C3.ai, Inc. (NYSE:AI) CEO Thomas M. Siebel Sells 552,422 Shares of Stock

C3.ai, Inc. (NYSE:AI) CEO Thomas M. Siebel sold 552,422 shares of the firm’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $33.04, for a total transaction of $18,252,022.88. Following the sale, the chief executive officer now directly owns 1,336,968 shares in the company, valued at approximately $44,173,422.72. The trade was a 29.24 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

C3.ai Trading Up 1.2 %

Shares of NYSE:AI opened at $32.89 on Friday. The stock has a 50 day moving average of $35.01 and a 200 day moving average of $29.28. The company has a market cap of $4.24 billion, a PE ratio of -14.88 and a beta of 1.98. C3.ai, Inc. has a 12-month low of $18.85 and a 12-month high of $45.08.

Hedge Funds Weigh In On C3.ai

A number of hedge funds have recently modified their holdings of AI. Renaissance Technologies LLC raised its position in shares of C3.ai by 1,242.5% during the 4th quarter. Renaissance Technologies LLC now owns 718,231 shares of the company’s stock valued at $24,729,000 after purchasing an additional 664,731 shares during the period. Vanguard Group Inc. increased its stake in C3.ai by 3.6% in the 4th quarter. Vanguard Group Inc. now owns 12,935,969 shares of the company’s stock worth $445,385,000 after buying an additional 446,529 shares in the last quarter. Geode Capital Management LLC raised its holdings in C3.ai by 14.1% during the fourth quarter. Geode Capital Management LLC now owns 2,529,991 shares of the company’s stock valued at $87,128,000 after acquiring an additional 313,066 shares during the period. Norges Bank purchased a new position in shares of C3.ai in the fourth quarter valued at about $9,271,000. Finally, Rockefeller Capital Management L.P. boosted its stake in shares of C3.ai by 712.5% in the fourth quarter. Rockefeller Capital Management L.P. now owns 201,823 shares of the company’s stock worth $6,949,000 after acquiring an additional 176,982 shares during the period. 38.96% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on AI shares. KeyCorp downgraded shares of C3.ai from a “sector weight” rating to an “underweight” rating and set a $29.00 price objective on the stock. in a research report on Thursday, December 19th. Needham & Company LLC reissued a “hold” rating on shares of C3.ai in a report on Tuesday, December 10th. StockNews.com raised C3.ai to a “sell” rating in a report on Tuesday, November 26th. Piper Sandler upped their price objective on C3.ai from $24.00 to $42.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. Finally, Canaccord Genuity Group raised their target price on C3.ai from $23.00 to $40.00 and gave the stock a “hold” rating in a research report on Wednesday, December 11th. Five investment analysts have rated the stock with a sell rating, five have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $35.00.

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.