Thomas Siebel Sells 22,780 Shares of C3.ai (NYSE:AI) Stock

C3.ai, Inc. (NYSE:AI) CEO Thomas Siebel sold 22,780 shares of the business’s stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $10.56, for a total value of $240,556.80. Following the completion of the sale, the chief executive officer owned 744,348 shares of the company’s stock, valued at $7,860,314.88. This trade represents a 2.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

C3.ai Stock Down 2.5%

AI opened at $10.52 on Thursday. The company’s 50-day moving average price is $9.79 and its 200 day moving average price is $9.45. The firm has a market cap of $1.64 billion, a price-to-earnings ratio of -3.42 and a beta of 2.10. C3.ai, Inc. has a fifty-two week low of $7.68 and a fifty-two week high of $20.22.

C3.ai (NYSE:AI) last issued its quarterly earnings data on Wednesday, September 2nd. The company reported ($0.20) earnings per share for the quarter, beating 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 firm had revenue of $52.38 million for the quarter, compared to the consensus estimate of $52.06 million. During the same period last year, the firm posted ($0.37) EPS. C3.ai’s quarterly revenue was down 25.4% compared to the same quarter last year. Research analysts anticipate that C3.ai, Inc. will post -2.22 earnings per share for the current year.

Wall Street Analyst Weigh In

AI has been the subject of several research reports. UBS Group reaffirmed an “underperform” rating on shares of C3.ai in a research note on Tuesday, September 1st. Citizens Jmp reiterated a “market perform” rating on shares of C3.ai in a report on Thursday, September 3rd. Weiss Ratings upgraded shares of C3.ai from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, August 4th. Citigroup reaffirmed a “market perform” rating on shares of C3.ai in a report on Thursday, September 3rd. Finally, Morgan Stanley raised their price objective on C3.ai from $6.00 to $7.00 and gave the stock an “underweight” rating in a research note on Thursday, June 4th. One investment analyst has rated the stock with a Buy rating, four have assigned a Hold rating and seven have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus price target of $8.70.

Hedge Funds Weigh In On C3.ai

Several institutional investors and hedge funds have recently added to or reduced their stakes in AI. Comerica Bank grew its holdings in shares of C3.ai by 839.1% during the fourth quarter. Comerica Bank now owns 2,423 shares of the company’s stock valued at $33,000 after buying an additional 2,165 shares in the last quarter. Western Wealth Management LLC purchased a new stake in C3.ai in the 1st quarter worth about $26,000. AdvisorNet Financial Inc acquired a new stake in C3.ai during the 1st quarter worth about $34,000. Eurizon Capital SGR S.p.A. acquired a new stake in C3.ai during the 4th quarter worth about $71,000. Finally, CoreCap Advisors LLC grew its stake in C3.ai by 34.0% during the 2nd quarter. CoreCap Advisors LLC now owns 6,145 shares of the company’s stock valued at $56,000 after acquiring an additional 1,560 shares in the last quarter. 38.96% of the stock is currently owned by hedge funds and other institutional investors.

About C3.ai

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.