C3.ai, Inc. (NYSE:AI) CEO Sells $6,323,494.00 in Stock

C3.ai, Inc. (NYSE:AI) CEO Thomas M. Siebel sold 294,116 shares of the business’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $21.50, for a total transaction of $6,323,494.00. Following the completion of the sale, the chief executive officer now directly owns 943,151 shares in the company, valued at approximately $20,277,746.50. This represents a 23.77 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

C3.ai Price Performance

NYSE:AI opened at $22.38 on Friday. The firm’s fifty day moving average price is $28.62 and its two-hundred day moving average price is $29.29. The company has a market cap of $2.97 billion, a P/E ratio of -10.13 and a beta of 2.03. C3.ai, Inc. has a one year low of $18.85 and a one year high of $45.08.

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

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Needham & Company LLC reissued a “hold” rating on shares of C3.ai in a research report on Thursday, February 27th. Northland Securities boosted their target price on shares of C3.ai from $35.00 to $45.00 and gave the stock an “outperform” rating in a report on Tuesday, December 10th. Piper Sandler lowered their target price on shares of C3.ai from $42.00 to $28.00 and set a “neutral” rating on the stock in a report on Thursday, February 27th. DA Davidson lowered their target price on shares of C3.ai from $40.00 to $25.00 and set a “neutral” rating on the stock in a report on Thursday, February 27th. Finally, KeyCorp lowered their target price on shares of C3.ai from $29.00 to $21.00 and set an “underweight” rating on the stock in a report on Thursday, February 27th. Five research analysts have rated the stock with a sell rating, five have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $31.33.

Institutional Investors Weigh In On C3.ai

Institutional investors and hedge funds have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. lifted its position in C3.ai by 12.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 844,389 shares of the company’s stock worth $20,460,000 after purchasing an additional 92,280 shares during the period. SBI Securities Co. Ltd. bought a new stake in C3.ai during the fourth quarter worth about $3,996,000. PDT Partners LLC bought a new stake in C3.ai during the third quarter worth about $1,624,000. Janney Montgomery Scott LLC lifted its position in C3.ai by 70.9% during the fourth quarter. Janney Montgomery Scott LLC now owns 55,339 shares of the company’s stock worth $1,905,000 after purchasing an additional 22,949 shares during the period. Finally, Strategic Financial Concepts LLC bought a new position in shares of C3.ai in the fourth quarter worth about $2,015,000. Institutional investors own 38.96% of the company’s stock.

C3.ai Company Profile

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.