Thomas Siebel Sells 282,001 Shares of C3.ai (NYSE:AI) Stock

by · The Cerbat Gem

C3.ai, Inc. (NYSE:AI – Get Free Report) CEO Thomas Siebel sold 282,001 shares of C3.ai stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $10.90, for a total transaction of $3,073,810.90. Following the transaction, the chief executive officer directly owned 722,362 shares in the company, valued at $7,873,745.80. The trade was a 28.08% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

C3.ai Price Performance

AI traded up $0.21 during mid-day trading on Thursday, hitting $10.78. The stock had a trading volume of 2,933,672 shares, compared to its average volume of 6,048,491. The stock’s fifty day simple moving average is $9.79 and its 200-day simple moving average is $9.45. The firm has a market capitalization of $1.67 billion, a price-to-earnings ratio of -3.50 and a beta of 2.10. C3.ai, Inc. has a 1-year low of $7.68 and a 1-year high of $20.22.

C3.ai (NYSE:AI – Get Free Report) last announced its quarterly earnings results on Wednesday, September 2nd. The company reported ($0.20) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.26) by $0.06. The company had revenue of $52.38 million during the quarter, compared to analyst estimates of $52.06 million. C3.ai had a negative net margin of 192.10% and a negative return on equity of 61.25%. The firm’s revenue was down 25.4% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.37) EPS. As a group, research analysts expect that C3.ai, Inc. will post -2.22 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have issued reports on AI shares. UBS Group reissued an “underperform” rating on shares of C3.ai in a research note on Tuesday, September 1st. Needham & Company LLC restated a “hold” rating on shares of C3.ai in a research note on Thursday, September 3rd. DA Davidson restated an “underperform” rating and set a $7.00 price objective on shares of C3.ai in a research note on Tuesday, September 1st. Wall Street Zen upgraded shares of C3.ai from a “sell” rating to a “hold” rating in a research note on Sunday. Finally, Morgan Stanley lifted their price target on C3.ai from $6.00 to $7.00 and gave the stock an “underweight” rating in a report on Thursday, June 4th. One investment analyst has rated the stock with a Buy rating, four have assigned a Hold rating and seven have given a Sell rating to the company. According to data from MarketBeat, C3.ai has an average rating of “Reduce” and a consensus price target of $8.70.

Read Our Latest Stock Analysis on C3.ai

Institutional Trading of C3.ai

Institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE boosted its position in shares of C3.ai by 55.1% in the first quarter. Bank of America Corp DE now owns 3,282,183 shares of the company’s stock valued at $27,636,000 after acquiring an additional 1,166,302 shares during the period. First Trust Advisors LP increased its position in C3.ai by 67.3% during the first quarter. First Trust Advisors LP now owns 1,215,341 shares of the company’s stock worth $10,233,000 after acquiring an additional 488,710 shares during the period. Bank of New York Mellon Corp raised its stake in C3.ai by 0.8% in the 1st quarter. Bank of New York Mellon Corp now owns 690,694 shares of the company’s stock worth $5,816,000 after purchasing an additional 5,631 shares in the last quarter. Edgestream Partners L.P. raised its stake in C3.ai by 247.5% in the 1st quarter. Edgestream Partners L.P. now owns 658,573 shares of the company’s stock worth $5,545,000 after purchasing an additional 469,057 shares in the last quarter. Finally, EVR Research LP boosted its holdings in C3.ai by 223.8% in the 4th quarter. EVR Research LP now owns 600,400 shares of the company’s stock valued at $8,093,000 after purchasing an additional 415,000 shares during the period. 38.96% of the stock is currently owned by institutional investors.

C3.ai Company Profile

(Get Free Report)

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.

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