C3.ai, Inc. (NYSE:AI) CEO Sells $12,692,466.07 in Stock

C3.ai, Inc. (NYSE:AI) CEO Thomas M. Siebel sold 409,831 shares of the company’s stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $30.97, for a total transaction of $12,692,466.07. Following the completion of the transaction, the chief executive officer now owns 1,756,390 shares in the company, valued at approximately $54,395,398.30. The trade was a 18.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

C3.ai Stock Performance

NYSE:AI traded up $0.59 during midday trading on Thursday, reaching $32.32. 3,078,584 shares of the stock traded hands, compared to its average volume of 4,579,419. The stock has a market capitalization of $4.17 billion, a PE ratio of -14.62 and a beta of 2.00. C3.ai, Inc. has a 12-month low of $18.85 and a 12-month high of $45.08. The business has a 50-day moving average of $35.00 and a two-hundred day moving average of $28.76.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Canaccord Genuity Group upped their target price on shares of C3.ai from $23.00 to $40.00 and gave the stock a “hold” rating in a research note on Wednesday, December 11th. JPMorgan Chase & Co. lowered shares of C3.ai from a “neutral” rating to an “underweight” rating and set a $28.00 price objective for the company. in a research note on Wednesday, December 11th. Morgan Stanley raised their target price on shares of C3.ai from $21.00 to $32.00 and gave the company an “underweight” rating in a research report on Tuesday, December 10th. JMP Securities boosted their price target on shares of C3.ai from $40.00 to $55.00 and gave the company a “market outperform” rating in a report on Tuesday, December 10th. Finally, Northland Securities increased their price objective on shares of C3.ai from $35.00 to $45.00 and gave the company an “outperform” rating in a research note on Tuesday, December 10th. Five research analysts have rated the stock with a sell rating, five have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $35.00.

Institutional Trading of C3.ai

Hedge funds and other institutional investors have recently made changes to their positions in the business. Friedenthal Financial acquired a new position in C3.ai during the 4th quarter valued at about $757,000. TT International Asset Management LTD purchased a new stake in shares of C3.ai during the fourth quarter worth about $482,000. Wealth Enhancement Advisory Services LLC increased its holdings in shares of C3.ai by 28.1% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 14,400 shares of the company’s stock valued at $496,000 after acquiring an additional 3,161 shares in the last quarter. Geode Capital Management LLC raised its position in shares of C3.ai by 8.8% in the 3rd quarter. Geode Capital Management LLC now owns 2,216,925 shares of the company’s stock valued at $53,728,000 after purchasing an additional 178,870 shares during the last quarter. Finally, Hodges Capital Management Inc. acquired a new stake in C3.ai in the 3rd quarter worth approximately $1,955,000. Hedge funds and other institutional investors own 38.96% of the company’s stock.

About C3.ai

C3.ai, Inc operates as an enterprise artificial intelligence (AI) software company in North America, Europe, the Middle East, Africa, the Asia Pacific, and internationally. The company provides C3 AI platform, an application development and runtime environment that enables customers to design, develop, and deploy enterprise AI applications; C3 AI Ex Machina for analysis-ready data; C3 AI CRM, an industry specific customer relationship management solution; and C3 Generative AI Product Suite that enables to locate, retrieve, and present information.