C3.ai, Inc. (NYSE:AI) CEO Thomas M. Siebel Sells 216,974 Shares

C3.ai, Inc. (NYSE:AI) CEO Thomas M. Siebel sold 216,974 shares of the business’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $21.88, for a total transaction of $4,747,391.12. Following the completion of the transaction, the chief executive officer now owns 726,177 shares in the company, valued at approximately $15,888,752.76. This trade represents a 23.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

C3.ai Price Performance

Shares of NYSE AI opened at $22.16 on Wednesday. The company’s 50 day simple moving average is $29.05 and its 200 day simple moving average is $29.39. The firm has a market capitalization of $2.94 billion, a P/E ratio of -10.03 and a beta of 2.03. C3.ai, Inc. has a fifty-two week low of $18.85 and a fifty-two week high of $45.08.

C3.ai (NYSE:AI) last posted 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 analyst estimates of $98.12 million. C3.ai had a negative return on equity of 31.31% and a negative net margin of 79.17%. Sell-side analysts expect that C3.ai, Inc. will post -2.44 EPS for the current fiscal year.

Institutional Investors Weigh In On C3.ai

Several hedge funds have recently bought and sold shares of AI. Brown Lisle Cummings Inc. raised its holdings in C3.ai by 100.0% in 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 during the period. R Squared Ltd bought a new stake in shares of C3.ai during the fourth quarter worth $29,000. Russell Investments Group Ltd. increased its position in shares of 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 acquiring an additional 456 shares in the last quarter. WealthTrak Capital Management LLC bought a new stake in shares of C3.ai during the fourth quarter worth $33,000. Finally, CENTRAL TRUST Co bought a new stake in shares of C3.ai during the fourth quarter worth $34,000. 38.96% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. 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 research report on Tuesday, December 10th. KeyCorp dropped their target price on shares of C3.ai from $29.00 to $21.00 and set an “underweight” rating for the company in a research note on Thursday, February 27th. JPMorgan Chase & Co. downgraded shares of C3.ai from a “neutral” rating to an “underweight” rating and set a $28.00 target price for the company. in a research note on Wednesday, December 11th. Morgan Stanley dropped their target price on shares of C3.ai from $32.00 to $30.00 and set an “underweight” rating for the company in a research note on Thursday, February 27th. Finally, Piper Sandler dropped their target price on shares of C3.ai from $42.00 to $28.00 and set a “neutral” rating for the company in a research note on Thursday, February 27th. Five equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, four have assigned a buy rating and one has assigned 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 $31.33.

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.