C3.ai, Inc. (NYSE:AI) CEO Sells $6,323,494.00 in Stock

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

C3.ai Stock Performance

C3.ai stock traded up $0.22 during midday trading on Tuesday, hitting $22.16. 3,716,753 shares of the company’s stock were exchanged, compared to its average volume of 5,251,488. The stock has a market cap of $2.94 billion, a price-to-earnings ratio of -10.03 and a beta of 2.03. The firm’s 50 day simple moving average is $29.05 and its 200 day simple moving average is $29.39. C3.ai, Inc. has a 12-month low of $18.85 and a 12-month high of $45.08.

C3.ai (NYSE:AI) last issued its earnings results 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). The firm had revenue of $98.78 million during the quarter, compared to analysts’ expectations of $98.12 million. C3.ai had a negative net margin of 79.17% and a negative return on equity of 31.31%. On average, equities research analysts forecast that C3.ai, Inc. will post -2.44 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. JPMorgan Chase & Co. lowered shares of C3.ai from a “neutral” rating to an “underweight” rating and set a $28.00 price target on the stock. in a research note on Wednesday, December 11th. Morgan Stanley cut their price target on shares of C3.ai from $32.00 to $30.00 and set an “underweight” rating on the stock in a research note on Thursday, February 27th. Piper Sandler cut their price target 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. StockNews.com upgraded shares of C3.ai to a “sell” rating in a research note on Tuesday, November 26th. Finally, JMP Securities lifted their price target on shares of C3.ai from $40.00 to $55.00 and gave the stock a “market outperform” rating in a research note on Tuesday, December 10th. Five analysts have rated the stock with a sell rating, five have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, C3.ai currently has a consensus rating of “Hold” and an average price target of $31.33.

Institutional Trading of C3.ai

Several hedge funds and other institutional investors have recently made changes to their positions in AI. Brown Lisle Cummings Inc. boosted its holdings 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 valued at $28,000 after acquiring an additional 400 shares in the last quarter. R Squared Ltd purchased a new stake in C3.ai during the fourth quarter worth about $29,000. Russell Investments Group Ltd. boosted its holdings in C3.ai by 100.7% during the fourth quarter. Russell Investments Group Ltd. now owns 909 shares of the company’s stock worth $31,000 after buying an additional 456 shares in the last quarter. WealthTrak Capital Management LLC purchased a new stake in C3.ai during the fourth quarter worth about $33,000. Finally, CENTRAL TRUST Co purchased a new stake in C3.ai during the fourth quarter worth about $34,000. Hedge funds and other 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.