C3.ai, Inc. (NYSE:AI) CEO Thomas M. Siebel sold 500,000 shares of the firm’s stock in a transaction dated Monday, June 7th. The shares were sold at an average price of $60.25, for a total value of $30,125,000.00. Following the sale, the chief executive officer now owns 1,756,390 shares of the company’s stock, valued at $105,822,497.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
Shares of NYSE AI opened at $58.08 on Friday. The stock has a 50-day simple moving average of $62.46. C3.ai, Inc. has a 52-week low of $47.22 and a 52-week high of $183.90. The company has a market capitalization of $5.86 billion and a PE ratio of -64.53.
C3.ai (NYSE:AI) last released its quarterly earnings results on Tuesday, June 1st. The company reported ($0.24) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.29) by $0.05. The business had revenue of $52.28 million for the quarter, compared to the consensus estimate of $50.60 million. The firm’s revenue was up 25.6% compared to the same quarter last year. Analysts forecast that C3.ai, Inc. will post -1.12 EPS for the current year.
A number of research firms recently commented on AI. Piper Sandler decreased their price target on C3.ai from $141.00 to $98.00 and set an “overweight” rating for the company in a research note on Thursday, June 3rd. Deutsche Bank Aktiengesellschaft decreased their price target on C3.ai from $98.00 to $63.00 and set a “hold” rating for the company in a research note on Thursday, June 3rd. Needham & Company LLC decreased their price target on C3.ai from $195.00 to $146.00 and set a “buy” rating for the company in a research note on Thursday, June 3rd. They noted that the move was a valuation call. Wedbush decreased their price target on C3.ai from $175.00 to $100.00 and set an “outperform” rating for the company in a research note on Thursday, June 3rd. Finally, Canaccord Genuity decreased their price target on C3.ai from $120.00 to $75.00 and set a “hold” rating for the company in a research note on Thursday, June 3rd. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company’s stock. C3.ai presently has a consensus rating of “Hold” and an average target price of $107.22.
C3.ai, Inc operates as an enterprise artificial intelligence (AI) software company. The company provides software-as-a-service applications for enterprises. Its software solutions include C3 AI Suite, a platform-as-a-service application development and runtime environment that enables customers to design, develop, and deploy enterprise AI applications; and C3 AI Applications, which include industry-specific and application-specific turnkey AI solutions.
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