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 stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $21.88, for a total transaction of $4,747,391.12. Following the completion of the sale, the chief executive officer now owns 726,177 shares of the company’s stock, valued at approximately $15,888,752.76. The trade was a 23.01 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

C3.ai Price Performance

NYSE AI opened at $22.16 on Wednesday. The firm has a market capitalization of $2.94 billion, a price-to-earnings ratio of -10.03 and a beta of 2.03. The company’s fifty day moving average is $29.05 and its two-hundred day moving average is $29.39. C3.ai, Inc. has a 52-week low of $18.85 and a 52-week high of $45.08.

C3.ai (NYSE:AI) last posted its quarterly earnings results on Wednesday, February 26th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.37). The company 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%. As a group, sell-side analysts expect that C3.ai, Inc. will post -2.44 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on AI. Piper Sandler cut their price target 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. Canaccord Genuity Group cut their price target 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. DA Davidson cut their price target 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. KeyCorp cut their price target 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. Finally, JMP Securities raised their price target on shares of C3.ai from $40.00 to $55.00 and gave the company a “market outperform” rating in a report on Tuesday, December 10th. Five investment analysts have rated the stock with a sell rating, five have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $31.33.

Institutional Trading of C3.ai

Several hedge funds and other institutional investors have recently bought and sold shares of AI. Brown Lisle Cummings Inc. boosted its position in shares of C3.ai by 100.0% during the 4th quarter. Brown Lisle Cummings Inc. now owns 800 shares of the company’s stock valued at $28,000 after acquiring an additional 400 shares in the last quarter. Russell Investments Group Ltd. boosted its position in shares of C3.ai by 100.7% during the 4th quarter. Russell Investments Group Ltd. now owns 909 shares of the company’s stock valued at $31,000 after acquiring an additional 456 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of C3.ai by 3.4% during the 3rd quarter. Victory Capital Management Inc. now owns 14,078 shares of the company’s stock valued at $341,000 after acquiring an additional 457 shares in the last quarter. Legal & General Group Plc boosted its position in shares of C3.ai by 0.4% during the 4th quarter. Legal & General Group Plc now owns 119,144 shares of the company’s stock valued at $4,102,000 after acquiring an additional 517 shares in the last quarter. Finally, Geneos Wealth Management Inc. boosted its position in shares of C3.ai by 72.4% during the 4th quarter. Geneos Wealth Management Inc. now owns 1,322 shares of the company’s stock valued at $46,000 after acquiring an additional 555 shares in the last quarter. 38.96% of the stock is currently owned by institutional investors and hedge funds.

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.