C3.ai (NYSE:AI) CEO Thomas Siebel Sells 97,913 Shares of Stock

C3.ai, Inc. (NYSE:AI) CEO Thomas Siebel sold 97,913 shares of C3.ai stock in a transaction dated Wednesday, November 11th. The stock was sold at an average price of $12.14, for a total transaction of $1,188,663.82. Following the transaction, the chief executive officer owned 722,362 shares of the company’s stock, valued at approximately $8,769,474.68. The trade was a 11.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

C3.ai Stock Down 0.7%

Shares of NYSE AI opened at $12.10 on Friday. The firm’s 50-day moving average is $11.34 and its two-hundred day moving average is $10.03. C3.ai, Inc. has a 12-month low of $7.68 and a 12-month high of $16.40.

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, topping analysts’ consensus estimates 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 analysts’ expectations of $52.06 million. During the same period last year, the company posted ($0.37) EPS. The company’s revenue was down 25.4% on a year-over-year basis. As a group, equities analysts predict that C3.ai, Inc. will post -2.20 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have weighed in on AI. Canaccord Genuity Group reissued a “hold” rating and set a $10.00 price target on shares of C3.ai in a research report on Thursday, September 3rd. Northland Securities upgraded C3.ai from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $10.00 to $16.00 in a research report on Monday, October 12th. Wall Street Zen raised C3.ai from a “sell” rating to a “hold” rating in a research note on Sunday, October 11th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of C3.ai in a research note on Monday, November 2nd. Finally, Citigroup reiterated a “market perform” rating on shares of C3.ai in a research report on Thursday, September 3rd. Two investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and seven have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus target price of $9.62.

Hedge Funds Weigh In On C3.ai

Institutional investors and hedge funds have recently modified their holdings of the company. AlphaGrep UK Ltd acquired a new stake in C3.ai during the third quarter worth approximately $194,000. First Trust Advisors LP boosted its holdings in shares of C3.ai by 10.0% during the third quarter. First Trust Advisors LP now owns 1,118,432 shares of the company’s stock worth $12,292,000 after purchasing an additional 101,857 shares during the last quarter. Private Advisor Group LLC boosted its holdings in shares of C3.ai by 12.2% during the third quarter. Private Advisor Group LLC now owns 17,069 shares of the company’s stock worth $188,000 after purchasing an additional 1,856 shares during the last quarter. Voya Investment Management LLC boosted its holdings in shares of C3.ai by 3.4% during the third quarter. Voya Investment Management LLC now owns 27,690 shares of the company’s stock worth $304,000 after purchasing an additional 911 shares during the last quarter. Finally, Edgestream Partners L.P. acquired a new stake in shares of C3.ai during the third quarter worth $2,026,000. Hedge funds and other institutional investors own 38.96% of the company’s stock.

C3.ai Company Profile

C3.ai, Inc. is an enterprise software company that develops artificial intelligence applications and tools for businesses and government organizations. Its offerings are designed to help customers use data to address operational and analytical needs across industries including energy, manufacturing, financial services, healthcare and defense. The company’s products include the C3 AI Platform, which provides tools for developing, deploying and operating AI applications using enterprise data, as well as ready-made applications for use cases such as predictive maintenance, supply chain management and fraud detection.