C3.ai (NYSE:AI) CEO Sells $1,340,595.00 in Stock

C3.ai, Inc. (NYSE:AI) CEO Thomas Siebel sold 139,500 shares of C3.ai stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $9.61, for a total transaction of $1,340,595.00. Following the sale, the chief executive officer directly owned 866,196 shares in the company, valued at approximately $8,324,143.56. This trade represents a 13.87% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

C3.ai Stock Down 0.6%

Shares of NYSE AI opened at $9.85 on Friday. The firm has a 50-day simple moving average of $9.61 and a 200-day simple moving average of $9.64. The stock has a market capitalization of $1.53 billion, a price-to-earnings ratio of -2.95 and a beta of 2.08. C3.ai, Inc. has a 52 week low of $7.68 and a 52 week high of $23.68.

C3.ai (NYSE:AI) last posted its quarterly earnings results on Wednesday, June 3rd. The company reported ($0.33) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.38) by $0.05. The firm had revenue of $51.60 million for the quarter, compared to analyst estimates of $51.60 million. C3.ai had a negative net margin of 187.95% and a negative return on equity of 62.44%. During the same period in the previous year, the business posted ($0.16) earnings per share. C3.ai’s quarterly revenue was down 52.5% on a year-over-year basis. As a group, equities research analysts expect that C3.ai, Inc. will post -2.28 EPS for the current year.

Analyst Upgrades and Downgrades

AI has been the topic of a number of recent research reports. Canaccord Genuity Group boosted their price objective on C3.ai from $8.00 to $10.00 and gave the stock a “hold” rating in a research note on Thursday, June 4th. KeyCorp reaffirmed an “underweight” rating on shares of C3.ai in a research note on Thursday, June 4th. DA Davidson reissued an “underperform” rating and set a $7.00 price target on shares of C3.ai in a research report on Thursday, June 4th. Morgan Stanley raised their price objective on shares of C3.ai from $6.00 to $7.00 and gave the stock an “underweight” rating in a research report on Thursday, June 4th. Finally, Citizens Jmp reaffirmed a “market perform” rating on shares of C3.ai in a research note on Thursday, June 4th. One equities research analyst has rated the stock with a Buy rating, six have assigned a Hold rating and six have issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and an average price target of $10.67.

Institutional Trading of C3.ai

Several institutional investors and hedge funds have recently bought and sold shares of the stock. NewEdge Advisors LLC increased its stake in C3.ai by 48.7% during the first quarter. NewEdge Advisors LLC now owns 2,442 shares of the company’s stock worth $51,000 after purchasing an additional 800 shares during the period. Parallel Advisors LLC boosted its stake in shares of C3.ai by 76.4% in 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 period. BOKF NA grew its holdings in shares of C3.ai by 20.7% in the third quarter. BOKF NA now owns 4,709 shares of the company’s stock valued at $82,000 after purchasing an additional 809 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in shares of C3.ai by 66.1% in 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 in the last quarter. Finally, Geneos Wealth Management Inc. increased its stake in C3.ai by 29.6% during the 4th quarter. Geneos Wealth Management Inc. now owns 4,373 shares of the company’s stock worth $59,000 after buying an additional 1,000 shares during the period. 38.96% of the stock is currently owned by hedge funds and other institutional investors.

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.