C3.ai (NYSE:AI) Stock: Insider Thomas Siebel Sells 97,913 Shares

Key Points

• CEO Thomas Siebel sold 97,913 C3.ai shares for about $1.19 million at an average price of $12.14, reducing his stake by 11.94%. The transaction was made under a pre-arranged Rule 10b5-1 trading plan.
• C3.ai reported quarterly adjusted losses of $0.20 per share, better than the $0.26 loss analysts expected, and revenue of $52.38 million, slightly ahead of estimates. However, revenue fell 25.4% year over year.
• Analyst sentiment is cautious: MarketBeat’s consensus rating is “Reduce,” with an average price target of $9.62; seven analysts rate the stock Sell, five Hold, and two Buy.

C3.ai, Inc. (NYSE:AI - Get Free Report) CEO Thomas Siebel sold 97,913 shares of the company's stock in a transaction on Wednesday, November 11th. The stock was sold at an average price of $12.14, for a total transaction of $1,188,663.82. Following the completion of the transaction, the chief executive officer owned 722,362 shares of the company's stock, valued at $8,769,474.68. This trade represents a 11.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

C3.ai Stock Performance

AI traded down $0.09 during trading on Thursday, reaching $12.10. The stock had a trading volume of 3,429,074 shares, compared to its average volume of 5,804,681. The business has a 50-day moving average of $11.30 and a 200-day moving average of $10.03. C3.ai, Inc. has a one year low of $7.68 and a one year high of $16.40. The stock has a market cap of $1.95 billion, a PE ratio of -3.93 and a beta of 2.17.

C3.ai (NYSE:AI - Get Free Report) last issued its quarterly earnings results on Wednesday, September 2nd. The company reported ($0.20) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.26) by $0.06. C3.ai had a negative return on equity of 61.25% and a negative net margin of 192.10%. The firm had revenue of $52.38 million during the quarter, compared to analyst estimates of $52.06 million. During the same quarter in the previous year, the company posted ($0.37) earnings per share. The company's revenue was down 25.4% compared to the same quarter last year. Equities research analysts forecast that C3.ai, Inc. will post -2.20 EPS for the current fiscal year.

Institutional Investors Weigh In On C3.ai

Hedge funds and other institutional investors have recently modified their holdings of the stock. AlphaGrep UK Ltd purchased a new position in C3.ai in the 3rd quarter worth approximately $194,000. First Trust Advisors LP increased its stake in shares of C3.ai by 10.0% in the third quarter. First Trust Advisors LP now owns 1,118,432 shares of the company's stock worth $12,292,000 after buying an additional 101,857 shares during the period. Private Advisor Group LLC increased its stake in shares of C3.ai by 12.2% in the third quarter. Private Advisor Group LLC now owns 17,069 shares of the company's stock worth $188,000 after buying an additional 1,856 shares during the period. Voya Investment Management LLC raised its holdings in C3.ai by 3.4% during the 3rd quarter. Voya Investment Management LLC now owns 27,690 shares of the company's stock valued at $304,000 after buying an additional 911 shares during the last quarter. Finally, Edgestream Partners L.P. bought a new stake in C3.ai during the 3rd quarter valued at $2,026,000. Institutional investors own 38.96% of the company's stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. UBS Group restated an "underperform" rating on shares of C3.ai in a research report on Tuesday, September 1st. DA Davidson reiterated an "underperform" rating and set a $7.00 price target on shares of C3.ai in a research report on Tuesday, September 1st. Weiss Ratings reiterated a "sell (d-)" rating on shares of C3.ai in a research report on Monday, November 2nd. Citizens Jmp reissued a "market perform" rating on shares of C3.ai in a research note on Tuesday, September 29th. Finally, Northland Securities upgraded shares of C3.ai from a "market perform" rating to an "outperform" rating and boosted their price objective for the stock from $10.00 to $16.00 in a report on Monday, October 12th. Two analysts have rated the stock with a Buy rating, five have given a Hold rating and seven have assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Reduce" and an average target price of $9.62.

C3.ai Company Profile

C3.ai, Inc. is an enterprise software company that develops artificial intelligence applications and tools for businesses and government organizations. Its offerings are designed to help customers use data to address operational and analytical needs across industries including energy, manufacturing, financial services, healthcare and defense. The company's products include the C3 AI Platform, which provides tools for developing, deploying and operating AI applications using enterprise data, as well as ready-made applications for use cases such as predictive maintenance, supply chain management and fraud detection.

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