Insider Selling: C3.ai, Inc. (NYSE:AI) CEO Sells $18,252,022.88 in Stock

C3.ai, Inc. (NYSE:AI) CEO Thomas M. Siebel sold 552,422 shares of the business’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $33.04, for a total value of $18,252,022.88. Following the transaction, the chief executive officer now directly owns 1,336,968 shares of the company’s stock, valued at $44,173,422.72. This trade represents a 29.24 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

C3.ai Trading Down 4.0 %

NYSE AI opened at $31.60 on Friday. The business’s 50-day moving average price is $34.74 and its two-hundred day moving average price is $29.35. C3.ai, Inc. has a 12 month low of $18.85 and a 12 month high of $45.08. The firm has a market capitalization of $4.08 billion, a PE ratio of -14.30 and a beta of 1.98.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. KeyCorp cut C3.ai from a “sector weight” rating to an “underweight” rating and set a $29.00 target price for the company. in a report on Thursday, December 19th. Canaccord Genuity Group upped their target price on C3.ai from $23.00 to $40.00 and gave the stock a “hold” rating in a report on Wednesday, December 11th. Morgan Stanley upped their target price on C3.ai from $21.00 to $32.00 and gave the stock an “underweight” rating in a report on Tuesday, December 10th. JPMorgan Chase & Co. cut C3.ai from a “neutral” rating to an “underweight” rating and set a $28.00 target price for the company. in a report on Wednesday, December 11th. Finally, DA Davidson raised C3.ai to a “hold” rating in a report on Wednesday, December 18th. Five 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 MarketBeat, the company presently has an average rating of “Hold” and an average price target of $35.00.

Institutional Investors Weigh In On C3.ai

Several institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its position 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 in the last quarter. Geode Capital Management LLC boosted its position in shares of C3.ai by 14.1% during the 4th quarter. Geode Capital Management LLC now owns 2,529,991 shares of the company’s stock valued at $87,128,000 after purchasing an additional 313,066 shares in the last quarter. State Street Corp boosted its position in shares of C3.ai by 1.8% during the 3rd quarter. State Street Corp now owns 2,121,391 shares of the company’s stock valued at $51,401,000 after purchasing an additional 38,185 shares in the last quarter. Northern Trust Corp boosted its holdings in C3.ai by 28.7% in the fourth quarter. Northern Trust Corp now owns 1,055,075 shares of the company’s stock worth $36,326,000 after acquiring an additional 235,364 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in C3.ai by 10.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 933,139 shares of the company’s stock worth $32,128,000 after acquiring an additional 88,750 shares in the last quarter. Institutional investors own 38.96% of the company’s stock.

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.