C3.ai, Inc. (NYSE:AI) CEO Thomas M. Siebel Sells 294,116 Shares

C3.ai, Inc. (NYSE:AI) CEO Thomas M. Siebel sold 294,116 shares of the stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $21.50, for a total transaction of $6,323,494.00. Following the completion of the transaction, the chief executive officer now directly owns 943,151 shares of the company’s stock, valued at $20,277,746.50. This trade represents a 23.77 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

C3.ai Stock Performance

Shares of NYSE:AI opened at $22.38 on Friday. The business’s 50 day simple moving average is $28.62 and its two-hundred day simple moving average is $29.29. The firm has a market cap of $2.97 billion, a P/E ratio of -10.13 and a beta of 2.03. C3.ai, Inc. has a 52-week low of $18.85 and a 52-week high of $45.08.

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

Analyst Ratings Changes

Several research analysts have recently issued reports on AI shares. StockNews.com raised C3.ai to a “sell” rating in a research note on Tuesday, November 26th. KeyCorp lowered their price objective on C3.ai from $29.00 to $21.00 and set an “underweight” rating for the company in a research note on Thursday, February 27th. Needham & Company LLC reaffirmed a “hold” rating on shares of C3.ai in a research note on Thursday, February 27th. Morgan Stanley lowered their price objective on 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, Northland Securities upped their price objective on C3.ai from $35.00 to $45.00 and gave the company an “outperform” rating in a research note on Tuesday, December 10th. Five research analysts have rated the stock with a sell rating, five have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, C3.ai presently has an average rating of “Hold” and an average target price of $31.33.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Brown Lisle Cummings Inc. raised its stake in shares of 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 last quarter. Russell Investments Group Ltd. raised its stake in shares of C3.ai by 100.7% in the fourth quarter. Russell Investments Group Ltd. now owns 909 shares of the company’s stock worth $31,000 after purchasing an additional 456 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of C3.ai by 3.4% in the third 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 last quarter. Legal & General Group Plc raised its stake in shares of C3.ai by 0.4% in the fourth quarter. Legal & General Group Plc now owns 119,144 shares of the company’s stock worth $4,102,000 after purchasing an additional 517 shares during the last quarter. Finally, Geneos Wealth Management Inc. raised its stake in shares of C3.ai by 72.4% in the fourth quarter. Geneos Wealth Management Inc. now owns 1,322 shares of the company’s stock worth $46,000 after purchasing an additional 555 shares during the last quarter. 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.