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

C3.ai, Inc. (NYSE:AI) CEO Thomas M. Siebel sold 356,418 shares of the stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $20.19, for a total value 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. This represents a 59.58 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available 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 value of $264,149.49.

C3.ai Price Performance

NYSE:AI opened at $19.38 on Friday. C3.ai, Inc. has a 1-year low of $17.03 and a 1-year high of $45.08. The firm has a market capitalization of $2.57 billion, a price-to-earnings ratio of -8.77 and a beta of 2.01. The company’s 50-day moving average is $23.20 and its two-hundred day moving average is $28.90.

C3.ai (NYSE:AI) last announced its 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). The company had revenue of $98.78 million for the quarter, compared to analysts’ expectations 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 analysts anticipate that C3.ai, Inc. will post -2.44 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have weighed in on AI shares. Morgan Stanley reduced their price objective on shares of C3.ai from $30.00 to $20.00 and set an “underweight” rating for the company in a research report on Wednesday. Needham & Company LLC reaffirmed a “hold” rating on shares of C3.ai in a research note on Thursday, February 27th. KeyCorp cut their price objective on C3.ai from $21.00 to $17.00 and set an “underweight” rating for the company in a research note on Thursday. Canaccord Genuity Group lowered their price target on C3.ai from $40.00 to $30.00 and set a “hold” rating on the stock in a research note on Thursday, February 27th. Finally, DA Davidson reduced their price objective on C3.ai from $25.00 to $18.00 and set a “neutral” rating for the company in a research note on Monday, April 14th. Five analysts have rated the stock with a sell rating, five have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $29.58.

Hedge Funds Weigh In On C3.ai

Hedge funds and other institutional investors have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its position in C3.ai by 10.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 933,139 shares of the company’s stock valued at $32,128,000 after purchasing an additional 88,750 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of C3.ai during the fourth quarter worth about $3,996,000. Vanguard Group Inc. lifted its stake in 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 buying an additional 446,529 shares during the last quarter. Janney Montgomery Scott LLC raised its position in C3.ai by 70.9% in the 4th quarter. Janney Montgomery Scott LLC now owns 55,339 shares of the company’s stock valued at $1,905,000 after purchasing an additional 22,949 shares during the last quarter. Finally, Strategic Financial Concepts LLC acquired a new stake in shares of C3.ai during the fourth quarter worth about $2,015,000. 38.96% of the stock is currently owned by hedge funds and other institutional investors.

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.