Insider Selling: C3.ai (NYSE:AI) Chairman Sells 282,203 Shares of Stock

C3.ai, Inc. (NYSE:AI) Chairman Thomas Siebel sold 282,203 shares of the company’s stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $8.86, for a total value of $2,500,318.58. Following the sale, the chairman directly owned 722,362 shares of the company’s stock, valued at $6,400,127.32. The trade was a 28.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

C3.ai Stock Up 0.6%

Shares of NYSE:AI traded up $0.06 during trading on Thursday, reaching $8.67. The stock had a trading volume of 3,633,634 shares, compared to its average volume of 7,187,574. The stock has a fifty day simple moving average of $10.96 and a two-hundred day simple moving average of $14.26. C3.ai, Inc. has a 52 week low of $7.72 and a 52 week high of $30.24. The firm has a market capitalization of $1.22 billion, a price-to-earnings ratio of -2.75 and a beta of 2.05.

C3.ai (NYSE:AI) last released its earnings results on Wednesday, February 25th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.11). C3.ai had a negative net margin of 141.35% and a negative return on equity of 55.40%. The business had revenue of $53.26 million during the quarter, compared to analyst estimates of $75.91 million. During the same period last year, the business earned ($0.12) EPS. The business’s quarterly revenue was down 46.1% compared to the same quarter last year. On average, analysts forecast that C3.ai, Inc. will post -2.44 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP boosted its holdings in C3.ai by 77.1% during the third quarter. Dimensional Fund Advisors LP now owns 1,804,188 shares of the company’s stock valued at $31,284,000 after purchasing an additional 785,508 shares in the last quarter. Two Sigma Investments LP bought a new position in shares of C3.ai during the 3rd quarter worth approximately $13,379,000. Voloridge Investment Management LLC bought a new position in shares of C3.ai during the 4th quarter worth approximately $9,183,000. Federated Hermes Inc. boosted its stake in C3.ai by 93,578.8% in the 4th quarter. Federated Hermes Inc. now owns 675,424 shares of the company’s stock valued at $9,105,000 after buying an additional 674,703 shares in the last quarter. Finally, Quantbot Technologies LP grew its position in C3.ai by 2,831.4% in the third quarter. Quantbot Technologies LP now owns 554,472 shares of the company’s stock valued at $9,615,000 after acquiring an additional 535,557 shares during the period. Institutional investors own 38.96% of the company’s stock.

Analyst Upgrades and Downgrades

AI has been the subject of a number of research reports. Canaccord Genuity Group reduced their price target on shares of C3.ai from $16.00 to $7.00 and set a “hold” rating for the company in a report on Thursday, February 26th. KeyCorp cut their price objective on shares of C3.ai from $10.00 to $6.00 and set an “underweight” rating for the company in a research report on Thursday, February 26th. Needham & Company LLC reissued a “hold” rating on shares of C3.ai in a research report on Thursday, December 4th. Weiss Ratings restated a “sell (d-)” rating on shares of C3.ai in a research note on Wednesday, January 21st. Finally, Bank of America set a $10.00 price objective on C3.ai in a research report on Friday, January 30th. One equities 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. According to MarketBeat, the company has an average rating of “Reduce” and a consensus price target of $15.87.

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.