Thomas Siebel Sells 369,624 Shares of C3.ai (NYSE:AI) Stock

C3.ai, Inc. (NYSE:AI) CEO Thomas Siebel sold 369,624 shares of the firm’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $8.72, for a total value of $3,223,121.28. Following the completion of the sale, the chief executive officer owned 722,362 shares of the company’s stock, valued at approximately $6,298,996.64. This trade represents a 33.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

C3.ai Price Performance

Shares of NYSE:AI traded up $0.09 during midday trading on Tuesday, reaching $8.84. The company’s stock had a trading volume of 3,879,723 shares, compared to its average volume of 6,078,713. C3.ai, Inc. has a fifty-two week low of $7.68 and a fifty-two week high of $30.24. The company has a market capitalization of $1.28 billion, a P/E ratio of -2.80 and a beta of 2.00. The business’s fifty day simple moving average is $8.83 and its 200-day simple moving average is $11.67.

C3.ai (NYSE:AI) last announced its earnings results on Wednesday, February 25th. The company reported ($0.40) earnings per share 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 quarter last year, the business posted ($0.12) earnings per share. 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 -3.22 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

AI has been the subject of a number of research reports. DA Davidson restated an “underperform” rating and issued a $7.00 target price on shares of C3.ai in a research note on Wednesday, May 13th. UBS Group reiterated a “reduce” rating on shares of C3.ai in a report on Thursday, February 26th. Citizens Jmp cut C3.ai from an “outperform” rating to a “market perform” rating in a report on Thursday, February 26th. Weiss Ratings cut C3.ai from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, May 4th. Finally, JPMorgan Chase & Co. decreased their price target on C3.ai from $10.00 to $7.00 and set an “underweight” rating on the stock in a report on Thursday, February 26th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, seven have issued a Hold rating and six have given a Sell rating to the stock. Based on data from MarketBeat, C3.ai currently has a consensus rating of “Reduce” and a consensus price target of $15.93.

Hedge Funds Weigh In On C3.ai

Several hedge funds have recently added to or reduced their stakes in AI. Larson Financial Group LLC lifted its holdings in shares of C3.ai by 683.6% during the 3rd quarter. Larson Financial Group LLC now owns 1,481 shares of the company’s stock valued at $26,000 after purchasing an additional 1,292 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in C3.ai by 66.1% during the 4th quarter. Farther Finance Advisors LLC now owns 2,141 shares of the company’s stock worth $29,000 after buying an additional 852 shares during the period. Parallel Advisors LLC raised its holdings in C3.ai by 76.4% during the 3rd quarter. Parallel Advisors LLC now owns 1,849 shares of the company’s stock worth $32,000 after buying an additional 801 shares during the period. Comerica Bank raised its holdings in C3.ai by 839.1% during the 4th quarter. Comerica Bank now owns 2,423 shares of the company’s stock worth $33,000 after buying an additional 2,165 shares during the period. Finally, Olistico Wealth LLC acquired a new stake in C3.ai during the 4th quarter worth approximately $34,000. Institutional investors own 38.96% of the company’s stock.

About C3.ai

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.