C3.ai (NYSE:AI) Chairman Sells $252,236.70 in Stock

C3.ai, Inc. (NYSE:AI) Chairman Thomas Siebel sold 27,210 shares of the company’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $9.27, for a total transaction of $252,236.70. Following the transaction, the chairman owned 748,277 shares of the company’s stock, valued at approximately $6,936,527.79. The trade was a 3.51% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

C3.ai Stock Performance

C3.ai stock traded up $0.20 during trading hours on Tuesday, reaching $9.42. 4,346,502 shares of the stock were exchanged, compared to its average volume of 6,249,082. The stock has a market cap of $1.37 billion, a P/E ratio of -2.99 and a beta of 2.00. C3.ai, Inc. has a 52-week low of $7.68 and a 52-week high of $30.24. The firm’s 50 day moving average is $8.87 and its 200 day moving average is $12.30.

C3.ai (NYSE:AI) last announced 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). The firm had revenue of $53.26 million for the quarter, compared to analysts’ expectations of $75.91 million. C3.ai had a negative return on equity of 55.40% and a negative net margin of 141.35%.The firm’s quarterly revenue was down 46.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.12) EPS. Equities research analysts expect that C3.ai, Inc. will post -3.22 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. JPMorgan Chase & Co. dropped their target price 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. Citizens Jmp cut shares of C3.ai from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 26th. DA Davidson decreased their price target 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. Wolfe Research reaffirmed an “underperform” rating and set a $6.00 price target on shares of C3.ai in a research note on Thursday, February 26th. Finally, Wedbush decreased their price target on shares of C3.ai from $20.00 to $15.00 and set an “outperform” rating on the stock in a research note on Thursday, February 26th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, seven have given a Hold rating and six have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus target price of $15.87.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP raised its stake in shares of C3.ai by 77.1% during the third quarter. Dimensional Fund Advisors LP now owns 1,804,188 shares of the company’s stock valued at $31,284,000 after purchasing an additional 785,508 shares during the period. Two Sigma Investments LP bought a new stake in shares of C3.ai in the third quarter worth $13,379,000. Voloridge Investment Management LLC bought a new stake in shares of C3.ai in the fourth quarter worth $9,183,000. Federated Hermes Inc. increased its stake in shares of C3.ai by 93,578.8% in the fourth quarter. Federated Hermes Inc. now owns 675,424 shares of the company’s stock worth $9,105,000 after buying an additional 674,703 shares during the last quarter. Finally, Quantbot Technologies LP boosted its holdings in C3.ai by 2,831.4% in the third quarter. Quantbot Technologies LP now owns 554,472 shares of the company’s stock worth $9,615,000 after purchasing an additional 535,557 shares during the period. 38.96% of the stock is owned by institutional investors and hedge funds.

C3.ai Company Profile

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.