C3.ai (NYSE:AI) Chairman Sells $1,403,210.22 in Stock

C3.ai, Inc. (NYSE:AI) Chairman Thomas Siebel sold 165,278 shares of the company’s stock in a transaction that occurred on Tuesday, April 14th. The stock was sold at an average price of $8.49, for a total value of $1,403,210.22. Following the transaction, the chairman owned 722,362 shares in the company, valued at $6,132,853.38. This trade represents a 18.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

C3.ai Stock Performance

AI stock opened at $9.21 on Friday. C3.ai, Inc. has a fifty-two week low of $7.68 and a fifty-two week high of $30.24. The business’s 50 day moving average price is $9.21 and its two-hundred day moving average price is $13.00. The company has a market capitalization of $1.34 billion, a price-to-earnings ratio of -2.92 and a beta of 2.08.

C3.ai (NYSE:AI) last posted its earnings results on Wednesday, February 25th. The company reported ($0.40) earnings per share 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 for the quarter, compared to analysts’ expectations of $75.91 million. During the same quarter last year, the company posted ($0.12) EPS. The firm’s revenue was down 46.1% on a year-over-year basis. Sell-side analysts forecast that C3.ai, Inc. will post -2.44 earnings per share for the current year.

Institutional Investors Weigh In On C3.ai

Several hedge funds have recently added to or reduced their stakes in AI. Dimensional Fund Advisors LP boosted its holdings in C3.ai by 77.1% in the third quarter. Dimensional Fund Advisors LP now owns 1,804,188 shares of the company’s stock worth $31,284,000 after acquiring an additional 785,508 shares in the last quarter. Two Sigma Investments LP purchased a new stake in C3.ai during the 3rd quarter valued at $13,379,000. Voloridge Investment Management LLC purchased a new stake in C3.ai during the 4th quarter valued at $9,183,000. Federated Hermes Inc. boosted its stake in C3.ai by 93,578.8% during the 4th quarter. Federated Hermes Inc. now owns 675,424 shares of the company’s stock valued at $9,105,000 after purchasing an additional 674,703 shares during the last quarter. Finally, Quantbot Technologies LP boosted its stake in C3.ai by 2,831.4% during the 3rd quarter. Quantbot Technologies LP now owns 554,472 shares of the company’s stock valued at $9,615,000 after purchasing an additional 535,557 shares during the last quarter. 38.96% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on AI shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of C3.ai in a research note on Wednesday, January 21st. Canaccord Genuity Group dropped their target price on C3.ai from $16.00 to $7.00 and set a “hold” rating on the stock in a report on Thursday, February 26th. Wolfe Research reissued an “underperform” rating and issued a $6.00 target price on shares of C3.ai in a report on Thursday, February 26th. Citizens Jmp downgraded C3.ai from an “outperform” rating to a “market perform” rating in a report on Thursday, February 26th. Finally, KeyCorp dropped their target price on C3.ai from $10.00 to $6.00 and set an “underweight” rating on the stock in a report on Thursday, February 26th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, seven have assigned a Hold rating and six have issued a Sell rating to the stock. According to MarketBeat.com, C3.ai has a consensus rating of “Reduce” and an average price target of $15.87.

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.