Thomas Siebel Sells 392,064 Shares of C3.ai (NYSE:AI) Stock

C3.ai, Inc. (NYSE:AI) Chairman Thomas Siebel sold 392,064 shares of C3.ai stock in a transaction that occurred on Tuesday, December 16th. The stock was sold at an average price of $14.37, for a total transaction of $5,633,959.68. Following the completion of the sale, the chairman directly owned 1,082,613 shares in the company, valued at $15,557,148.81. This trade represents a 26.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

C3.ai Stock Up 4.7%

Shares of NYSE AI opened at $14.42 on Friday. The business has a 50-day simple moving average of $15.75 and a two-hundred day simple moving average of $19.51. The company has a market cap of $1.99 billion, a P/E ratio of -5.10 and a beta of 1.97. C3.ai, Inc. has a 52 week low of $12.59 and a 52 week high of $38.58.

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

Analysts Set New Price Targets

AI has been the topic of several analyst reports. Canaccord Genuity Group reaffirmed a “hold” rating and set a $16.00 price target on shares of C3.ai in a report on Thursday, December 4th. JMP Securities lowered their target price on C3.ai from $30.00 to $24.00 and set a “market outperform” rating for the company in a research report on Thursday, September 4th. Wedbush reiterated an “outperform” rating and issued a $20.00 target price on shares of C3.ai in a report on Thursday, December 4th. UBS Group lifted their price target on shares of C3.ai from $16.00 to $17.00 and gave the stock a “neutral” rating in a research note on Friday, September 12th. Finally, KeyCorp dropped their price objective on C3.ai from $18.00 to $10.00 and set an “underweight” rating for the company in a report on Thursday, September 4th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, seven have issued a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus target price of $21.92.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Geode Capital Management LLC lifted its position in C3.ai by 5.9% during the second quarter. Geode Capital Management LLC now owns 2,813,233 shares of the company’s stock worth $69,129,000 after buying an additional 156,925 shares during the period. 111 Capital purchased a new stake in C3.ai during the second quarter worth approximately $714,000. Perbak Capital Partners LLP purchased a new stake in C3.ai during the 1st quarter worth $341,000. Magnetar Financial LLC purchased a new stake in shares of C3.ai in the second quarter worth about $556,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in C3.ai by 1,481.6% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 502,173 shares of the company’s stock worth $12,338,000 after acquiring an additional 470,422 shares during the period. 38.96% of the stock is owned by institutional investors and hedge funds.

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.