Insider Selling: C3.ai (NYSE:AI) CEO Sells 162,247 Shares of Stock

Key Points

• C3.ai CEO Thomas Siebel sold 162,247 shares at an average price of $10.54, generating approximately $1.71 million. The sale occurred under a pre-arranged Rule 10b5-1 trading plan and reduced his direct ownership by 18.34% to 722,362 shares.
• C3.ai shares rose 2.0% to $10.78, while the company reported a quarterly loss of $0.20 per share—better than analysts’ expected loss of $0.26—and revenue of $52.38 million.
• Analyst sentiment remains cautious: the stock has a consensus “Reduce” rating, with one Buy, four Hold, and seven Sell ratings and an average price target of $8.70. Institutional investors own approximately 38.96% of the company.

C3.ai, Inc. (NYSE:AI - Get Free Report) CEO Thomas Siebel sold 162,247 shares of the business's stock in a transaction that occurred on Wednesday, September 16th. The stock was sold at an average price of $10.54, for a total value of $1,710,083.38. Following the completion of the transaction, the chief executive officer directly owned 722,362 shares in the company, valued at approximately $7,613,695.48. This represents a 18.34% decrease in their ownership of the stock. The transaction 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 2.0%

Shares of NYSE:AI traded up $0.21 during midday trading on Thursday, reaching $10.78. 2,933,672 shares of the company were exchanged, compared to its average volume of 6,048,491. The stock has a market cap of $1.67 billion, a PE ratio of -3.50 and a beta of 2.10. The business's fifty day moving average is $9.79 and its two-hundred day moving average is $9.45. C3.ai, Inc. has a one year low of $7.68 and a one 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 analysts' consensus estimates of ($0.26) by $0.06. The company had revenue of $52.38 million for the quarter, compared to the consensus estimate of $52.06 million. C3.ai had a negative net margin of 192.10% and a negative return on equity of 61.25%. C3.ai's revenue for the quarter was down 25.4% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.37) EPS. As a group, sell-side analysts expect that C3.ai, Inc. will post -2.22 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on AI shares. Morgan Stanley boosted their target price on C3.ai from $6.00 to $7.00 and gave the stock an "underweight" rating 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. Citizens Jmp reiterated a "market perform" rating on shares of C3.ai in a research report on Thursday, September 3rd. UBS Group reissued an "underperform" rating on shares of C3.ai in a report on Tuesday, September 1st. Finally, Wall Street Zen upgraded shares of C3.ai from a "sell" rating to a "hold" rating in a research report on Sunday. One investment analyst has rated the stock with a Buy rating, four have given a Hold rating and seven have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Reduce" and an average price target of $8.70.

Institutional Investors Weigh In On C3.ai

Several large investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada lifted its stake in shares of C3.ai by 418.7% in the 1st quarter. Royal Bank of Canada now owns 177,527 shares of the company's stock valued at $1,495,000 after purchasing an additional 143,303 shares during the last quarter. Renaissance Technologies LLC bought a new position in shares of C3.ai during the 1st quarter valued at approximately $934,000. Bank of America Corp DE increased its position in shares of C3.ai by 55.1% during the 1st quarter. Bank of America Corp DE now owns 3,282,183 shares of the company's stock valued at $27,636,000 after purchasing an additional 1,166,302 shares during the last quarter. First Trust Advisors LP raised its holdings in C3.ai by 67.3% during the 1st quarter. First Trust Advisors LP now owns 1,215,341 shares of the company's stock valued at $10,233,000 after buying an additional 488,710 shares during the period. Finally, Edgestream Partners L.P. raised its holdings in C3.ai by 247.5% during the 1st quarter. Edgestream Partners L.P. now owns 658,573 shares of the company's stock valued at $5,545,000 after buying an additional 469,057 shares during the period. 38.96% of the stock is owned by institutional investors.

C3.ai Company Profile

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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