C3.ai (NYSE:AI) Sets New 12-Month Low After Insider Selling

C3.ai, Inc. (NYSE:AI)’s stock price hit a new 52-week low during mid-day trading on Wednesday after an insider sold shares in the company. The stock traded as low as $10.19 and last traded at $10.7340, with a volume of 9367046 shares traded. The stock had previously closed at $10.92.

Specifically, Chairman Thomas M. Siebel sold 27,605 shares of the firm’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $10.81, for a total transaction of $298,410.05. Following the completion of the sale, the chairman directly owned 747,882 shares of the company’s stock, valued at approximately $8,084,604.42. This trade represents a 3.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Analyst Ratings Changes

A number of brokerages recently commented on AI. Weiss Ratings reissued a “sell (d-)” rating on shares of C3.ai in a report on Wednesday, January 21st. Needham & Company LLC reissued a “hold” rating on shares of C3.ai in a research report on Thursday, December 4th. Oppenheimer set a $10.00 price target on shares of C3.ai in a research note on Friday, January 30th. Wedbush reiterated an “outperform” rating and set a $20.00 price objective on shares of C3.ai in a research note on Thursday, December 4th. Finally, Canaccord Genuity Group reissued a “hold” rating and issued a $16.00 target price on shares of C3.ai in a research report on Thursday, December 4th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, six have assigned a Hold rating and five have given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus target price of $19.00.

C3.ai Stock Performance

The company’s fifty day moving average price is $13.67 and its 200 day moving average price is $16.59. The firm has a market capitalization of $1.43 billion, a price-to-earnings ratio of -3.59 and a beta of 1.98.

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

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in C3.ai by 171.9% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 129,797 shares of the company’s stock worth $1,785,000 after buying an additional 82,065 shares during the period. Comerica Bank increased its holdings in shares of C3.ai by 839.1% in the 4th quarter. Comerica Bank now owns 2,423 shares of the company’s stock worth $33,000 after acquiring an additional 2,165 shares during the period. Vanguard Group Inc. lifted its position in C3.ai by 0.8% in 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. Geneos Wealth Management Inc. lifted its position in C3.ai by 29.6% in the 4th quarter. Geneos Wealth Management Inc. now owns 4,373 shares of the company’s stock valued at $59,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH boosted its stake in C3.ai by 20.7% during the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 12,798 shares of the company’s stock valued at $173,000 after purchasing an additional 2,194 shares during the period. 38.96% of the stock is currently owned by institutional investors.

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.