C3.ai (NYSE:AI) Reaches New 12-Month Low Following Insider Selling

Shares of C3.ai, Inc. (NYSE:AI) hit a new 52-week low on Wednesday following insider selling activity. The company traded as low as $10.19 and last traded at $10.7340, with a volume of 9367046 shares changing hands. The stock had previously closed at $10.92.

Specifically, Chairman Thomas M. Siebel sold 27,605 shares of the stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $10.81, for a total transaction of $298,410.05. Following the completion of the sale, the chairman directly owned 747,882 shares in the company, valued at approximately $8,084,604.42. This trade represents a 3.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Analyst Ratings Changes

A number of research analysts have commented on the company. Canaccord Genuity Group restated a “hold” rating and issued a $16.00 target price on shares of C3.ai in a research note on Thursday, December 4th. Weiss Ratings reiterated a “sell (d-)” rating on shares of C3.ai in a report on Wednesday, January 21st. Oppenheimer set a $10.00 price objective on C3.ai in a report on Friday. Needham & Company LLC reaffirmed a “hold” rating on shares of C3.ai in a research report on Thursday, December 4th. Finally, DA Davidson reissued an “underperform” rating and issued a $13.00 target price on shares of C3.ai in a research report on Thursday, December 4th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, six have given a Hold rating and five have issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and an average target price of $19.00.

C3.ai Stock Performance

The stock has a 50 day moving average of $13.81 and a two-hundred day moving average of $16.67. The firm has a market capitalization of $1.51 billion, a P/E ratio of -3.79 and a beta of 1.98.

C3.ai (NYSE:AI) last announced its quarterly earnings results on Wednesday, December 3rd. The company reported ($0.25) EPS for the quarter, beating the consensus estimate of ($0.33) by $0.08. C3.ai had a negative return on equity of 46.51% and a negative net margin of 108.06%.The company had revenue of $75.15 million for the quarter, compared to the consensus estimate of $74.86 million. During the same quarter last year, the company posted ($0.06) earnings per share. The company’s revenue for the quarter was down 20.3% compared to the same quarter last year. Sell-side analysts predict that C3.ai, Inc. will post -2.44 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of AI. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in C3.ai by 171.9% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 129,797 shares of the company’s stock worth $1,785,000 after acquiring an additional 82,065 shares during the period. Comerica Bank grew its position in shares of C3.ai by 839.1% in the fourth quarter. Comerica Bank now owns 2,423 shares of the company’s stock valued at $33,000 after purchasing an additional 2,165 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of C3.ai by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 14,469,953 shares of the company’s stock worth $195,055,000 after purchasing an additional 108,011 shares during the period. Geneos Wealth Management Inc. lifted its position in shares of C3.ai by 29.6% during the 4th quarter. Geneos Wealth Management Inc. now owns 4,373 shares of the company’s stock worth $59,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH lifted its position in shares of C3.ai by 20.7% during the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 12,798 shares of the company’s stock worth $173,000 after purchasing an additional 2,194 shares during the last quarter. 38.96% of the stock is currently owned by institutional investors and hedge funds.

About C3.ai

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.