C3.ai (NYSE:AI) Chairman Thomas Siebel Sells 219,294 Shares

C3.ai, Inc. (NYSE:AI) Chairman Thomas Siebel sold 219,294 shares of the business’s stock in a transaction that occurred on Wednesday, March 18th. The stock was sold at an average price of $8.67, for a total value of $1,901,278.98. Following the sale, the chairman directly owned 722,362 shares in the company, valued at approximately $6,262,878.54. The trade was a 23.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

C3.ai Stock Up 0.6%

NYSE AI traded up $0.06 on Thursday, reaching $8.67. 3,633,634 shares of the stock traded hands, compared to its average volume of 7,187,574. C3.ai, Inc. has a 12 month low of $7.72 and a 12 month high of $30.24. The company has a market cap of $1.22 billion, a price-to-earnings ratio of -2.75 and a beta of 2.05. The firm’s fifty day simple moving average is $10.96 and its 200 day simple moving average is $14.26.

C3.ai (NYSE:AI) last posted its quarterly earnings data 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 55.40% and a negative net margin of 141.35%.The firm had revenue of $53.26 million during the quarter, compared to the consensus estimate of $75.91 million. During the same period in the prior year, the firm posted ($0.12) EPS. The firm’s quarterly revenue was down 46.1% on a year-over-year basis. As a group, equities research analysts forecast that C3.ai, Inc. will post -2.44 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on AI shares. Citizens Jmp lowered shares of C3.ai from an “outperform” rating to a “market perform” rating in a research report on Thursday, February 26th. Needham & Company LLC reiterated a “hold” rating on shares of C3.ai in a report on Thursday, December 4th. Weiss Ratings reissued a “sell (d-)” rating on shares of C3.ai in a research note on Wednesday, January 21st. KeyCorp reduced their target price on shares of C3.ai from $10.00 to $6.00 and set an “underweight” rating for the company in a report on Thursday, February 26th. Finally, UBS Group restated a “reduce” rating on shares of C3.ai in a research report on Thursday, February 26th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, seven have given a Hold rating and six have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus target price of $15.87.

Institutional Trading of C3.ai

Several institutional investors and hedge funds have recently bought and sold shares of AI. Rockefeller Capital Management L.P. lifted its stake in C3.ai by 11.7% in the 4th quarter. Rockefeller Capital Management L.P. now owns 50,771 shares of the company’s stock worth $684,000 after acquiring an additional 5,320 shares in the last quarter. Hsbc Holdings PLC grew its stake in C3.ai by 200.2% during the 4th quarter. Hsbc Holdings PLC now owns 109,875 shares of the company’s stock valued at $1,482,000 after acquiring an additional 73,276 shares in the last quarter. Alpine Global Management LLC purchased a new position in C3.ai during the 4th quarter valued at about $206,000. Virtu Financial LLC acquired a new position in shares of C3.ai in the 4th quarter valued at about $871,000. Finally, Invesco Ltd. increased its holdings in shares of C3.ai by 29.5% in the 4th quarter. Invesco Ltd. now owns 452,653 shares of the company’s stock valued at $6,102,000 after purchasing an additional 103,058 shares during the period. Institutional investors and hedge funds 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.