Thomas Siebel Sells 282,001 Shares of C3.ai (NYSE:AI) Stock

C3.ai, Inc. (NYSE:AI) CEO Thomas Siebel sold 282,001 shares of the stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $10.90, for a total value of $3,073,810.90. Following the sale, the chief executive officer directly owned 722,362 shares in the company, valued at $7,873,745.80. This represents a 28.08% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

C3.ai Trading Up 2.0%

NYSE AI traded up $0.21 during midday trading on Thursday, hitting $10.78. The company had a trading volume of 2,933,672 shares, compared to its average volume of 6,048,491. The firm has a 50-day moving average price of $9.79 and a 200-day moving average price of $9.45. The company has a market capitalization of $1.67 billion, a PE ratio of -3.50 and a beta of 2.10. C3.ai, Inc. has a twelve month low of $7.68 and a twelve month high of $20.22.

C3.ai (NYSE:AI) last issued its quarterly earnings results on Wednesday, September 2nd. The company reported ($0.20) EPS for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.06. C3.ai had a negative return on equity of 61.25% and a negative net margin of 192.10%.The company had revenue of $52.38 million for the quarter, compared to analysts’ expectations of $52.06 million. During the same quarter last year, the business earned ($0.37) earnings per share. C3.ai’s revenue was down 25.4% on a year-over-year basis. On average, equities analysts anticipate that C3.ai, Inc. will post -2.22 EPS for the current year.

Hedge Funds Weigh In On C3.ai

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Arizona State Retirement System increased its holdings in C3.ai by 3.7% in the 2nd quarter. Arizona State Retirement System now owns 37,168 shares of the company’s stock worth $338,000 after purchasing an additional 1,310 shares in the last quarter. ProShare Advisors LLC boosted its stake in shares of C3.ai by 6.5% during the fourth quarter. ProShare Advisors LLC now owns 22,984 shares of the company’s stock valued at $310,000 after purchasing an additional 1,400 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its stake in shares of C3.ai by 12.7% during the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 13,776 shares of the company’s stock valued at $116,000 after purchasing an additional 1,548 shares in the last quarter. CoreCap Advisors LLC grew its holdings in shares of C3.ai by 34.0% during the second quarter. CoreCap Advisors LLC now owns 6,145 shares of the company’s stock worth $56,000 after purchasing an additional 1,560 shares during the last quarter. Finally, Western Wealth Management LLC bought a new stake in shares of C3.ai during the first quarter worth about $26,000. Institutional investors own 38.96% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on AI. Wedbush restated an “outperform” rating and issued a $15.00 target price on shares of C3.ai in a research report on Thursday, June 4th. DA Davidson reissued an “underperform” rating and issued a $7.00 price objective on shares of C3.ai in a research note on Tuesday, September 1st. Citigroup restated a “market perform” rating on shares of C3.ai in a research report on Thursday, September 3rd. KeyCorp restated an “underweight” rating on shares of C3.ai in a research note on Thursday, June 4th. Finally, Weiss Ratings raised C3.ai from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, August 4th. One equities research analyst has rated the stock with a Buy rating, four have issued a Hold rating and seven have issued a Sell rating to the company. Based on data from MarketBeat, C3.ai has an average rating of “Reduce” and a consensus price target of $8.70.

About C3.ai

C3.ai, Inc develops enterprise artificial intelligence software and applications for organizations in a range of industries. Its technology is designed to help businesses use data, machine learning and predictive analytics to address operational, financial and strategic challenges.

The company’s offerings include the C3 AI Platform, which provides tools for developing, deploying and operating AI applications, as well as prebuilt applications for use cases such as predictive maintenance, fraud detection, supply-chain optimization, customer engagement, energy management and regulatory compliance.