C3.ai, Inc. (NYSE:AI - Get Free Report) CEO Thomas Siebel sold 112,014 shares of C3.ai stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $8.65, for a total transaction of $968,921.10. Following the sale, the chief executive officer owned 722,362 shares in the company, valued at approximately $6,248,431.30. This represents a 13.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
C3.ai Stock Up 1.0%
Shares of NYSE AI opened at $8.84 on Wednesday. C3.ai, Inc. has a fifty-two week low of $7.68 and a fifty-two week high of $30.24. The firm's 50-day simple moving average is $8.83 and its 200 day simple moving average is $11.61. The stock has a market cap of $1.28 billion, a P/E ratio of -2.80 and a beta of 2.00.
C3.ai (NYSE:AI - Get Free Report) last issued its quarterly earnings data on Wednesday, February 25th. The company reported ($0.40) earnings per share 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 company had revenue of $53.26 million for the quarter, compared to the consensus estimate of $75.91 million. During the same quarter in the prior year, the firm earned ($0.12) earnings per share. C3.ai's revenue for the quarter was down 46.1% compared to the same quarter last year. On average, sell-side analysts anticipate that C3.ai, Inc. will post -3.22 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently weighed in on the stock. Citizens Jmp cut shares of C3.ai from an "outperform" rating to a "market perform" rating in a research note on Thursday, February 26th. Weiss Ratings cut shares of C3.ai from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Monday, May 4th. KeyCorp dropped their price target on shares of C3.ai from $10.00 to $6.00 and set an "underweight" rating on the stock in a research report on Thursday, February 26th. UBS Group reiterated a "reduce" rating on shares of C3.ai in a research report on Thursday, February 26th. Finally, Canaccord Genuity Group boosted their price target on shares of C3.ai from $7.00 to $8.00 and gave the stock a "hold" rating in a research report on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, seven have given a Hold rating and six have assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Reduce" and an average price target of $15.93.
Read Our Latest Report on C3.ai
Institutional Trading of C3.ai
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Western Wealth Management LLC acquired a new stake in C3.ai during the 1st quarter worth about $26,000. Bank of America Corp DE raised its holdings in 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 worth $27,636,000 after buying an additional 1,166,302 shares during the period. 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 worth $5,545,000 after buying an additional 469,057 shares during the period. California State Teachers Retirement System raised its holdings in C3.ai by 39.0% during the 1st quarter. California State Teachers Retirement System now owns 168,943 shares of the company's stock worth $1,422,000 after buying an additional 47,391 shares during the period. Finally, Royal Bank of Canada raised its holdings in C3.ai by 418.7% during the 1st quarter. Royal Bank of Canada now owns 177,527 shares of the company's stock worth $1,495,000 after buying an additional 143,303 shares during the period. Institutional investors and hedge funds own 38.96% of the company's stock.
About C3.ai
(
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.
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