C3.ai (NYSE:AI) Chairman Thomas Siebel Sells 511,732 Shares of Stock

C3.ai, Inc. (NYSE:AI) Chairman Thomas Siebel sold 511,732 shares of the firm’s stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $11.66, for a total transaction of $5,966,795.12. Following the sale, the chairman owned 722,362 shares in the company, valued at approximately $8,422,740.92. This trade represents a 41.47% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

C3.ai Stock Down 4.1%

AI opened at $10.40 on Friday. The stock has a market cap of $1.46 billion, a PE ratio of -3.67 and a beta of 1.98. C3.ai, Inc. has a 52 week low of $9.99 and a 52 week high of $33.10. The business’s fifty day simple moving average is $13.33 and its 200 day simple moving average is $16.02.

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, topping the consensus estimate 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 analyst estimates of $74.86 million. During the same quarter in the previous year, the company posted ($0.06) earnings per share. The company’s revenue was down 20.3% compared to the same quarter last year. As a group, equities analysts anticipate that C3.ai, Inc. will post -2.44 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have commented on AI shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of C3.ai in a research report on Wednesday, January 21st. Wedbush reaffirmed an “outperform” rating and issued a $20.00 price objective on shares of C3.ai in a research note on Thursday, December 4th. DA Davidson reaffirmed an “underperform” rating and set a $13.00 target price on shares of C3.ai in a report on Thursday, December 4th. Canaccord Genuity Group reissued a “hold” rating and issued a $16.00 price target on shares of C3.ai in a research note on Thursday, December 4th. Finally, Needham & Company LLC restated a “hold” rating on shares of C3.ai in a research report on Thursday, December 4th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, six have given a Hold rating and five have given a Sell rating to the company. According to MarketBeat, C3.ai has an average rating of “Reduce” and a consensus price target of $21.00.

Hedge Funds Weigh In On C3.ai

Hedge funds have recently modified their holdings of the company. AQR Capital Management LLC boosted its holdings in shares of C3.ai by 267.9% during the first quarter. AQR Capital Management LLC now owns 181,354 shares of the company’s stock worth $3,788,000 after purchasing an additional 132,056 shares during the period. NewEdge Advisors LLC raised its position in C3.ai by 48.7% during the 1st quarter. NewEdge Advisors LLC now owns 2,442 shares of the company’s stock valued at $51,000 after purchasing an additional 800 shares during the last quarter. Woodline Partners LP bought a new position in C3.ai during the 1st quarter valued at approximately $346,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in C3.ai by 4.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 242,784 shares of the company’s stock worth $5,111,000 after buying an additional 10,675 shares during the period. Finally, Focus Partners Wealth grew its position in shares of C3.ai by 2.6% in the 1st quarter. Focus Partners Wealth now owns 59,004 shares of the company’s stock worth $1,242,000 after buying an additional 1,503 shares during the last quarter. Hedge funds and other institutional investors own 38.96% of the company’s stock.

About C3.ai

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.