C3.ai (NYSE:AI) Chairman Thomas Siebel Sells 140,768 Shares

C3.ai, Inc. (NYSE:AI) Chairman Thomas Siebel sold 140,768 shares of the company’s stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $14.22, for a total transaction of $2,001,720.96. Following the completion of the sale, the chairman owned 941,845 shares of the company’s stock, valued at approximately $13,393,035.90. The trade was a 13.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

C3.ai Price Performance

AI opened at $13.78 on Friday. C3.ai, Inc. has a fifty-two week low of $12.59 and a fifty-two week high of $39.64. The firm has a market capitalization of $1.90 billion, a P/E ratio of -4.87 and a beta of 1.97. The company’s 50-day moving average is $15.82 and its 200 day moving average is $19.58.

C3.ai (NYSE:AI) last issued its quarterly earnings data on Wednesday, December 3rd. The company reported ($0.25) earnings per share (EPS) for the quarter, topping 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 business had revenue of $75.15 million during the quarter, compared to the consensus estimate of $74.86 million. During the same period in the prior year, the firm posted ($0.06) EPS. The firm’s quarterly revenue was down 20.3% compared to the same quarter last year. On average, equities research analysts expect that C3.ai, Inc. will post -2.44 earnings per share for the current year.

Institutional Investors Weigh In On C3.ai

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AI. Silicon Valley Capital Partners purchased a new stake in C3.ai during the second quarter valued at about $25,000. Larson Financial Group LLC raised its position 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 valued at $26,000 after purchasing an additional 1,292 shares during the period. Parallel Advisors LLC lifted its stake in shares of C3.ai by 76.4% during the 3rd quarter. Parallel Advisors LLC now owns 1,849 shares of the company’s stock valued at $32,000 after buying an additional 801 shares in the last quarter. Financial Consulate Inc. bought a new position in C3.ai in the 3rd quarter worth approximately $36,000. Finally, Clearstead Advisors LLC grew its stake in C3.ai by 58.0% in the 3rd quarter. Clearstead Advisors LLC now owns 2,350 shares of the company’s stock valued at $41,000 after buying an additional 863 shares in the last quarter. 38.96% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. KeyCorp dropped their price target on C3.ai from $18.00 to $10.00 and set an “underweight” rating on the stock in a report on Thursday, September 4th. UBS Group raised their target price on C3.ai from $16.00 to $17.00 and gave the company a “neutral” rating in a research report on Friday, September 12th. Wedbush reiterated an “outperform” rating and set a $20.00 target price on shares of C3.ai in a research note on Thursday, December 4th. Morgan Stanley reduced their price target on shares of C3.ai from $22.00 to $11.00 and set an “underweight” rating for the company in a research report on Tuesday, September 9th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of C3.ai in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, seven have issued a Hold rating and five have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, C3.ai has a consensus rating of “Reduce” and an average price target of $21.92.

About C3.ai

C3.ai, Inc operates as an enterprise artificial intelligence (AI) software company in North America, Europe, the Middle East, Africa, the Asia Pacific, and internationally. The company provides C3 AI platform, an application development and runtime environment that enables customers to design, develop, and deploy enterprise AI applications; C3 AI Ex Machina for analysis-ready data; C3 AI CRM, an industry specific customer relationship management solution; and C3 Generative AI Product Suite that enables to locate, retrieve, and present information.