C3.ai, Inc. (NYSE:AI) CEO Thomas M. Siebel Sells 356,418 Shares

C3.ai, Inc. (NYSE:AI) CEO Thomas M. Siebel sold 356,418 shares of C3.ai stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $20.19, for a total value of $7,196,079.42. Following the completion of the transaction, the chief executive officer now directly owns 241,768 shares of the company’s stock, valued at approximately $4,881,295.92. This represents a 59.58 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Thomas M. Siebel also recently made the following trade(s):

• On Wednesday, April 16th, Thomas M. Siebel sold 13,567 shares of C3.ai stock. The shares were sold at an average price of $19.47, for a total transaction of $264,149.49.

C3.ai Price Performance

Shares of NYSE:AI opened at $19.37 on Thursday. The firm’s 50 day simple moving average is $23.77 and its two-hundred day simple moving average is $28.95. The company has a market capitalization of $2.57 billion, a P/E ratio of -8.76 and a beta of 2.01. C3.ai, Inc. has a 1-year low of $17.03 and a 1-year high of $45.08.

C3.ai (NYSE:AI) last issued its earnings results on Wednesday, February 26th. The company reported ($0.62) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($0.37). The firm had revenue of $98.78 million during the quarter, compared to the consensus estimate of $98.12 million. C3.ai had a negative return on equity of 31.31% and a negative net margin of 79.17%. On average, sell-side analysts anticipate that C3.ai, Inc. will post -2.44 earnings per share for the current fiscal year.

Institutional Trading of C3.ai

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. grew its holdings in C3.ai by 10.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 933,139 shares of the company’s stock valued at $32,128,000 after buying an additional 88,750 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in C3.ai in the 4th quarter worth $3,996,000. Vanguard Group Inc. boosted its holdings in shares of C3.ai by 3.6% during the 4th quarter. Vanguard Group Inc. now owns 12,935,969 shares of the company’s stock valued at $445,385,000 after purchasing an additional 446,529 shares during the last quarter. Janney Montgomery Scott LLC increased its holdings in shares of C3.ai by 70.9% in 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 last quarter. Finally, Strategic Financial Concepts LLC bought a new position in C3.ai during the fourth quarter valued at approximately $2,015,000. Institutional investors own 38.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on AI shares. Piper Sandler reduced their target price on C3.ai from $42.00 to $28.00 and set a “neutral” rating for the company in a report on Thursday, February 27th. KeyCorp decreased their target price on C3.ai from $29.00 to $21.00 and set an “underweight” rating for the company in a research report on Thursday, February 27th. DA Davidson reduced their price target on shares of C3.ai from $25.00 to $18.00 and set a “neutral” rating for the company in a research note on Monday. Canaccord Genuity Group dropped their target price on shares of C3.ai from $40.00 to $30.00 and set a “hold” rating on the stock in a report on Thursday, February 27th. Finally, Morgan Stanley lowered their price target on C3.ai from $30.00 to $20.00 and set an “underweight” rating on the stock in a report on Wednesday. Five research analysts have rated the stock with a sell rating, five have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, C3.ai presently has a consensus rating of “Hold” and an average target price of $29.92.

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.