Key Points
- Thomas Siebel sold 23,000 C3.ai shares on Dec. 12 at an average price of $15.94 for $366,620, trimming his holding by ~3% to 744,129 shares (worth about $11.86M).
- C3.ai's recent results show weakness: Q1 EPS of ($0.25) beat estimates but revenue fell 20.3% year-over-year to $75.15M, with a negative net margin (108.06%) and negative return on equity.
- Analyst sentiment is largely negative, with a MarketBeat consensus rating of "Reduce" and a $21.92 average target; Morgan Stanley notably cut its target to $11 and labeled the stock "underweight."
C3.ai, Inc. (NYSE:AI - Get Free Report) Chairman Thomas Siebel sold 23,000 shares of the firm's stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $15.94, for a total value of $366,620.00. Following the completion of the sale, the chairman directly owned 744,129 shares of the company's stock, valued at $11,861,416.26. This trade represents a 3.00% 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 Down 1.1%
Shares of NYSE:AI opened at $14.49 on Wednesday. The firm has a market capitalization of $2.00 billion, a price-to-earnings ratio of -5.12 and a beta of 1.97. The stock's 50 day moving average is $16.02 and its 200-day moving average is $19.66. C3.ai, Inc. has a twelve month low of $12.59 and a twelve month high of $44.34.
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, beating analysts' consensus estimates of ($0.33) by $0.08. The firm had revenue of $75.15 million for the quarter, compared to analyst estimates of $74.86 million. C3.ai had a negative net margin of 108.06% and a negative return on equity of 46.51%. The business's quarterly revenue was down 20.3% compared to the same quarter last year. During the same period last year, the firm earned ($0.06) earnings per share. Equities research analysts anticipate that C3.ai, Inc. will post -2.44 earnings per share for the current fiscal year.
Analyst Ratings Changes
Several brokerages recently issued reports on AI. Morgan Stanley cut their target price on C3.ai from $22.00 to $11.00 and set an "underweight" rating on the stock in a research report on Tuesday, September 9th. DA Davidson reiterated an "underperform" rating and issued a $13.00 target price on shares of C3.ai in a research note on Thursday, December 4th. Needham & Company LLC reiterated a "hold" rating on shares of C3.ai in a report on Thursday, December 4th. Canaccord Genuity Group restated a "hold" rating and set a $16.00 price target on shares of C3.ai in a report on Thursday, December 4th. Finally, UBS Group upped their price objective on shares of C3.ai from $16.00 to $17.00 and gave the stock a "neutral" rating in a research report on Friday, September 12th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, seven have given a Hold rating and five have given a Sell rating to the stock. According to data from MarketBeat.com, C3.ai has an average rating of "Reduce" and a consensus price target of $21.92.
Check Out Our Latest Research Report on AI
Hedge Funds Weigh In On C3.ai
Institutional investors have recently added to or reduced their stakes in the stock. Bogart Wealth LLC boosted its stake in C3.ai by 22.7% in the second quarter. Bogart Wealth LLC now owns 2,700 shares of the company's stock valued at $66,000 after acquiring an additional 500 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of C3.ai by 8.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 6,546 shares of the company's stock worth $138,000 after purchasing an additional 510 shares during the period. ProShare Advisors LLC lifted its stake in C3.ai by 2.4% in the second quarter. ProShare Advisors LLC now owns 25,548 shares of the company's stock valued at $628,000 after purchasing an additional 593 shares during the last quarter. Moors & Cabot Inc. grew its holdings in C3.ai by 5.2% during the second quarter. Moors & Cabot Inc. now owns 14,263 shares of the company's stock valued at $350,000 after purchasing an additional 700 shares during the period. Finally, Ameritas Investment Partners Inc. increased its position in C3.ai by 6.8% in the second quarter. Ameritas Investment Partners Inc. now owns 12,365 shares of the company's stock worth $304,000 after buying an additional 791 shares during the last quarter. Institutional investors own 38.96% of the company's stock.
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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