C3.ai (NYSE:AI) CEO Thomas Siebel Sells 162,247 Shares

C3.ai, Inc. (NYSE:AI) CEO Thomas Siebel sold 162,247 shares of the firm’s stock in a transaction dated Wednesday, September 16th. The stock was sold at an average price of $10.54, for a total transaction of $1,710,083.38. Following the completion of the sale, the chief executive officer owned 722,362 shares of the company’s stock, valued at $7,613,695.48. This trade represents a 18.34% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

C3.ai Stock Up 2.0%

NYSE:AI traded up $0.21 during mid-day trading on Thursday, hitting $10.78. 2,933,672 shares of the stock traded hands, compared to its average volume of 6,048,491. The stock has a market capitalization of $1.67 billion, a price-to-earnings ratio of -3.50 and a beta of 2.10. C3.ai, Inc. has a 52 week low of $7.68 and a 52 week high of $20.22. The firm’s 50 day moving average is $9.79 and its two-hundred day moving average is $9.45.

C3.ai (NYSE:AI) last announced its quarterly earnings data on Wednesday, September 2nd. The company reported ($0.20) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.26) by $0.06. C3.ai had a negative net margin of 192.10% and a negative return on equity of 61.25%. The business had revenue of $52.38 million during the quarter, compared to the consensus estimate of $52.06 million. During the same quarter last year, the firm earned ($0.37) earnings per share. The firm’s quarterly revenue was down 25.4% compared to the same quarter last year. As a group, research analysts predict that C3.ai, Inc. will post -2.22 EPS for the current year.

Analyst Ratings Changes

A number of brokerages recently issued reports on AI. Citigroup reissued a “market perform” rating on shares of C3.ai in a research note on Thursday, September 3rd. Wall Street Zen upgraded C3.ai from a “sell” rating to a “hold” rating in a research note on Sunday. KeyCorp reiterated an “underweight” rating on shares of C3.ai in a research report on Thursday, June 4th. Weiss Ratings upgraded shares of C3.ai from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, August 4th. Finally, Canaccord Genuity Group reiterated a “hold” rating and set a $10.00 price objective on shares of C3.ai in a report on Thursday, September 3rd. One research analyst has rated the stock with a Buy rating, four have given a Hold rating and seven have issued a Sell rating to the company. According to data from MarketBeat.com, C3.ai presently has an average rating of “Reduce” and an average price target of $8.70.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Bank of America Corp DE raised its holdings in shares of C3.ai by 55.1% in the 1st quarter. Bank of America Corp DE now owns 3,282,183 shares of the company’s stock valued at $27,636,000 after purchasing an additional 1,166,302 shares in the last quarter. First Trust Advisors LP boosted its stake in shares of C3.ai by 67.3% during the first quarter. First Trust Advisors LP now owns 1,215,341 shares of the company’s stock valued at $10,233,000 after purchasing an additional 488,710 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in C3.ai by 0.8% during the first quarter. Bank of New York Mellon Corp now owns 690,694 shares of the company’s stock valued at $5,816,000 after buying an additional 5,631 shares during the period. Edgestream Partners L.P. raised its stake in C3.ai by 247.5% in the first quarter. Edgestream Partners L.P. now owns 658,573 shares of the company’s stock worth $5,545,000 after buying an additional 469,057 shares in the last quarter. Finally, EVR Research LP raised its stake in C3.ai by 223.8% in the fourth quarter. EVR Research LP now owns 600,400 shares of the company’s stock worth $8,093,000 after buying an additional 415,000 shares in the last quarter. Hedge funds and other institutional investors own 38.96% of the company’s stock.

C3.ai Company Profile

C3.ai, Inc develops enterprise artificial intelligence software and applications for organizations in a range of industries. Its technology is designed to help businesses use data, machine learning and predictive analytics to address operational, financial and strategic challenges.

The company’s offerings include the C3 AI Platform, which provides tools for developing, deploying and operating AI applications, as well as prebuilt applications for use cases such as predictive maintenance, fraud detection, supply-chain optimization, customer engagement, energy management and regulatory compliance.