C3.ai, Inc. (NYSE:AI) CEO Thomas M. Siebel Sells 341,698 Shares

C3.ai, Inc. (NYSE:AI) CEO Thomas M. Siebel sold 341,698 shares of C3.ai stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $24.00, for a total transaction of $8,200,752.00. Following the transaction, the chief executive officer now directly owns 4,674,643 shares of the company’s stock, valued at $112,191,432. This represents a 6.81% decrease in their position. The sale 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 Stock Performance

AI stock opened at $23.37 on Friday. C3.ai, Inc. has a 52 week low of $17.03 and a 52 week high of $45.08. The firm’s fifty day moving average is $21.51 and its 200 day moving average is $28.50. The firm has a market cap of $3.10 billion, a P/E ratio of -10.57 and a beta of 1.99.

C3.ai (NYSE:AI) last announced its earnings results on Wednesday, February 26th. The company reported ($0.62) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.37). The company had revenue of $98.78 million for 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, analysts forecast that C3.ai, Inc. will post -2.44 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on AI. Needham & Company LLC reiterated a “hold” rating on shares of C3.ai in a report on Thursday, February 27th. 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 research note on Thursday, February 27th. KeyCorp lowered their price target on shares of C3.ai from $21.00 to $17.00 and set an “underweight” rating on the stock in a research report on Thursday, April 17th. Morgan Stanley lowered their price target on shares of C3.ai from $30.00 to $20.00 and set an “underweight” rating on the stock in a research report on Wednesday, April 16th. Finally, DA Davidson decreased their target price on shares of C3.ai from $25.00 to $18.00 and set a “neutral” rating on the stock in a report on Monday, April 14th. Five equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $29.58.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. lifted its position 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 acquiring an additional 88,750 shares during the period. SBI Securities Co. Ltd. bought a new stake in shares of C3.ai in the fourth quarter worth approximately $3,996,000. Vanguard Group Inc. grew its position in C3.ai by 3.6% during the fourth quarter. Vanguard Group Inc. now owns 12,935,969 shares of the company’s stock valued at $445,385,000 after buying an additional 446,529 shares during the period. Janney Montgomery Scott LLC grew 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 valued at $1,905,000 after buying an additional 22,949 shares during the period. Finally, Strategic Financial Concepts LLC bought a new stake in C3.ai during the fourth quarter valued at approximately $2,015,000. 38.96% of the stock is owned by hedge funds and other institutional investors.

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.