C3.ai (NYSE:AI) CEO Thomas Siebel Sells 139,500 Shares of Stock

Key Points

• CEO Thomas Siebel sold 139,500 C3.ai shares for approximately $1.34 million at an average price of $9.61. The sale was made to cover tax-withholding obligations tied to vested equity awards, leaving him with 866,196 shares.
• C3.ai reported a quarterly loss of $0.33 per share, slightly better than analyst expectations, but revenue fell 52.5% year over year to $51.6 million. Analysts expect a full-year loss of $2.28 per share.
• Analyst sentiment remains cautious, with the stock carrying a consensus “Reduce” rating and an average price target of $10.67; shares recently traded at $10.07.

C3.ai, Inc. (NYSE:AI - Get Free Report) CEO Thomas Siebel sold 139,500 shares of the business's stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $9.61, for a total value of $1,340,595.00. Following the sale, the chief executive officer directly owned 866,196 shares of the company's stock, valued at $8,324,143.56. This represents a 13.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

C3.ai Stock Performance

C3.ai stock traded up $0.34 during trading hours on Tuesday, reaching $10.07. 4,155,912 shares of the company's stock traded hands, compared to its average volume of 5,351,556. The firm has a market capitalization of $1.57 billion, a price-to-earnings ratio of -3.02 and a beta of 2.08. C3.ai, Inc. has a fifty-two week low of $7.68 and a fifty-two week high of $23.76. The firm's 50 day moving average is $9.61 and its 200-day moving average is $9.69.

C3.ai (NYSE:AI - Get Free Report) last issued its quarterly earnings results on Wednesday, June 3rd. The company reported ($0.33) EPS for the quarter, topping the consensus estimate of ($0.38) by $0.05. C3.ai had a negative net margin of 187.95% and a negative return on equity of 62.44%. The company had revenue of $51.60 million during the quarter, compared to analysts' expectations of $51.60 million. During the same quarter in the previous year, the company earned ($0.16) EPS. C3.ai's revenue was down 52.5% on a year-over-year basis. Analysts predict that C3.ai, Inc. will post -2.28 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Weiss Ratings lowered C3.ai from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Tuesday, June 16th. Citizens Jmp reissued a "market perform" rating on shares of C3.ai in a research note on Thursday, June 4th. DA Davidson restated an "underperform" rating and set a $7.00 target price on shares of C3.ai in a research report on Thursday, June 4th. Wedbush reaffirmed an "outperform" rating and issued a $15.00 price target on shares of C3.ai in a research note on Thursday, June 4th. Finally, Canaccord Genuity Group increased their price target on shares of C3.ai from $8.00 to $10.00 and gave the company a "hold" rating in a research report on Thursday, June 4th. One research analyst has rated the stock with a Buy rating, six have issued a Hold rating and six have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Reduce" and a consensus price target of $10.67.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Western Wealth Management LLC bought a new position in shares of C3.ai during the 1st quarter valued at about $26,000. Larson Financial Group LLC increased its stake 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 purchasing an additional 1,292 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in C3.ai by 66.1% during the 4th quarter. Farther Finance Advisors LLC now owns 2,141 shares of the company's stock worth $29,000 after buying an additional 852 shares during the period. Parallel Advisors LLC lifted its stake in C3.ai by 76.4% in the third quarter. Parallel Advisors LLC now owns 1,849 shares of the company's stock valued at $32,000 after buying an additional 801 shares in the last quarter. Finally, Comerica Bank lifted its stake in C3.ai by 839.1% in the fourth quarter. Comerica Bank now owns 2,423 shares of the company's stock valued at $33,000 after buying an additional 2,165 shares in the last quarter. 38.96% of the stock is owned by institutional investors and hedge funds.

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.

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