Key Points
- CEO Thomas Siebel sold 22,780 C3.ai shares at an average price of $10.56, generating approximately $240,557. The sale covered tax-withholding obligations tied to vested equity awards and reduced his ownership by 2.97%.
- C3.ai recently reported a quarterly loss of $0.20 per share, beating estimates of $0.26, while revenue of $52.38 million edged expectations but declined 25.4% year over year. The company continues to post significantly negative margins.
- Analyst sentiment remains cautious, with one Buy, four Hold, and seven Sell ratings; MarketBeat lists a consensus rating of “Reduce” and an $8.70 price target versus the stock’s $10.82 opening price.
C3.ai, Inc. (NYSE:AI - Get Free Report) CEO Thomas Siebel sold 22,780 shares of C3.ai stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $10.56, for a total transaction of $240,556.80. Following the transaction, the chief executive officer directly owned 744,348 shares in the company, valued at $7,860,314.88. This trade represents a 2.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
C3.ai Trading Down 3.2%
NYSE AI opened at $10.82 on Wednesday. The firm has a market cap of $1.68 billion, a PE ratio of -3.51 and a beta of 2.10. C3.ai, Inc. has a 1-year low of $7.68 and a 1-year high of $20.22. The stock has a 50-day moving average of $9.76 and a 200-day moving average of $9.44.
C3.ai (NYSE:AI - Get Free Report) last announced its quarterly earnings results on Wednesday, September 2nd. The company reported ($0.20) earnings per share for the quarter, beating the consensus estimate of ($0.26) by $0.06. C3.ai had a negative net margin of 192.10% and a negative return on equity of 61.25%. The business had revenue of $52.38 million during the quarter, compared to analysts' expectations of $52.06 million. During the same quarter in the prior year, the company posted ($0.37) EPS. The firm's revenue for the quarter was down 25.4% compared to the same quarter last year. As a group, equities research analysts forecast that C3.ai, Inc. will post -2.22 earnings per share for the current fiscal year.
Analyst Ratings Changes
A number of research analysts recently issued reports on the company. UBS Group restated an "underperform" rating on shares of C3.ai in a report on Tuesday, September 1st. Wedbush reiterated an "outperform" rating and issued a $15.00 price objective on shares of C3.ai in a research report on Thursday, June 4th. KeyCorp reiterated an "underweight" rating on shares of C3.ai in a research report on Thursday, June 4th. Canaccord Genuity Group reissued a "hold" rating and set a $10.00 target price on shares of C3.ai in a research note on Thursday, September 3rd. Finally, Citizens Jmp restated a "market perform" rating on shares of C3.ai in a report on Thursday, September 3rd. One investment analyst has rated the stock with a Buy rating, four have assigned a Hold rating and seven have issued a Sell rating to the stock. According to data from MarketBeat, C3.ai presently has a consensus rating of "Reduce" and a consensus target price of $8.70.
View Our Latest Analysis on AI
Institutional Investors Weigh In On C3.ai
A number of large investors have recently modified their holdings of AI. Sequoia Financial Advisors LLC purchased a new position in shares of C3.ai in the 2nd quarter valued at approximately $106,000. Engineers Gate Manager LP bought a new stake in shares of C3.ai during the second quarter valued at approximately $2,855,000. Allworth Financial LP grew its stake in C3.ai by 13.6% in the second quarter. Allworth Financial LP now owns 26,660 shares of the company's stock worth $242,000 after purchasing an additional 3,185 shares during the period. Arizona State Retirement System grew its stake in C3.ai by 3.7% in the second quarter. Arizona State Retirement System now owns 37,168 shares of the company's stock worth $338,000 after purchasing an additional 1,310 shares during the period. Finally, Nykredit A S bought a new position in C3.ai in the second quarter worth $84,000. Institutional investors own 38.96% of the company's stock.
C3.ai Company Profile
(
Get Free Report)
C3.ai, Inc develops enterprise artificial intelligence software and applications for organizations in a range of industries. Its technology is designed to help businesses use data, machine learning and predictive analytics to address operational, financial and strategic challenges.
The company's offerings include the C3 AI Platform, which provides tools for developing, deploying and operating AI applications, as well as prebuilt applications for use cases such as predictive maintenance, fraud detection, supply-chain optimization, customer engagement, energy management and regulatory compliance.
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].
