Thomas Siebel Sells 140,768 Shares of C3.ai (NYSE:AI) Stock

C3.ai, Inc. (NYSE:AI) Chairman Thomas Siebel sold 140,768 shares of C3.ai stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $14.22, for a total value of $2,001,720.96. Following the sale, the chairman directly owned 941,845 shares in the company, valued at $13,393,035.90. The trade was a 13.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

C3.ai Trading Up 4.7%

Shares of NYSE AI opened at $14.42 on Friday. The firm has a market capitalization of $1.99 billion, a price-to-earnings ratio of -5.10 and a beta of 1.97. C3.ai, Inc. has a one year low of $12.59 and a one year high of $38.58. The business has a fifty day simple moving average of $15.75 and a 200 day simple moving average of $19.51.

C3.ai (NYSE:AI) last posted its quarterly earnings results on Wednesday, December 3rd. The company reported ($0.25) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.08. C3.ai had a negative net margin of 108.06% and a negative return on equity of 46.51%. The firm had revenue of $75.15 million for the quarter, compared to the consensus estimate of $74.86 million. During the same quarter in the previous year, the company earned ($0.06) earnings per share. The business’s revenue was down 20.3% compared to the same quarter last year. On average, research analysts anticipate that C3.ai, Inc. will post -2.44 earnings per share for the current fiscal year.

Hedge Funds Weigh In On C3.ai

A number of institutional investors and hedge funds have recently bought and sold shares of AI. Silicon Valley Capital Partners acquired a new stake in shares of C3.ai in the second quarter valued at $25,000. Larson Financial Group LLC grew its holdings in C3.ai by 683.6% during the 3rd quarter. Larson Financial Group LLC now owns 1,481 shares of the company’s stock worth $26,000 after acquiring an additional 1,292 shares during the last quarter. Parallel Advisors LLC increased its position 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. Financial Consulate Inc. bought a new position in shares of C3.ai in the third quarter worth about $36,000. Finally, Clearstead Advisors LLC lifted its position in shares of C3.ai by 58.0% during the third quarter. Clearstead Advisors LLC now owns 2,350 shares of the company’s stock worth $41,000 after purchasing an additional 863 shares in the last quarter. Institutional investors and hedge funds own 38.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. DA Davidson restated an “underperform” rating and set a $13.00 price target on shares of C3.ai in a research note on Thursday, December 4th. JMP Securities decreased their price target on C3.ai from $30.00 to $24.00 and set a “market outperform” rating on the stock in a research note on Thursday, September 4th. Weiss Ratings reiterated a “sell (d-)” rating on shares of C3.ai in a research report on Wednesday, October 8th. Canaccord Genuity Group reissued a “hold” rating and set a $16.00 price objective on shares of C3.ai in a report on Thursday, December 4th. Finally, UBS Group boosted their target price on shares of C3.ai from $16.00 to $17.00 and gave the company a “neutral” rating in a research note on Friday, September 12th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, seven have given a Hold rating and five have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average price target of $21.92.

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.