C3.ai, Inc. (NYSE:AI) CEO Thomas M. Siebel Sells 272,079 Shares

C3.ai, Inc. (NYSE:AI) CEO Thomas M. Siebel sold 272,079 shares of C3.ai stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $23.99, for a total transaction of $6,527,175.21. Following the completion of the transaction, the chief executive officer now directly owns 4,402,564 shares of the company’s stock, valued at $105,617,510.36. This trade represents a 5.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.

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 stock was sold at an average price of $19.47, for a total transaction of $264,149.49.

C3.ai Price Performance

NYSE AI opened at $23.37 on Friday. C3.ai, Inc. has a 12 month low of $17.03 and a 12 month high of $45.08. The firm has a market capitalization of $3.10 billion, a PE ratio of -10.57 and a beta of 1.99. The company’s 50 day simple moving average is $21.51 and its 200 day simple moving average is $28.50.

C3.ai (NYSE:AI) last issued 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). The firm had revenue of $98.78 million for the quarter, compared to analyst estimates of $98.12 million. C3.ai had a negative net margin of 79.17% and a negative return on equity of 31.31%. Sell-side analysts anticipate that C3.ai, Inc. will post -2.44 earnings per share for the current fiscal year.

Hedge Funds Weigh In On C3.ai

Several large investors have recently made changes to their positions in the business. Brown Lisle Cummings Inc. lifted its stake in C3.ai by 100.0% during the fourth quarter. Brown Lisle Cummings Inc. now owns 800 shares of the company’s stock valued at $28,000 after purchasing an additional 400 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in shares of C3.ai by 100.7% during the 4th quarter. Russell Investments Group Ltd. now owns 909 shares of the company’s stock worth $31,000 after acquiring an additional 456 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of C3.ai by 8.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 6,546 shares of the company’s stock worth $138,000 after acquiring an additional 510 shares during the last quarter. Legal & General Group Plc raised its position in shares of C3.ai by 0.4% during the fourth quarter. Legal & General Group Plc now owns 119,144 shares of the company’s stock worth $4,102,000 after purchasing an additional 517 shares during the period. Finally, Geneos Wealth Management Inc. lifted its position in shares of C3.ai by 72.4% in the 4th quarter. Geneos Wealth Management Inc. now owns 1,322 shares of the company’s stock valued at $46,000 after acquiring an additional 555 shares in the last quarter. Institutional investors own 38.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on AI shares. Morgan Stanley lowered their target price on C3.ai from $30.00 to $20.00 and set an “underweight” rating for the company in a report on Wednesday, April 16th. DA Davidson dropped their target price on C3.ai from $25.00 to $18.00 and set a “neutral” rating on the stock in a research report on Monday, April 14th. Piper Sandler reduced their price target on shares of C3.ai from $42.00 to $28.00 and set a “neutral” rating for the company in a report on Thursday, February 27th. Needham & Company LLC reaffirmed a “hold” rating on shares of C3.ai in a report on Thursday, February 27th. Finally, Canaccord Genuity Group reduced their target price on shares of C3.ai from $40.00 to $30.00 and set a “hold” rating for the company in a research note on Thursday, February 27th. Five equities 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 company. Based on data from MarketBeat, C3.ai has a consensus rating of “Hold” and an average price target of $29.58.

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.