C3.ai, Inc. (NYSE:AI) CEO Sells $7,196,079.42 in Stock

C3.ai, Inc. (NYSE:AI - Get Free Report) CEO Thomas M. Siebel sold 356,418 shares of the company's stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $20.19, for a total transaction of $7,196,079.42. Following the transaction, the chief executive officer now owns 241,768 shares in the company, valued at $4,881,295.92. The trade was a 59.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Thomas M. Siebel also recently made the following trade(s):

• On Wednesday, April 16th, Thomas M. Siebel sold 13,567 shares of C3.ai stock. The shares were sold at an average price of $19.47, for a total transaction of $264,149.49.

C3.ai Price Performance

Shares of C3.ai stock traded up $0.03 during trading on Friday, hitting $19.38. 2,348,902 shares of the company's stock traded hands, compared to its average volume of 5,202,811. The firm's fifty day moving average price is $23.46 and its 200 day moving average price is $28.92. The company has a market cap of $2.57 billion, a PE ratio of -8.77 and a beta of 2.01. C3.ai, Inc. has a twelve month low of $17.03 and a twelve month high of $45.08.

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

Institutional Trading of C3.ai

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

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. DA Davidson reduced their target price on shares of C3.ai from $25.00 to $18.00 and set a "neutral" rating on the stock in a report on Monday. Morgan Stanley cut their price target on C3.ai from $30.00 to $20.00 and set an "underweight" rating for the company in a report on Wednesday. Piper Sandler dropped 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. KeyCorp decreased their price target on C3.ai from $21.00 to $17.00 and set an "underweight" rating on the stock in a research note on Thursday. Finally, Needham & Company LLC reiterated a "hold" rating on shares of C3.ai in a report on Thursday, February 27th. 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 assigned a strong buy rating to the stock. According to MarketBeat.com, C3.ai currently has an average rating of "Hold" and a consensus price target of $29.58.

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.