Key Points
- C3.ai CEO Thomas Siebel sold 17,350 shares on June 2 at an average price of $11.32, totaling about $196,402. The company said the sale was to cover tax withholding obligations tied to vesting equity awards.
- Shares fell 4.2% and opened at $10.71, leaving the stock well below its 52-week high of $30.11. C3.ai has a market cap of about $1.56 billion and remains volatile, with a beta of 2.04.
- Recent earnings topped expectations: C3.ai reported a smaller-than-expected loss of $0.33 per share versus the $0.38 estimate, while revenue of $51.6 million matched forecasts. However, revenue was still down 52.5% year over year, and analysts remain cautious with an average rating of “Reduce.”
C3.ai, Inc. (NYSE:AI - Get Free Report) CEO Thomas Siebel sold 17,350 shares of the business's stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $11.32, for a total transaction of $196,402.00. Following the sale, the chief executive officer directly owned 6,904,415 shares of the company's stock, valued at $78,157,977.80. This represents a 0.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
C3.ai Trading Down 4.2%
Shares of AI opened at $10.71 on Thursday. C3.ai, Inc. has a twelve month low of $7.68 and a twelve month high of $30.11. The firm has a market capitalization of $1.56 billion, a P/E ratio of -3.40 and a beta of 2.04. The stock's fifty day simple moving average is $9.10 and its 200 day simple moving average is $11.16.
C3.ai (NYSE:AI - Get Free Report) last posted its quarterly earnings results on Wednesday, June 3rd. The company reported ($0.33) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.38) by $0.05. The firm had revenue of $51.60 million during the quarter, compared to the consensus estimate of $51.60 million. C3.ai had a negative return on equity of 55.40% and a negative net margin of 141.35%.The firm's quarterly revenue was down 52.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.16) earnings per share. Sell-side analysts predict that C3.ai, Inc. will post -3.22 earnings per share for the current year.
Wall Street Analyst Weigh In
A number of analysts recently issued reports on AI shares. Weiss Ratings raised shares of C3.ai from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Monday. Canaccord Genuity Group lifted their price target on shares of C3.ai from $7.00 to $8.00 and gave the company a "hold" rating in a research report on Wednesday, May 13th. UBS Group reiterated a "reduce" rating on shares of C3.ai in a research note on Thursday, February 26th. Citizens Jmp lowered shares of C3.ai from an "outperform" rating to a "market perform" rating in a research report on Thursday, February 26th. Finally, JPMorgan Chase & Co. reduced their target price on shares of C3.ai from $10.00 to $7.00 and set an "underweight" rating on the stock in a report on Thursday, February 26th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, six have issued a Hold rating and six have given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Reduce" and an average target price of $12.85.
View Our Latest Stock Analysis on AI
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Hedge Funds Weigh In On C3.ai
Several hedge funds and other institutional investors have recently bought and sold shares of AI. Bank of America Corp DE boosted its holdings in C3.ai by 55.1% in the 1st quarter. Bank of America Corp DE now owns 3,282,183 shares of the company's stock worth $27,636,000 after acquiring an additional 1,166,302 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of C3.ai by 77.1% during the third quarter. Dimensional Fund Advisors LP now owns 1,804,188 shares of the company's stock valued at $31,284,000 after purchasing an additional 785,508 shares during the period. Two Sigma Investments LP acquired a new position in shares of C3.ai during the third quarter worth $13,379,000. Voloridge Investment Management LLC acquired a new position in shares of C3.ai during the fourth quarter worth $9,183,000. Finally, Federated Hermes Inc. boosted its stake in shares of C3.ai by 93,578.8% in the fourth quarter. Federated Hermes Inc. now owns 675,424 shares of the company's stock valued at $9,105,000 after purchasing an additional 674,703 shares during the period. 38.96% of the stock is owned by institutional investors and hedge funds.
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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