Insider Selling: C3.ai (NYSE:AI) Chairman Sells $366,620.00 in Stock

C3.ai, Inc. (NYSE:AI) Chairman Thomas Siebel sold 23,000 shares of the stock in a transaction on Friday, December 12th. The stock was sold at an average price of $15.94, for a total value of $366,620.00. Following the sale, the chairman directly owned 744,129 shares in the company, valued at approximately $11,861,416.26. This trade represents a 3.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

C3.ai Stock Performance

Shares of AI opened at $13.78 on Friday. C3.ai, Inc. has a 52-week low of $12.59 and a 52-week high of $39.64. The business’s fifty day moving average is $15.82 and its 200-day moving average is $19.58. The firm has a market cap of $1.90 billion, a price-to-earnings ratio of -4.87 and a beta of 1.97.

C3.ai (NYSE:AI) last posted its earnings results on Wednesday, December 3rd. The company reported ($0.25) EPS for the quarter, beating the consensus estimate of ($0.33) by $0.08. The firm had revenue of $75.15 million during the quarter, compared to the consensus estimate of $74.86 million. C3.ai had a negative return on equity of 46.51% and a negative net margin of 108.06%.The business’s quarterly revenue was down 20.3% on a year-over-year basis. During the same period last year, the company earned ($0.06) earnings per share. As a group, research analysts forecast that C3.ai, Inc. will post -2.44 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on AI shares. Morgan Stanley cut their price target on shares of C3.ai from $22.00 to $11.00 and set an “underweight” rating on the stock in a research report on Tuesday, September 9th. DA Davidson reaffirmed an “underperform” rating and set a $13.00 target price on shares of C3.ai in a research note on Thursday, December 4th. JMP Securities dropped their price target on C3.ai from $30.00 to $24.00 and set a “market outperform” rating on the stock in a research note on Thursday, September 4th. Needham & Company LLC restated a “hold” rating on shares of C3.ai in a report on Thursday, December 4th. Finally, KeyCorp lowered their price objective on shares of C3.ai from $18.00 to $10.00 and set an “underweight” rating for the company in a research note on Thursday, September 4th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, seven have assigned a Hold rating and five have issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Reduce” and an average price target of $21.92.

Hedge Funds Weigh In On C3.ai

Several hedge funds have recently modified their holdings of the company. Silicon Valley Capital Partners purchased a new stake in shares of C3.ai during the 2nd quarter valued at $25,000. Larson Financial Group LLC boosted its holdings in shares of C3.ai by 683.6% in the 3rd quarter. Larson Financial Group LLC now owns 1,481 shares of the company’s stock worth $26,000 after buying an additional 1,292 shares during the last quarter. Parallel Advisors LLC grew its position in C3.ai by 76.4% during the third quarter. Parallel Advisors LLC now owns 1,849 shares of the company’s stock valued at $32,000 after buying an additional 801 shares during the period. Financial Consulate Inc. purchased a new stake in C3.ai during the third quarter worth about $36,000. Finally, Blue Trust Inc. raised its position in C3.ai by 53.7% in the second quarter. Blue Trust Inc. now owns 2,329 shares of the company’s stock worth $57,000 after acquiring an additional 814 shares during the period. Institutional investors own 38.96% of the company’s stock.

About C3.ai

C3.ai, Inc operates as an enterprise artificial intelligence (AI) software company in North America, Europe, the Middle East, Africa, the Asia Pacific, and internationally. The company provides C3 AI platform, an application development and runtime environment that enables customers to design, develop, and deploy enterprise AI applications; C3 AI Ex Machina for analysis-ready data; C3 AI CRM, an industry specific customer relationship management solution; and C3 Generative AI Product Suite that enables to locate, retrieve, and present information.