Key Points
- CEO Thomas Siebel sold 328,742 C3.ai shares for about $3.87 million under a pre-arranged Rule 10b5-1 plan, reducing his direct holdings by 31.28% to 722,362 shares.
- In its latest reported quarter, C3.ai posted a smaller-than-expected loss of $0.20 per share and revenue of $52.38 million, slightly above estimates; revenue fell 25.4% year over year.
- Analyst sentiment was cautious: the stock’s average rating was “Reduce,” with an average price target of $9.62. Two analysts rated it Buy, five Hold, and seven Sell.
C3.ai, Inc. (NYSE:AI - Get Free Report) CEO Thomas Siebel sold 328,742 shares of the business's stock in a transaction on Tuesday, November 10th. The shares were sold at an average price of $11.76, for a total value of $3,866,005.92. Following the completion of the sale, the chief executive officer directly owned 722,362 shares in the company, valued at approximately $8,494,977.12. This represents a 31.28% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
C3.ai Trading Down 0.7%
Shares of NYSE:AI opened at $12.10 on Friday. The business's fifty day moving average price is $11.34 and its two-hundred day moving average price is $10.03. C3.ai, Inc. has a fifty-two week low of $7.68 and a fifty-two week high of $16.40.
C3.ai (NYSE:AI - Get Free Report) last released its quarterly earnings data on Wednesday, September 2nd. The company reported ($0.20) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.26) by $0.06. The firm had revenue of $52.38 million during the quarter, compared to analyst estimates of $52.06 million. C3.ai had a negative return on equity of 61.25% and a negative net margin of 192.10%. The business's revenue for the quarter was down 25.4% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.37) earnings per share. Sell-side analysts predict that C3.ai, Inc. will post -2.20 EPS for the current year.
Wall Street Analysts Forecast Growth
AI has been the topic of several analyst reports. DA Davidson reaffirmed an "underperform" rating and issued a $7.00 target price on shares of C3.ai in a report on Tuesday, September 1st. UBS Group reiterated an "underperform" rating on shares of C3.ai in a research report on Tuesday, September 1st. Citizens Jmp reissued a "market perform" rating on shares of C3.ai in a report on Tuesday, September 29th. Needham & Company LLC restated a "hold" rating on shares of C3.ai in a research report on Thursday, September 3rd. Finally, Canaccord Genuity Group restated a "hold" rating and issued a $10.00 price target on shares of C3.ai in a research report on Thursday, September 3rd. Two analysts have rated the stock with a Buy rating, five have given a Hold rating and seven have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Reduce" and an average target price of $9.62.
Check Out Our Latest Analysis on AI
Hedge Funds Weigh In On C3.ai
A number of large investors have recently modified their holdings of the stock. Royal Bank of Canada lifted 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 in the last quarter. Renaissance Technologies LLC acquired a new stake in shares of C3.ai in the 1st quarter valued at $934,000. Bank of America Corp DE increased its stake in shares of 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 valued at $27,636,000 after buying an additional 1,166,302 shares during the period. First Trust Advisors LP increased its stake in shares of C3.ai by 67.3% in the 1st quarter. First Trust Advisors LP now owns 1,215,341 shares of the company's stock valued at $10,233,000 after buying an additional 488,710 shares during the period. Finally, Edgestream Partners L.P. raised its position in shares of 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 acquiring an additional 469,057 shares during the last quarter. 38.96% of the stock is currently owned by institutional investors and hedge funds.
About C3.ai
(
Get Free Report)
C3.ai, Inc. is an enterprise software company that develops artificial intelligence applications and tools for businesses and government organizations. Its offerings are designed to help customers use data to address operational and analytical needs across industries including energy, manufacturing, financial services, healthcare and defense. The company's products include the C3 AI Platform, which provides tools for developing, deploying and operating AI applications using enterprise data, as well as ready-made applications for use cases such as predictive maintenance, supply chain management and fraud detection.
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