Key Points
- C3.ai CEO Thomas Siebel sold 453,314 shares at an average price of $10.51, generating approximately $4.76 million. The Rule 10b5-1 transaction reduced his direct ownership by 38.56% to 722,362 shares.
- C3.ai reported a quarterly loss of $0.33 per share, beating estimates, but revenue fell 52.5% year over year to $51.6 million. The company continues to post significant negative margins and analysts expect a full-year loss.
- Analyst sentiment remains cautious, with one Buy, four Hold, and six Sell ratings; the consensus rating is “Reduce” with a $10.09 price target. Institutional investors own 38.96% of the stock.
C3.ai, Inc. (NYSE:AI - Get Free Report) CEO Thomas Siebel sold 453,314 shares of the company's stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $10.51, for a total value of $4,764,330.14. Following the completion of the transaction, the chief executive officer directly owned 722,362 shares in the company, valued at approximately $7,592,024.62. The trade was a 38.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
C3.ai Price Performance
Shares of AI stock opened at $10.15 on Friday. The business has a fifty day moving average of $9.54 and a 200 day moving average of $9.56. C3.ai, Inc. has a 1 year low of $7.68 and a 1 year high of $20.22. The firm has a market capitalization of $1.58 billion, a price-to-earnings ratio of -3.04 and a beta of 2.08.
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 for the quarter, beating the consensus estimate of ($0.38) by $0.05. The business had revenue of $51.60 million for the quarter, compared to the consensus estimate of $51.60 million. C3.ai had a negative return on equity of 62.44% and a negative net margin of 187.95%.The company'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) EPS. As a group, equities research analysts expect that C3.ai, Inc. will post -2.28 earnings per share for the current year.
Hedge Funds Weigh In On C3.ai
Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of C3.ai by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 14,469,953 shares of the company's stock valued at $195,055,000 after acquiring an additional 108,011 shares during the period. First Trust Advisors LP raised its holdings in C3.ai by 67.3% in the 1st quarter. First Trust Advisors LP now owns 1,215,341 shares of the company's stock worth $10,233,000 after purchasing an additional 488,710 shares during the period. Edgestream Partners L.P. boosted its position in C3.ai by 247.5% during the first quarter. Edgestream Partners L.P. now owns 658,573 shares of the company's stock worth $5,545,000 after purchasing an additional 469,057 shares in the last quarter. Zweig DiMenna Associates LLC purchased a new position in C3.ai during the first quarter worth approximately $2,686,000. Finally, Atom Investors LP grew its holdings in C3.ai by 498.4% in the fourth quarter. Atom Investors LP now owns 374,371 shares of the company's stock valued at $5,047,000 after purchasing an additional 311,813 shares during the period. 38.96% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
AI has been the topic of several research reports. Needham & Company LLC reiterated a "hold" rating on shares of C3.ai in a report on Thursday, June 4th. Canaccord Genuity Group lifted their price objective 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. Morgan Stanley upped their price objective on shares of C3.ai from $6.00 to $7.00 and gave the company an "underweight" rating 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. Finally, Citizens Jmp reissued a "market perform" rating on shares of C3.ai in a report on Thursday, June 4th. One equities research analyst has rated the stock with a Buy rating, four 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 a consensus target price of $10.09.
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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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