Key Points
- Chairman Thomas Siebel sold 17,000 C3.ai shares on Dec. 2 at an average price of $14.21 for $241,570, leaving him with 15,736 shares — a 51.93% reduction in his position.
- C3.ai beat EPS estimates with ($0.25) vs. ($0.33) expected, but revenue fell 20.3% year-over-year to $75.15 million and the company remains unprofitable with a -92.08% net margin.
- Analysts have largely downgraded the stock (consensus rating: Reduce, average target $22.09) even as institutional investors hold roughly 39% of the shares.
C3.ai, Inc. (NYSE:AI - Get Free Report) Chairman Thomas Siebel sold 17,000 shares of the firm's stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $14.21, for a total value of $241,570.00. Following the completion of the sale, the chairman directly owned 15,736 shares of the company's stock, valued at $223,608.56. This trade represents a 51.93% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.
C3.ai Stock Up 4.7%
Shares of AI opened at $15.05 on Thursday. The business's fifty day moving average is $16.52 and its 200 day moving average is $20.22. C3.ai, Inc. has a 12-month low of $12.59 and a 12-month high of $45.08. The stock has a market cap of $2.07 billion, a P/E ratio of -5.79 and a beta of 1.97.
C3.ai (NYSE:AI - Get Free Report) last released its quarterly earnings data on Wednesday, December 3rd. The company reported ($0.25) earnings per share for the quarter, topping the consensus estimate of ($0.33) by $0.08. C3.ai had a negative net margin of 92.08% and a negative return on equity of 40.69%. The firm had revenue of $75.15 million for the quarter, compared to the consensus estimate of $74.86 million. During the same quarter in the prior year, the company posted ($0.06) earnings per share. The business's revenue was down 20.3% on a year-over-year basis. On average, analysts expect that C3.ai, Inc. will post -2.44 EPS for the current year.
Wall Street Analyst Weigh In
Several brokerages have recently issued reports on AI. DA Davidson restated an "underperform" rating and set a $13.00 price target (down previously from $25.00) on shares of C3.ai in a research note on Monday, August 11th. Weiss Ratings reiterated a "sell (d-)" rating on shares of C3.ai in a research note on Wednesday, October 8th. Wall Street Zen cut shares of C3.ai from a "hold" rating to a "sell" rating in a research note on Saturday, August 16th. Morgan Stanley cut their price objective on shares of C3.ai from $22.00 to $11.00 and set an "underweight" rating for the company in a report on Tuesday, September 9th. Finally, Northland Securities cut shares of C3.ai from an "outperform" rating to a "market perform" rating and set a $17.00 target price on the stock. in a report on Tuesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, seven have assigned a Hold rating and five have given a Sell rating to the company. According to MarketBeat.com, C3.ai has a consensus rating of "Reduce" and an average target price of $22.09.
Check Out Our Latest Analysis on C3.ai
Institutional Trading of C3.ai
Several hedge funds have recently added to or reduced their stakes in AI. Vanguard Group Inc. lifted its stake in shares of C3.ai by 1.1% in the 3rd quarter. Vanguard Group Inc. now owns 14,361,942 shares of the company's stock valued at $249,036,000 after acquiring an additional 162,515 shares during the last quarter. State Street Corp lifted its position in shares of C3.ai by 4.3% in the second quarter. State Street Corp now owns 2,826,249 shares of the company's stock valued at $69,441,000 after acquiring an additional 116,611 shares in the last quarter. Geode Capital Management LLC boosted its stake in C3.ai by 5.9% in the 2nd quarter. Geode Capital Management LLC now owns 2,813,233 shares of the company's stock worth $69,129,000 after purchasing an additional 156,925 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in C3.ai by 9.6% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,425,976 shares of the company's stock valued at $42,066,000 after acquiring an additional 211,786 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of C3.ai by 77.1% in the third quarter. Dimensional Fund Advisors LP now owns 1,804,188 shares of the company's stock worth $31,284,000 after buying an additional 785,508 shares in the last quarter. 38.96% of the stock is owned by institutional investors.
C3.ai Company Profile
(
Get Free Report)
C3.ai, Inc operates as an enterprise artificial intelligence (AI) software company in North America, Europe, the Middle East, Africa, the Asia Pacific, and internationally. The company provides C3 AI platform, an application development and runtime environment that enables customers to design, develop, and deploy enterprise AI applications; C3 AI Ex Machina for analysis-ready data; C3 AI CRM, an industry specific customer relationship management solution; and C3 Generative AI Product Suite that enables to locate, retrieve, and present information.
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