C3.ai, Inc. (NYSE:AI - Get Free Report) CEO Thomas M. Siebel sold 294,116 shares of the business's stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $21.50, for a total value of $6,323,494.00. Following the completion of the transaction, the chief executive officer now directly owns 943,151 shares of the company's stock, valued at approximately $20,277,746.50. This trade represents a 23.77 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.
C3.ai Stock Performance
Shares of AI traded up $0.27 during mid-day trading on Friday, hitting $22.65. 3,865,835 shares of the stock were exchanged, compared to its average volume of 5,245,350. The company has a market cap of $3.01 billion, a PE ratio of -10.25 and a beta of 2.03. C3.ai, Inc. has a 52-week low of $18.85 and a 52-week high of $45.08. The firm has a 50-day moving average of $28.42 and a two-hundred day moving average of $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 for the quarter, missing the consensus estimate 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 company had revenue of $98.78 million for the quarter, compared to analysts' expectations of $98.12 million. On average, sell-side analysts predict that C3.ai, Inc. will post -2.44 EPS for the current year.
Hedge Funds Weigh In On C3.ai
Several hedge funds have recently bought and sold shares of AI. Brown Lisle Cummings Inc. grew its position in shares of C3.ai by 100.0% during the 4th quarter. Brown Lisle Cummings Inc. now owns 800 shares of the company's stock worth $28,000 after buying an additional 400 shares in the last quarter. Russell Investments Group Ltd. lifted its position in C3.ai by 100.7% during the fourth quarter. Russell Investments Group Ltd. now owns 909 shares of the company's stock valued at $31,000 after acquiring an additional 456 shares during the last quarter. Victory Capital Management Inc. lifted its position in C3.ai by 3.4% during the third quarter. Victory Capital Management Inc. now owns 14,078 shares of the company's stock valued at $341,000 after acquiring an additional 457 shares during the last quarter. Legal & General Group Plc lifted its position in C3.ai by 0.4% during the fourth quarter. Legal & General Group Plc now owns 119,144 shares of the company's stock valued at $4,102,000 after acquiring an additional 517 shares during the last quarter. Finally, Geneos Wealth Management Inc. increased its stake in C3.ai by 72.4% during the 4th quarter. Geneos Wealth Management Inc. now owns 1,322 shares of the company's stock valued at $46,000 after purchasing an additional 555 shares in the last quarter. Institutional investors own 38.96% of the company's stock.
Wall Street Analysts Forecast Growth
A number of brokerages recently issued reports on AI. KeyCorp cut their price objective on C3.ai from $29.00 to $21.00 and set an "underweight" rating for the company in a research note on Thursday, February 27th. JPMorgan Chase & Co. downgraded C3.ai from a "neutral" rating to an "underweight" rating and set a $28.00 price target for the company. in a research note on Wednesday, December 11th. Canaccord Genuity Group dropped their price target on C3.ai from $40.00 to $30.00 and set a "hold" rating for the company in a research note on Thursday, February 27th. Morgan Stanley dropped their price target on C3.ai from $32.00 to $30.00 and set an "underweight" rating for the company in a research note on Thursday, February 27th. Finally, Piper Sandler dropped their price target 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. Five research analysts have rated the stock with a sell rating, five have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $31.33.
Read Our Latest Stock Analysis on AI
About C3.ai
(
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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