Insider Selling: C3.ai (NYSE:AI) CEO Sells 112,014 Shares of Stock

C3.ai, Inc. (NYSE:AI) CEO Thomas Siebel sold 112,014 shares of the company’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $8.65, for a total value of $968,921.10. Following the sale, the chief executive officer owned 722,362 shares of the company’s stock, valued at approximately $6,248,431.30. This trade represents a 13.42% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

C3.ai Trading Up 1.0%

NYSE:AI traded up $0.09 during mid-day trading on Tuesday, hitting $8.84. 3,879,723 shares of the company’s stock traded hands, compared to its average volume of 6,078,713. The firm has a 50 day moving average of $8.83 and a two-hundred day moving average of $11.67. C3.ai, Inc. has a 12 month low of $7.68 and a 12 month high of $30.24. The firm has a market capitalization of $1.28 billion, a price-to-earnings ratio of -2.80 and a beta of 2.00.

C3.ai (NYSE:AI) last announced its earnings results on Wednesday, February 25th. The company reported ($0.40) earnings per share for the quarter, missing the consensus estimate of ($0.29) by ($0.11). C3.ai had a negative net margin of 141.35% and a negative return on equity of 55.40%. The business had revenue of $53.26 million for the quarter, compared to the consensus estimate of $75.91 million. During the same quarter in the previous year, the company earned ($0.12) EPS. C3.ai’s revenue for the quarter was down 46.1% compared to the same quarter last year. As a group, equities research analysts expect that C3.ai, Inc. will post -3.22 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Wolfe Research restated an “underperform” rating and set a $6.00 target price on shares of C3.ai in a research note on Thursday, February 26th. DA Davidson restated an “underperform” rating and set a $7.00 target price on shares of C3.ai in a research note on Wednesday, May 13th. JPMorgan Chase & Co. decreased their target price on C3.ai from $10.00 to $7.00 and set an “underweight” rating for the company in a research note on Thursday, February 26th. KeyCorp decreased their target price on C3.ai from $10.00 to $6.00 and set an “underweight” rating for the company in a research note on Thursday, February 26th. Finally, Bank of America set a $10.00 target price on C3.ai in a research note on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, seven have issued a Hold rating and six have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus price target of $15.93.

Hedge Funds Weigh In On C3.ai

Several large investors have recently added to or reduced their stakes in the company. NewEdge Advisors LLC raised its holdings in C3.ai by 48.7% in the 1st quarter. NewEdge Advisors LLC now owns 2,442 shares of the company’s stock valued at $51,000 after acquiring an additional 800 shares in the last quarter. Parallel Advisors LLC raised its holdings in C3.ai by 76.4% in the 3rd quarter. Parallel Advisors LLC now owns 1,849 shares of the company’s stock valued at $32,000 after acquiring an additional 801 shares in the last quarter. BOKF NA raised its holdings in C3.ai by 20.7% in the 3rd quarter. BOKF NA now owns 4,709 shares of the company’s stock valued at $82,000 after acquiring an additional 809 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in C3.ai by 66.1% in the 4th quarter. Farther Finance Advisors LLC now owns 2,141 shares of the company’s stock valued at $29,000 after acquiring an additional 852 shares in the last quarter. Finally, Clearstead Advisors LLC raised its holdings in 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 acquiring an additional 863 shares in the last quarter. Institutional investors and hedge funds own 38.96% of the company’s stock.

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.