Key Points
- Chairman Thomas Siebel sold 165,278 shares on April 14 at an average price of $8.49 for a total of $1,403,210.22 under a pre-arranged Rule 10b5-1 plan, cutting his stake by 18.62% to 722,362 shares.
- C3.ai missed quarterly expectations, reporting EPS of ($0.40) vs. ($0.29) expected and revenue of $53.26M vs. $75.91M expected (revenue down 46.1% year-over-year), with a deeply negative net margin and ROE.
- Analyst sentiment is mixed-to-negative—MarketBeat shows an average rating of "Reduce" with a $15.87 consensus price target, and brokerages have issued multiple downgrades and lower price objectives.
C3.ai, Inc. (NYSE:AI - Get Free Report) Chairman Thomas Siebel sold 165,278 shares of the stock in a transaction that occurred on Tuesday, April 14th. The stock was sold at an average price of $8.49, for a total transaction of $1,403,210.22. Following the sale, the chairman owned 722,362 shares in the company, valued at approximately $6,132,853.38. This trade represents a 18.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
C3.ai Stock Up 13.5%
C3.ai stock opened at $9.54 on Thursday. The firm has a market cap of $1.39 billion, a PE ratio of -3.03 and a beta of 2.08. C3.ai, Inc. has a 52-week low of $7.68 and a 52-week high of $30.24. The company's 50 day moving average is $9.27 and its two-hundred day moving average is $13.08.
C3.ai (NYSE:AI - Get Free Report) last announced its quarterly earnings data on Wednesday, February 25th. The company reported ($0.40) EPS for the quarter, missing analysts' consensus estimates of ($0.29) by ($0.11). C3.ai had a negative net margin of 141.35% and a negative return on equity of 55.40%. The firm had revenue of $53.26 million during the quarter, compared to analysts' expectations of $75.91 million. During the same period in the prior year, the company posted ($0.12) earnings per share. The company's revenue for the quarter was down 46.1% on a year-over-year basis. On average, equities research analysts anticipate that C3.ai, Inc. will post -2.44 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
A number of brokerages have commented on AI. Weiss Ratings reissued a "sell (d-)" rating on shares of C3.ai in a research report on Wednesday, January 21st. JPMorgan Chase & Co. dropped their price objective on shares of C3.ai from $10.00 to $7.00 and set an "underweight" rating on the stock in a research report on Thursday, February 26th. Citizens Jmp downgraded shares of C3.ai from an "outperform" rating to a "market perform" rating in a research report on Thursday, February 26th. Wolfe Research reissued an "underperform" rating and issued a $6.00 price objective on shares of C3.ai in a research report on Thursday, February 26th. Finally, UBS Group reissued a "reduce" rating on shares of C3.ai in a research report on Thursday, February 26th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, seven have given a Hold rating and six have assigned a Sell rating to the company. According to data from MarketBeat.com, C3.ai presently has an average rating of "Reduce" and a consensus price target of $15.87.
Get Our Latest Stock Analysis on AI
Institutional Inflows and Outflows
A number of hedge funds have recently modified their holdings of AI. AQR Capital Management LLC grew its position in shares of C3.ai by 267.9% in the 1st quarter. AQR Capital Management LLC now owns 181,354 shares of the company's stock valued at $3,788,000 after buying an additional 132,056 shares during the last quarter. NewEdge Advisors LLC grew its position in shares of C3.ai by 48.7% in the 1st quarter. NewEdge Advisors LLC now owns 2,442 shares of the company's stock valued at $51,000 after buying an additional 800 shares during the last quarter. Woodline Partners LP purchased a new position in shares of C3.ai in the 1st quarter valued at $346,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of C3.ai by 4.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 242,784 shares of the company's stock valued at $5,111,000 after buying an additional 10,675 shares during the last quarter. Finally, Focus Partners Wealth grew its position in shares of C3.ai by 2.6% in the 1st quarter. Focus Partners Wealth now owns 59,004 shares of the company's stock valued at $1,242,000 after buying an additional 1,503 shares during the last quarter. 38.96% of the stock is owned by hedge funds and other institutional investors.
C3.ai Company Profile
(
Get Free Report)
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.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
