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 the firm’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $21.88, for a total value of $4,747,391.12. Following the completion of the transaction, the chief executive officer now owns 726,177 shares in the company, valued at $15,888,752.76. The trade was a 23.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

C3.ai Stock Up 1.0 %

Shares of AI stock traded up $0.22 during mid-day trading on Tuesday, reaching $22.16. 3,716,753 shares of the stock traded hands, compared to its average volume of 5,251,488. The stock’s fifty day simple moving average is $29.05 and its two-hundred day simple moving average is $29.39. C3.ai, Inc. has a 1-year low of $18.85 and a 1-year high of $45.08. The company has a market cap of $2.94 billion, a price-to-earnings ratio of -10.03 and a beta of 2.03.

C3.ai (NYSE:AI) last announced its quarterly earnings results on Wednesday, February 26th. The company reported ($0.62) EPS for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.37). C3.ai had a negative net margin of 79.17% and a negative return on equity of 31.31%. The firm had revenue of $98.78 million for the quarter, compared to analyst estimates of $98.12 million. On average, equities research analysts anticipate that C3.ai, Inc. will post -2.44 EPS for the current fiscal year.

Institutional Trading of C3.ai

A number of hedge funds have recently made changes to their positions in AI. Brown Lisle Cummings Inc. lifted 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 acquiring an additional 400 shares during the period. Russell Investments Group Ltd. lifted 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 acquiring an additional 456 shares during the period. Victory Capital Management Inc. lifted its stake in C3.ai by 3.4% in the third quarter. Victory Capital Management Inc. now owns 14,078 shares of the company’s stock valued at $341,000 after buying an additional 457 shares during the period. Legal & General Group Plc lifted its stake in C3.ai by 0.4% in the fourth quarter. Legal & General Group Plc now owns 119,144 shares of the company’s stock valued at $4,102,000 after buying an additional 517 shares during the period. Finally, Geneos Wealth Management Inc. lifted its stake 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 buying an additional 555 shares during the period. 38.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AI has been the topic of a number of recent analyst reports. JMP Securities raised their price target on C3.ai from $40.00 to $55.00 and gave the stock a “market outperform” rating in a research report on Tuesday, December 10th. DA Davidson decreased their price target on C3.ai from $40.00 to $25.00 and set a “neutral” rating on the stock in a research report on Thursday, February 27th. Canaccord Genuity Group decreased their target price on C3.ai from $40.00 to $30.00 and set a “hold” rating on the stock in a research report on Thursday, February 27th. Piper Sandler decreased their target price on C3.ai from $42.00 to $28.00 and set a “neutral” rating on the stock in a research report on Thursday, February 27th. Finally, JPMorgan Chase & Co. cut C3.ai from a “neutral” rating to an “underweight” rating and set a $28.00 target price on the stock. in a research report on Wednesday, December 11th. 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 assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $31.33.

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.