C3.ai, Inc. (NYSE:AI) CEO Thomas M. Siebel Sells 294,116 Shares

C3.ai, Inc. (NYSE:AI) CEO Thomas M. Siebel sold 294,116 shares of the firm’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $21.50, for a total value of $6,323,494.00. Following the transaction, the chief executive officer now owns 943,151 shares in the company, valued at $20,277,746.50. The trade was a 23.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

C3.ai Stock Performance

C3.ai stock opened at $22.16 on Wednesday. C3.ai, Inc. has a fifty-two week low of $18.85 and a fifty-two week high of $45.08. The company has a market cap of $2.94 billion, a PE ratio of -10.03 and a beta of 2.03. The business’s 50-day simple moving average is $29.05 and its two-hundred day simple moving average is $29.39.

C3.ai (NYSE:AI) last issued its earnings results on Wednesday, February 26th. The company reported ($0.62) EPS for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.37). C3.ai had a negative return on equity of 31.31% and a negative net margin of 79.17%. The company had revenue of $98.78 million during the quarter, compared to analysts’ expectations of $98.12 million. As a group, analysts predict that C3.ai, Inc. will post -2.44 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently issued reports on AI shares. Needham & Company LLC reiterated a “hold” rating on shares of C3.ai in a report on Thursday, February 27th. DA Davidson cut their price target on C3.ai from $40.00 to $25.00 and set a “neutral” rating on the stock in a report on Thursday, February 27th. Northland Securities lifted their price target on C3.ai from $35.00 to $45.00 and gave the company an “outperform” rating in a report on Tuesday, December 10th. Canaccord Genuity Group cut their price target on C3.ai from $40.00 to $30.00 and set a “hold” rating on the stock in a report on Thursday, February 27th. Finally, Piper Sandler cut their price target on C3.ai from $42.00 to $28.00 and set a “neutral” rating on the stock in a report on Thursday, February 27th. 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 given a strong buy rating to the company. According to data from MarketBeat, C3.ai has a consensus rating of “Hold” and an average target price of $31.33.

Institutional Trading of C3.ai

Hedge funds have recently modified their holdings of the stock. Brown Lisle Cummings Inc. boosted its position in C3.ai by 100.0% during the fourth quarter. Brown Lisle Cummings Inc. now owns 800 shares of the company’s stock worth $28,000 after purchasing an additional 400 shares in the last quarter. R Squared Ltd purchased a new position in C3.ai during the fourth quarter worth approximately $29,000. Russell Investments Group Ltd. boosted its position in C3.ai by 100.7% during the fourth quarter. Russell Investments Group Ltd. now owns 909 shares of the company’s stock worth $31,000 after purchasing an additional 456 shares in the last quarter. WealthTrak Capital Management LLC purchased a new position in C3.ai during the fourth quarter worth approximately $33,000. Finally, CENTRAL TRUST Co purchased a new position in C3.ai during the fourth quarter worth approximately $34,000. 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.