Insider Selling: C3.ai (NYSE:AI) CEO Sells $3,866,005.92 in Stock

C3.ai, Inc. (NYSE:AI) CEO Thomas Siebel sold 328,742 shares of the business’s stock in a transaction that occurred on Tuesday, November 10th. The stock was sold at an average price of $11.76, for a total value of $3,866,005.92. Following the sale, the chief executive officer owned 722,362 shares of the company’s stock, valued at approximately $8,494,977.12. The trade was a 31.28% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

C3.ai Stock Down 0.7%

C3.ai stock traded down $0.09 during mid-day trading on Thursday, hitting $12.10. The company had a trading volume of 3,429,074 shares, compared to its average volume of 5,804,681. The stock has a market cap of $1.95 billion, a price-to-earnings ratio of -3.93 and a beta of 2.17. C3.ai, Inc. has a 1 year low of $7.68 and a 1 year high of $16.40. The business has a fifty day moving average of $11.30 and a 200 day moving average of $10.03.

C3.ai (NYSE:AI) last released its quarterly earnings data on Wednesday, September 2nd. The company reported ($0.20) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.06. The company had revenue of $52.38 million for the quarter, compared to analysts’ expectations of $52.06 million. C3.ai had a negative net margin of 192.10% and a negative return on equity of 61.25%. The firm’s revenue for the quarter was down 25.4% on a year-over-year basis. During the same quarter last year, the company earned ($0.37) earnings per share. Equities analysts anticipate that C3.ai, Inc. will post -2.20 earnings per share for the current year.

Hedge Funds Weigh In On C3.ai

Hedge funds have recently modified their holdings of the business. Western Wealth Management LLC acquired a new position in shares of C3.ai in the 1st quarter valued at $26,000. CoreCap Advisors LLC boosted its stake in C3.ai by 34.0% during the 2nd 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 period. Versant Capital Management Inc boosted its stake in C3.ai by 1,510.1% during the 2nd quarter. Versant Capital Management Inc now owns 6,859 shares of the company’s stock worth $62,000 after purchasing an additional 6,433 shares during the period. Nykredit A S acquired a new stake in C3.ai during the 2nd quarter worth $84,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in C3.ai during the 3rd quarter worth $85,000. 38.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. UBS Group reiterated an “underperform” rating on shares of C3.ai in a research note on Tuesday, September 1st. Needham & Company LLC restated a “hold” rating on shares of C3.ai in a research note on Thursday, September 3rd. Yorkville Ives assumed coverage on C3.ai in a report on Tuesday, October 6th. They set an “in-line” rating and a $12.50 price objective on the stock. Northland Securities upgraded C3.ai from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $10.00 to $16.00 in a research report on Monday, October 12th. Finally, Citigroup reiterated a “market perform” rating on shares of C3.ai in a research report on Thursday, September 3rd. Two equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and seven have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average target price of $9.62.

C3.ai Company Profile

C3.ai, Inc. is an enterprise software company that develops artificial intelligence applications and tools for businesses and government organizations. Its offerings are designed to help customers use data to address operational and analytical needs across industries including energy, manufacturing, financial services, healthcare and defense. The company’s products include the C3 AI Platform, which provides tools for developing, deploying and operating AI applications using enterprise data, as well as ready-made applications for use cases such as predictive maintenance, supply chain management and fraud detection.