Insider Selling: C3.ai, Inc. (NYSE:AI) CEO Sells 272,079 Shares of Stock

C3.ai, Inc. (NYSE:AI) CEO Thomas M. Siebel sold 272,079 shares of the business’s stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $23.99, for a total transaction of $6,527,175.21. Following the completion of the transaction, the chief executive officer now owns 4,402,564 shares of the company’s stock, valued at $105,617,510.36. This trade represents a 5.82% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

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 stock was sold at an average price of $19.47, for a total transaction of $264,149.49.

C3.ai Stock Up 3.2%

AI opened at $24.17 on Friday. C3.ai, Inc. has a 12 month low of $17.03 and a 12 month high of $45.08. The company has a fifty day simple moving average of $21.57 and a 200 day simple moving average of $28.50. The stock has a market cap of $3.21 billion, a P/E ratio of -10.93 and a beta of 1.99.

C3.ai (NYSE:AI) last released its quarterly earnings data 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 net margin of 79.17% and a negative return on equity of 31.31%. The firm had revenue of $98.78 million during the quarter, compared to the consensus estimate of $98.12 million. On average, equities research analysts expect that C3.ai, Inc. will post -2.44 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently weighed in on AI shares. KeyCorp dropped their price objective on shares of C3.ai from $21.00 to $17.00 and set an “underweight” rating for the company in a research report on Thursday, April 17th. DA Davidson dropped their price objective on shares of C3.ai from $25.00 to $18.00 and set a “neutral” rating for the company in a research report on Monday, April 14th. Needham & Company LLC restated a “hold” rating on shares of C3.ai in a research report on Thursday, February 27th. Canaccord Genuity Group dropped their price objective on shares of C3.ai from $40.00 to $30.00 and set a “hold” rating for the company in a research report on Thursday, February 27th. Finally, Morgan Stanley dropped their target price on shares of C3.ai from $30.00 to $20.00 and set an “underweight” rating for the company in a research report on Wednesday, April 16th. Five 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’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $29.58.

Institutional Trading of C3.ai

A number of large investors have recently made changes to their positions in AI. Two Sigma Investments LP bought a new stake in shares of C3.ai in the 4th quarter valued at $42,306,000. Man Group plc acquired a new position in C3.ai in the 4th quarter worth $38,455,000. Two Sigma Advisers LP acquired a new position in C3.ai in the 4th quarter worth $30,725,000. Renaissance Technologies LLC boosted its stake in C3.ai by 1,242.5% in the 4th quarter. Renaissance Technologies LLC now owns 718,231 shares of the company’s stock worth $24,729,000 after purchasing an additional 664,731 shares during the period. Finally, Vident Advisory LLC boosted its stake in C3.ai by 3,935.9% in the 1st quarter. Vident Advisory LLC now owns 568,492 shares of the company’s stock worth $11,967,000 after purchasing an additional 554,406 shares during the period. 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.