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

C3.ai, Inc. (NYSE:AI) CEO Thomas M. Siebel sold 294,116 shares of the company’s stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $21.50, for a total value of $6,323,494.00. Following 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

C3.ai Stock Up 2.4 %

AI stock opened at $22.66 on Thursday. The company has a market capitalization of $3.01 billion, a P/E ratio of -10.25 and a beta of 2.03. The company has a 50-day simple moving average of $28.84 and a 200 day simple moving average of $29.34. C3.ai, Inc. has a fifty-two week low of $18.85 and a fifty-two week high of $45.08.

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

Hedge Funds Weigh In On C3.ai

Hedge funds have recently modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its stake in C3.ai by 12.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 844,389 shares of the company’s stock valued at $20,460,000 after buying an additional 92,280 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in C3.ai in the 4th quarter valued at about $3,996,000. PDT Partners LLC bought a new position in shares of C3.ai during the 3rd quarter valued at about $1,624,000. Janney Montgomery Scott LLC grew its stake in shares of C3.ai by 70.9% in the 4th quarter. Janney Montgomery Scott LLC now owns 55,339 shares of the company’s stock worth $1,905,000 after purchasing an additional 22,949 shares during the last quarter. Finally, Strategic Financial Concepts LLC bought a new stake in shares of C3.ai in the 4th quarter worth approximately $2,015,000. 38.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of C3.ai in a report on Thursday, February 27th. JPMorgan Chase & Co. lowered shares of C3.ai from a “neutral” rating to an “underweight” rating and set a $28.00 price objective on the stock. in a research note on Wednesday, December 11th. Piper Sandler decreased their target price on C3.ai from $42.00 to $28.00 and set a “neutral” rating for the company in a research note on Thursday, February 27th. DA Davidson dropped 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. Finally, StockNews.com upgraded C3.ai to a “sell” rating in a research note on Tuesday, November 26th. Five investment analysts have rated the stock with a sell rating, five have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $31.33.

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.