C3.ai (NYSE:AI) Stock: Insider Thomas Siebel Sells 328,742 Shares

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

C3.ai Stock Down 1.7%

NYSE:AI opened at $11.86 on Friday. C3.ai, Inc. has a twelve month low of $7.68 and a twelve month high of $16.40. The stock’s 50 day moving average price is $11.35 and its two-hundred day moving average price is $10.02.

C3.ai (NYSE:AI) last issued its earnings results 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. C3.ai had a negative net margin of 192.10% and a negative return on equity of 61.25%. The business had revenue of $52.38 million for the quarter, compared to the consensus estimate of $52.06 million. During the same period in the previous year, the company earned ($0.37) earnings per share. The firm’s revenue for the quarter was down 25.4% on a year-over-year basis. Sell-side analysts anticipate that C3.ai, Inc. will post -2.20 EPS for the current fiscal year.

Hedge Funds Weigh In On C3.ai

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Caxton Associates LLP boosted its position in C3.ai by 2,181.5% during the 3rd quarter. Caxton Associates LLP now owns 289,935 shares of the company’s stock worth $3,186,000 after buying an additional 277,227 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in C3.ai during the 3rd quarter worth about $4,478,000. AlphaGrep UK Ltd bought a new position in shares of C3.ai in the third quarter valued at $194,000. First Trust Advisors LP lifted its stake in C3.ai by 10.0% during the 3rd quarter. First Trust Advisors LP now owns 1,118,432 shares of the company’s stock valued at $12,292,000 after acquiring an additional 101,857 shares in the last quarter. Finally, Private Advisor Group LLC boosted its holdings in C3.ai by 12.2% during the 3rd quarter. Private Advisor Group LLC now owns 17,069 shares of the company’s stock worth $188,000 after acquiring an additional 1,856 shares during the last quarter. Institutional investors and hedge funds own 38.96% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on AI shares. Weiss Ratings restated a “sell (d-)” rating on shares of C3.ai in a research note on Monday, November 2nd. DA Davidson reiterated an “underperform” rating and issued a $7.00 price target on shares of C3.ai in a research note on Tuesday, September 1st. Citizens Jmp restated a “market perform” rating on shares of C3.ai in a research report on Tuesday, September 29th. Canaccord Genuity Group reaffirmed a “hold” rating and set a $10.00 price objective on shares of C3.ai in a research report on Thursday, September 3rd. Finally, Yorkville Ives started coverage on shares of C3.ai in a research report on Tuesday, October 6th. They set an “in-line” rating and a $12.50 price objective for the company. Two investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and seven have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Reduce” and an average price target 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.