C3.ai, Inc. (NYSE:AI) CEO Thomas M. Siebel Sells 216,974 Shares

C3.ai, Inc. (NYSE:AI - Get Free Report) CEO Thomas M. Siebel sold 216,974 shares of the stock in a transaction on Monday, March 17th. The shares were sold at an average price of $21.88, for a total transaction of $4,747,391.12. Following the transaction, the chief executive officer now directly owns 726,177 shares in the company, valued at approximately $15,888,752.76. The trade was a 23.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

C3.ai Stock Performance

NYSE AI traded up $0.27 during trading hours on Friday, reaching $22.65. The company's stock had a trading volume of 3,865,835 shares, compared to its average volume of 5,245,350. C3.ai, Inc. has a fifty-two week low of $18.85 and a fifty-two week high of $45.08. The stock has a market cap of $3.01 billion, a PE ratio of -10.25 and a beta of 2.03. The company's 50-day moving average is $28.42 and its two-hundred day moving average is $29.33.

C3.ai (NYSE:AI - Get Free Report) last released its quarterly earnings results on Wednesday, February 26th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $98.78 million for the quarter, compared to analyst estimates of $98.12 million. Equities analysts expect that C3.ai, Inc. will post -2.44 earnings per share for the current fiscal year.

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Analysts Set New Price Targets

AI has been the topic of a number of analyst reports. KeyCorp reduced their target price on shares of C3.ai from $29.00 to $21.00 and set an "underweight" rating on the stock in a research note on Thursday, February 27th. JPMorgan Chase & Co. cut shares of C3.ai from a "neutral" rating to an "underweight" rating and set a $28.00 price target for the company. in a research report on Wednesday, December 11th. Morgan Stanley dropped their price objective on shares of C3.ai from $32.00 to $30.00 and set an "underweight" rating for the company in a report on Thursday, February 27th. Northland Securities lifted their price objective on shares of C3.ai from $35.00 to $45.00 and gave the company an "outperform" rating in a report on Tuesday, December 10th. Finally, DA Davidson dropped their price objective on shares of C3.ai from $40.00 to $25.00 and set a "neutral" rating for the company in a report on Thursday, February 27th. Five investment analysts have rated the stock with a sell rating, five have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, C3.ai presently has an average rating of "Hold" and an average target price of $31.33.

Institutional Investors Weigh In On C3.ai

Several hedge funds have recently modified their holdings of the stock. California State Teachers Retirement System lifted its position in C3.ai by 2.4% during the fourth quarter. California State Teachers Retirement System now owns 103,932 shares of the company's stock valued at $3,578,000 after buying an additional 2,442 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in C3.ai by 44.0% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 16,180 shares of the company's stock valued at $557,000 after buying an additional 4,941 shares in the last quarter. Probity Advisors Inc. lifted its position in C3.ai by 10.0% during the fourth quarter. Probity Advisors Inc. now owns 16,706 shares of the company's stock valued at $575,000 after buying an additional 1,514 shares in the last quarter. Total Wealth Planning & Management Inc. acquired a new position in C3.ai during the fourth quarter valued at approximately $339,000. Finally, Mackenzie Financial Corp acquired a new position in C3.ai during the fourth quarter valued at approximately $229,000. 38.96% of the stock is owned by institutional investors and hedge funds.

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.