C3.ai (NYSE:AI) Chairman Thomas Siebel Sells 326,189 Shares of Stock

C3.ai, Inc. (NYSE:AI) Chairman Thomas Siebel sold 326,189 shares of the stock in a transaction dated Monday, April 13th. The stock was sold at an average price of $8.31, for a total transaction of $2,710,630.59. Following the completion of the sale, the chairman directly owned 722,362 shares in the company, valued at approximately $6,002,828.22. The trade was a 31.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

C3.ai Trading Up 13.5%

Shares of C3.ai stock opened at $9.54 on Thursday. C3.ai, Inc. has a 12-month low of $7.68 and a 12-month high of $30.24. The company has a market cap of $1.39 billion, a price-to-earnings ratio of -3.03 and a beta of 2.08. The company’s 50-day moving average price is $9.27 and its 200-day moving average price is $13.08.

C3.ai (NYSE:AI) last announced its quarterly earnings results on Wednesday, February 25th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.11). C3.ai had a negative return on equity of 55.40% and a negative net margin of 141.35%.The firm had revenue of $53.26 million during the quarter, compared to analysts’ expectations of $75.91 million. During the same period in the previous year, the company posted ($0.12) earnings per share. The company’s quarterly revenue was down 46.1% compared to the same quarter last year. On average, sell-side analysts predict that C3.ai, Inc. will post -2.44 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on AI. BMO Capital Markets set a $7.00 price target on shares of C3.ai in a report on Thursday, February 26th. UBS Group restated a “reduce” rating on shares of C3.ai in a research report on Thursday, February 26th. Bank of America set a $10.00 price objective on shares of C3.ai in a research report on Friday, January 30th. Wolfe Research restated an “underperform” rating and issued a $6.00 price objective on shares of C3.ai in a research report on Thursday, February 26th. Finally, Canaccord Genuity Group decreased their price objective on shares of C3.ai from $16.00 to $7.00 and set a “hold” rating on the stock in a research report on Thursday, February 26th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, seven have assigned a Hold rating and six have given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average price target of $15.87.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Larson Financial Group LLC increased 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 worth $26,000 after purchasing an additional 1,292 shares during the last quarter. Parallel Advisors LLC boosted its stake in C3.ai by 76.4% in the third quarter. Parallel Advisors LLC now owns 1,849 shares of the company’s stock worth $32,000 after buying an additional 801 shares in the last quarter. Financial Consulate Inc. purchased a new stake in C3.ai in the third quarter worth approximately $36,000. Farther Finance Advisors LLC boosted its stake in C3.ai by 66.1% in the fourth quarter. Farther Finance Advisors LLC now owns 2,141 shares of the company’s stock worth $29,000 after buying an additional 852 shares in the last quarter. Finally, Clearstead Advisors LLC boosted its stake in C3.ai by 58.0% in the third quarter. Clearstead Advisors LLC now owns 2,350 shares of the company’s stock worth $41,000 after buying an additional 863 shares in the last quarter. 38.96% of the stock is currently owned by institutional investors.

About C3.ai

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.