C3.ai (NYSE:AI) Chairman Sells $5,966,795.12 in Stock

C3.ai, Inc. (NYSE:AI) Chairman Thomas Siebel sold 511,732 shares of the company’s stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $11.66, for a total value of $5,966,795.12. Following the transaction, the chairman directly owned 722,362 shares in the company, valued at approximately $8,422,740.92. The trade was a 41.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

C3.ai Trading Down 4.1%

NYSE:AI traded down $0.45 during mid-day trading on Thursday, reaching $10.40. The company’s stock had a trading volume of 6,257,545 shares, compared to its average volume of 7,179,603. C3.ai, Inc. has a 12-month low of $9.99 and a 12-month high of $33.10. The firm’s fifty day moving average price is $13.43 and its two-hundred day moving average price is $16.06. The stock has a market cap of $1.46 billion, a P/E ratio of -3.67 and a beta of 1.98.

C3.ai (NYSE:AI) last announced its quarterly earnings results on Wednesday, December 3rd. The company reported ($0.25) earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $74.86 million. During the same quarter last year, the firm posted ($0.06) EPS. The business’s quarterly revenue was down 20.3% compared to the same quarter last year. Analysts predict that C3.ai, Inc. will post -2.44 earnings per share for the current fiscal year.

Institutional Investors Weigh In On C3.ai

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bogart Wealth LLC increased its holdings in shares of C3.ai by 22.7% in the second quarter. Bogart Wealth LLC now owns 2,700 shares of the company’s stock worth $66,000 after purchasing an additional 500 shares during the last quarter. ProShare Advisors LLC increased its stake in C3.ai by 2.4% in the 2nd quarter. ProShare Advisors LLC now owns 25,548 shares of the company’s stock worth $628,000 after acquiring an additional 593 shares during the last quarter. Moors & Cabot Inc. raised its holdings in shares of C3.ai by 5.2% during the 2nd quarter. Moors & Cabot Inc. now owns 14,263 shares of the company’s stock worth $350,000 after acquiring an additional 700 shares in the last quarter. Ameritas Investment Partners Inc. raised its holdings in shares of C3.ai by 6.8% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 12,365 shares of the company’s stock worth $304,000 after acquiring an additional 791 shares in the last quarter. Finally, NewEdge Advisors LLC boosted its position in shares of C3.ai by 48.7% during the 1st quarter. NewEdge Advisors LLC now owns 2,442 shares of the company’s stock valued at $51,000 after acquiring an additional 800 shares during the last quarter. 38.96% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on AI shares. Canaccord Genuity Group reissued a “hold” rating and set a $16.00 price target on shares of C3.ai in a report on Thursday, December 4th. DA Davidson reissued an “underperform” rating and issued a $13.00 target price on shares of C3.ai in a report on Thursday, December 4th. Needham & Company LLC reissued a “hold” rating on shares of C3.ai in a research report on Thursday, December 4th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of C3.ai in a research report on Wednesday, January 21st. Finally, Wedbush reissued an “outperform” rating and issued a $20.00 price objective on shares of C3.ai in a report on Thursday, December 4th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, six have assigned a Hold rating and five have issued a Sell rating to the company. According to data from MarketBeat.com, C3.ai has an average rating of “Reduce” and an average target price of $21.00.

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.