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Insider Selling: C3.ai, Inc. (NYSE:AI) CEO Sells 552,422 Shares of Stock

C3.ai logo with Computer and Technology background

C3.ai, Inc. (NYSE:AI - Get Free Report) CEO Thomas M. Siebel sold 552,422 shares of the firm's stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now directly owns 1,336,968 shares of the company's stock, valued at approximately $44,173,422.72. This represents a 29.24 % 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 Trading Down 4.0 %

Shares of C3.ai stock traded down $1.31 during trading on Monday, hitting $31.60. 4,246,412 shares of the stock were exchanged, compared to its average volume of 4,364,987. The company has a fifty day moving average price of $34.74 and a 200-day moving average price of $29.37. The stock has a market capitalization of $4.08 billion, a price-to-earnings ratio of -14.30 and a beta of 1.98. C3.ai, Inc. has a 1-year low of $18.85 and a 1-year high of $45.08.

Analyst Ratings Changes

Several analysts have weighed in on AI shares. DA Davidson raised C3.ai to a "hold" rating in a report on Wednesday, December 18th. StockNews.com upgraded shares of C3.ai to a "sell" rating in a report on Tuesday, November 26th. JMP Securities lifted their target price on shares of C3.ai from $40.00 to $55.00 and gave the stock a "market outperform" rating in a report on Tuesday, December 10th. JPMorgan Chase & Co. downgraded 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. Finally, Piper Sandler lifted their price objective on C3.ai from $24.00 to $42.00 and gave the stock a "neutral" rating in a research note on Tuesday, December 10th. Five research 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 company's stock. According to MarketBeat.com, C3.ai currently has a consensus rating of "Hold" and a consensus price target of $35.00.

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Hedge Funds Weigh In On C3.ai

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in shares of C3.ai by 3.6% in the fourth quarter. Vanguard Group Inc. now owns 12,935,969 shares of the company's stock valued at $445,385,000 after acquiring an additional 446,529 shares in the last quarter. Geode Capital Management LLC boosted its holdings in C3.ai by 14.1% in the 4th quarter. Geode Capital Management LLC now owns 2,529,991 shares of the company's stock valued at $87,128,000 after purchasing an additional 313,066 shares during the period. State Street Corp grew its position in shares of C3.ai by 1.8% during the 3rd quarter. State Street Corp now owns 2,121,391 shares of the company's stock worth $51,401,000 after purchasing an additional 38,185 shares in the last quarter. Two Sigma Investments LP bought a new position in shares of C3.ai during the fourth quarter worth approximately $42,306,000. Finally, Man Group plc acquired a new stake in shares of C3.ai in the fourth quarter valued at approximately $38,455,000. Institutional investors and hedge funds own 38.96% of the company's stock.

C3.ai Company Profile

(Get Free Report)

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.

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