C3.ai (NYSE:AI) CEO Thomas Siebel Sells 453,314 Shares of Stock

Key Points

• CEO Thomas Siebel sold 453,314 C3.ai shares at an average price of $10.51, generating approximately $4.76 million. The Rule 10b5-1 transaction reduced his holdings by 38.56% to 722,362 shares.
• C3.ai’s latest quarter showed a narrower-than-expected loss of $0.33 per share, but revenue fell 52.5% year over year to $51.6 million and the company remains unprofitable.
• Analysts maintain a generally cautious outlook, with an average “Reduce” rating and a $10.09 price target; institutional investors own about 38.96% of the stock.

C3.ai, Inc. (NYSE:AI - Get Free Report) CEO Thomas Siebel sold 453,314 shares of C3.ai stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $10.51, for a total value of $4,764,330.14. Following the transaction, the chief executive officer owned 722,362 shares in the company, valued at approximately $7,592,024.62. The trade was a 38.56% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

C3.ai Trading Up 0.7%

NYSE AI traded up $0.07 on Thursday, reaching $10.15. 5,080,515 shares of the company were exchanged, compared to its average volume of 6,184,285. The business's fifty day moving average price is $9.55 and its 200 day moving average price is $9.57. The stock has a market capitalization of $1.58 billion, a P/E ratio of -3.04 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 $20.22.

C3.ai (NYSE:AI - Get Free Report) last posted 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 return on equity of 62.44% and a negative net margin of 187.95%.The business had revenue of $51.60 million for the quarter, compared to analyst estimates of $51.60 million. During the same quarter in the previous year, the firm earned ($0.16) EPS. The company's quarterly revenue was down 52.5% compared to the same quarter last year. Equities research analysts forecast that C3.ai, Inc. will post -2.28 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have recently commented on AI shares. Morgan Stanley lifted their price target on shares of C3.ai from $6.00 to $7.00 and gave the company an "underweight" rating in a research report on Thursday, June 4th. DA Davidson restated an "underperform" rating and issued a $7.00 target price on shares of C3.ai in a research report on Thursday, June 4th. KeyCorp reaffirmed an "underweight" rating on shares of C3.ai in a research note on Thursday, June 4th. UBS Group increased their price target on C3.ai from $9.00 to $12.00 and gave the stock a "neutral" rating in a report on Thursday, June 4th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of C3.ai in a report on Thursday, June 4th. One research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and six have given a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Reduce" and an average target price of $10.09.

Institutional Trading of C3.ai

A number of large investors have recently made changes to their positions in AI. Vanguard Group Inc. boosted its stake in C3.ai by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 14,469,953 shares of the company's stock valued at $195,055,000 after acquiring an additional 108,011 shares in the last quarter. First Trust Advisors LP boosted its holdings in shares of C3.ai by 67.3% in the first quarter. First Trust Advisors LP now owns 1,215,341 shares of the company's stock valued at $10,233,000 after acquiring an additional 488,710 shares during the period. Edgestream Partners L.P. grew its position in shares of C3.ai by 247.5% during the first quarter. Edgestream Partners L.P. now owns 658,573 shares of the company's stock worth $5,545,000 after acquiring an additional 469,057 shares during the last quarter. Zweig DiMenna Associates LLC acquired a new position in shares of C3.ai in the 1st quarter valued at $2,686,000. Finally, Atom Investors LP raised its position in C3.ai by 498.4% in the 4th quarter. Atom Investors LP now owns 374,371 shares of the company's stock valued at $5,047,000 after purchasing an additional 311,813 shares during the last quarter. 38.96% of the stock is currently owned by hedge funds and other institutional investors.

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.

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