C3.ai, Inc. (NYSE:AI - Get Free Report) CEO Thomas Siebel sold 139,500 shares of the firm's stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $9.61, for a total value of $1,340,595.00. Following the completion of the sale, the chief executive officer directly owned 866,196 shares of the company's stock, valued at approximately $8,324,143.56. This trade represents a 13.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
C3.ai Trading Up 3.5%
Shares of AI stock opened at $10.07 on Wednesday. The company has a market capitalization of $1.57 billion, a price-to-earnings ratio of -3.02 and a beta of 2.08. C3.ai, Inc. has a 1-year low of $7.68 and a 1-year high of $23.76. The stock's fifty day simple moving average is $9.61 and its 200-day simple moving average is $9.69.
C3.ai (NYSE:AI - Get Free Report) last announced its quarterly earnings data on Wednesday, June 3rd. The company reported ($0.33) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.38) by $0.05. C3.ai had a negative return on equity of 62.44% and a negative net margin of 187.95%.The firm had revenue of $51.60 million during the quarter, compared to the consensus estimate of $51.60 million. During the same period in the prior year, the business earned ($0.16) EPS. The business's revenue for the quarter was down 52.5% on a year-over-year basis. On average, sell-side analysts predict that C3.ai, Inc. will post -2.28 EPS for the current year.
Analysts Set New Price Targets
AI has been the subject of several research reports. KeyCorp restated an "underweight" rating on shares of C3.ai in a report on Thursday, June 4th. DA Davidson reiterated an "underperform" rating and issued a $7.00 price objective on shares of C3.ai in a research note on Thursday, June 4th. Wedbush reissued an "outperform" rating and set a $15.00 target price on shares of C3.ai in a research note on Thursday, June 4th. Canaccord Genuity Group lifted their target price on shares of C3.ai from $8.00 to $10.00 and gave the company a "hold" rating in a research note on Thursday, June 4th. Finally, UBS Group boosted their price target on shares of C3.ai from $9.00 to $12.00 and gave the company a "neutral" rating in a report on Thursday, June 4th. One investment analyst has rated the stock with a Buy rating, six have given a Hold rating and six have issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Reduce" and a consensus price target of $10.67.
View Our Latest Analysis on AI
Hedge Funds Weigh In On C3.ai
A number of hedge funds have recently added to or reduced their stakes in AI. Handelsbanken Fonder AB raised its position in C3.ai by 31.3% during the second quarter. Handelsbanken Fonder AB now owns 41,500 shares of the company's stock valued at $377,000 after acquiring an additional 9,900 shares in the last quarter. Shearwater Capital LLC lifted its stake in C3.ai by 5.3% in the second quarter. Shearwater Capital LLC now owns 70,826 shares of the company's stock valued at $644,000 after acquiring an additional 3,550 shares during the last quarter. 180 Wealth Advisors LLC grew its position in C3.ai by 14.6% in the second quarter. 180 Wealth Advisors LLC now owns 89,538 shares of the company's stock worth $814,000 after acquiring an additional 11,388 shares in the last quarter. CoreCap Advisors LLC grew its position in C3.ai by 34.0% in the second quarter. CoreCap Advisors LLC now owns 6,145 shares of the company's stock worth $56,000 after acquiring an additional 1,560 shares in the last quarter. Finally, Versant Capital Management Inc increased its stake in shares of C3.ai by 1,510.1% during the 2nd quarter. Versant Capital Management Inc now owns 6,859 shares of the company's stock worth $62,000 after purchasing an additional 6,433 shares during the last quarter. 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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