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

C3.ai, Inc. (NYSE:AI) CEO Thomas M. Siebel sold 216,974 shares of C3.ai 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 sale, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

C3.ai Price Performance

C3.ai stock opened at $22.66 on Thursday. The stock has a market cap of $3.01 billion, a price-to-earnings ratio of -10.25 and a beta of 2.03. The firm has a 50 day simple moving average of $28.84 and a 200-day simple moving average of $29.34. C3.ai, Inc. has a 1-year low of $18.85 and a 1-year high of $45.08.

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

Institutional Trading of C3.ai

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

Analysts Set New Price Targets

Several research firms recently issued reports on AI. Northland Securities lifted their price objective on C3.ai from $35.00 to $45.00 and gave the stock an “outperform” rating in a report on Tuesday, December 10th. Needham & Company LLC reaffirmed a “hold” rating on shares of C3.ai in a research note on Thursday, February 27th. Canaccord Genuity Group reduced their price objective on C3.ai from $40.00 to $30.00 and set a “hold” rating for the company in a research note on Thursday, February 27th. Piper Sandler lowered their target price on shares of C3.ai from $42.00 to $28.00 and set a “neutral” rating on the stock in a research note on Thursday, February 27th. Finally, JMP Securities increased their target price 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. Five equities research analysts have rated the stock with a sell rating, five have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average 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.