C3.ai (NYSE:AI) Chairman Thomas Siebel Sells 23,435 Shares

Key Points

• Thomas Siebel sold 23,435 C3.ai shares on March 12 at an average price of $9.11, trimming his position by 3.05% to 743,693 shares (worth about $6.78M).
• C3.ai missed on the latest quarter with EPS of ($0.40) vs. ($0.29) expected and revenue of $53.26M vs. $75.91M expected, a 46.1% year-over-year revenue drop and deeply negative margins and ROE.
• Analyst sentiment is weak—MarketBeat shows an average rating of "Reduce" (average target $15.87)—while the stock trades around $8.91 with a market cap near $1.25B.

C3.ai, Inc. (NYSE:AI - Get Free Report) Chairman Thomas Siebel sold 23,435 shares of the company's stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $9.11, for a total value of $213,492.85. Following the transaction, the chairman directly owned 743,693 shares of the company's stock, valued at $6,775,043.23. The trade was a 3.05% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

C3.ai Trading Up 0.4%

Shares of AI stock traded up $0.04 during trading hours on Friday, reaching $8.91. The company's stock had a trading volume of 6,183,312 shares, compared to its average volume of 7,504,059. The stock has a market capitalization of $1.25 billion, a P/E ratio of -2.83 and a beta of 2.05. C3.ai, Inc. has a one year low of $7.72 and a one year high of $30.24. The firm's fifty day simple moving average is $11.27 and its 200 day simple moving average is $14.45.

C3.ai (NYSE:AI - Get Free Report) last posted its earnings results on Wednesday, February 25th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.29) by ($0.11). C3.ai had a negative net margin of 141.35% and a negative return on equity of 53.96%. The business had revenue of $53.26 million for the quarter, compared to analysts' expectations of $75.91 million. During the same period last year, the firm posted ($0.12) earnings per share. C3.ai's quarterly revenue was down 46.1% on a year-over-year basis. As a group, equities research analysts forecast that C3.ai, Inc. will post -2.44 earnings per share for the current fiscal year.

Institutional Trading of C3.ai

Hedge funds have recently modified their holdings of the business. Geode Capital Management LLC lifted its position in C3.ai by 5.9% during the 2nd quarter. Geode Capital Management LLC now owns 2,813,233 shares of the company's stock valued at $69,129,000 after acquiring an additional 156,925 shares during the period. Quantbot Technologies LP grew its holdings in C3.ai by 2,831.4% in the third quarter. Quantbot Technologies LP now owns 554,472 shares of the company's stock worth $9,615,000 after purchasing an additional 535,557 shares during the period. Magnetar Financial LLC purchased a new stake in C3.ai in the second quarter worth about $556,000. Dynamic Technology Lab Private Ltd bought a new position in shares of C3.ai during the second quarter valued at approximately $1,063,000. Finally, SG Americas Securities LLC lifted its holdings in shares of C3.ai by 1,149.9% during the third quarter. SG Americas Securities LLC now owns 178,846 shares of the company's stock valued at $3,101,000 after purchasing an additional 164,537 shares during the last quarter. Institutional investors own 38.96% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on AI shares. Citizens Jmp lowered shares of C3.ai from an "outperform" rating to a "market perform" rating in a report on Thursday, February 26th. UBS Group reiterated a "reduce" rating on shares of C3.ai in a research report on Thursday, February 26th. Bank of America set a $10.00 price target on shares of C3.ai in a research note on Friday, January 30th. DA Davidson lowered their price objective on shares of C3.ai from $13.00 to $7.00 and set an "underperform" rating for the company in a report on Thursday, February 26th. Finally, Canaccord Genuity Group cut their price objective on C3.ai from $16.00 to $7.00 and set a "hold" rating on the stock in a research report on Thursday, February 26th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, seven have given a Hold rating and six have issued a Sell rating to the stock. Based on data from MarketBeat.com, C3.ai has an average rating of "Reduce" and an average target price of $15.87.

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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