors LLC now owns 2,442 shares of the company’s stock worth $51,000 after purchasing an additional 800 shares during the period. Woodline Partners LP purchased a new position in shares of C3.ai in the first quarter worth $346,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of C3.ai by 4.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 242,784 shares of the company’s stock worth $5,111,000 after acquiring an additional 10,675 shares during the last quarter. Finally, Focus Partners Wealth grew its stake in C3.ai by 2.6% during the first quarter. Focus Partners Wealth now owns 59,004 shares of the company’s stock valued at $1,242,000 after acquiring an additional 1,503 shares in the last quarter. Hedge funds and other institutional investors own 38.96% of the company’s stock.

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.