Insider Selling: C3.ai (NYSE:AI) Chairman Sells 23,435 Shares of Stock

C3.ai, Inc. (NYSE:AI) Chairman Thomas Siebel sold 23,435 shares of the firm’s stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $9.11, for a total value of $213,492.85. Following the transaction, the chairman directly owned 743,693 shares of the company’s stock, valued at approximately $6,775,043.23. This trade represents a 3.05% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

C3.ai Trading Up 0.4%

NYSE:AI traded up $0.04 during trading hours on Friday, reaching $8.91. 6,183,312 shares of the company traded hands, compared to its average volume of 7,504,059. The business’s 50-day moving average price is $11.27 and its two-hundred day moving average price is $14.45. C3.ai, Inc. has a 1 year low of $7.72 and a 1 year high of $30.24. The stock has a market capitalization of $1.25 billion, a P/E ratio of -2.83 and a beta of 2.05.

C3.ai (NYSE:AI) last released its earnings results on Wednesday, February 25th. The company reported ($0.40) EPS for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.11). C3.ai had a negative return on equity of 53.96% and a negative net margin of 141.35%.The company had revenue of $53.26 million during the quarter, compared to analysts’ expectations of $75.91 million. During the same period in the prior year, the company posted ($0.12) earnings per share. The company’s revenue was down 46.1% on a year-over-year basis. As a group, equities analysts anticipate that C3.ai, Inc. will post -2.44 EPS for the current year.

Hedge Funds Weigh In On C3.ai

A number of hedge funds have recently bought and sold shares of the business. Silicon Valley Capital Partners purchased a new stake in shares of C3.ai during the 2nd quarter valued at about $25,000. Larson Financial Group LLC grew its stake in shares of C3.ai by 683.6% in the third quarter. Larson Financial Group LLC now owns 1,481 shares of the company’s stock worth $26,000 after acquiring an additional 1,292 shares during the period. Farther Finance Advisors LLC raised its holdings in shares of C3.ai by 66.1% during the fourth quarter. Farther Finance Advisors LLC now owns 2,141 shares of the company’s stock valued at $29,000 after purchasing an additional 852 shares during the last quarter. Parallel Advisors LLC raised its holdings in shares of C3.ai by 76.4% during the third quarter. Parallel Advisors LLC now owns 1,849 shares of the company’s stock valued at $32,000 after purchasing an additional 801 shares during the last quarter. Finally, Comerica Bank lifted its position in C3.ai by 839.1% during the fourth quarter. Comerica Bank now owns 2,423 shares of the company’s stock valued at $33,000 after purchasing an additional 2,165 shares during the period. Hedge funds and other institutional investors own 38.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Wolfe Research restated an “underperform” rating and set a $6.00 price objective on shares of C3.ai in a research note on Thursday, February 26th. DA Davidson dropped their target price on shares of C3.ai from $13.00 to $7.00 and set an “underperform” rating on the stock in a research note on Thursday, February 26th. Wedbush cut their price target on shares of C3.ai from $20.00 to $15.00 and set an “outperform” rating on the stock in a report on Thursday, February 26th. UBS Group reissued a “reduce” rating on shares of C3.ai in a research report on Thursday, February 26th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of C3.ai from $10.00 to $7.00 and set an “underweight” rating for the company 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 assigned a Hold rating and six have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, C3.ai presently has a consensus rating of “Reduce” and a consensus target price of $15.87.

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.