Insider Selling: C3.ai (NYSE:AI) Chairman Sells 392,064 Shares of Stock

C3.ai, Inc. (NYSE:AI) Chairman Thomas Siebel sold 392,064 shares of the company’s stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $14.37, for a total value of $5,633,959.68. Following the transaction, the chairman owned 1,082,613 shares of the company’s stock, valued at approximately $15,557,148.81. The trade was a 26.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

C3.ai Price Performance

Shares of NYSE AI traded down $0.27 during midday trading on Thursday, hitting $13.78. 4,756,944 shares of the company’s stock were exchanged, compared to its average volume of 6,565,780. C3.ai, Inc. has a twelve month low of $12.59 and a twelve month high of $39.64. The firm has a market cap of $1.90 billion, a P/E ratio of -4.87 and a beta of 1.97. The stock’s 50 day moving average price is $15.82 and its 200-day moving average price is $19.58.

C3.ai (NYSE:AI) last announced its earnings results on Wednesday, December 3rd. The company reported ($0.25) earnings per share for the quarter, beating the consensus estimate of ($0.33) by $0.08. C3.ai had a negative return on equity of 46.51% and a negative net margin of 108.06%.The firm had revenue of $75.15 million for the quarter, compared to the consensus estimate of $74.86 million. During the same quarter in the previous year, the business earned ($0.06) EPS. The firm’s revenue for the quarter was down 20.3% on a year-over-year basis. On average, analysts expect that C3.ai, Inc. will post -2.44 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in AI. Silicon Valley Capital Partners acquired a new stake in shares of C3.ai during the 2nd quarter valued at $25,000. Larson Financial Group LLC grew its holdings in shares of C3.ai by 683.6% in the 3rd quarter. Larson Financial Group LLC now owns 1,481 shares of the company’s stock worth $26,000 after acquiring an additional 1,292 shares during the last quarter. Parallel Advisors LLC raised its position in shares of C3.ai by 76.4% during the third quarter. Parallel Advisors LLC now owns 1,849 shares of the company’s stock worth $32,000 after purchasing an additional 801 shares during the period. Financial Consulate Inc. purchased a new stake in shares of C3.ai during the third quarter valued at $36,000. Finally, Clearstead Advisors LLC boosted its position in shares of 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 purchasing an additional 863 shares during the period. Institutional investors and hedge funds own 38.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. JMP Securities decreased their target price on shares of C3.ai from $30.00 to $24.00 and set a “market outperform” rating for the company in a research report on Thursday, September 4th. Needham & Company LLC reiterated a “hold” rating on shares of C3.ai in a report on Thursday, December 4th. KeyCorp lowered their price objective on shares of C3.ai from $18.00 to $10.00 and set an “underweight” rating on the stock in a research note on Thursday, September 4th. Canaccord Genuity Group restated a “hold” rating and issued a $16.00 target price on shares of C3.ai in a research report on Thursday, December 4th. Finally, DA Davidson reaffirmed an “underperform” rating and set a $13.00 price target on shares of C3.ai in a research note on Thursday, December 4th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, seven have assigned a Hold rating and five have assigned a Sell rating to the stock. According to MarketBeat.com, C3.ai presently 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.