C3.ai, Inc. (NYSE:AI) CEO Sells $447,100.00 in Stock

C3.ai, Inc. (NYSE:AI) CEO Thomas M. Siebel sold 17,000 shares of the stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $26.30, for a total value of $447,100.00. Following the transaction, the chief executive officer now directly owns 15,736 shares of the company’s stock, valued at approximately $413,856.80. The trade was a 51.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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 Stock Performance

Shares of C3.ai stock opened at $25.62 on Wednesday. The firm has a market capitalization of $3.40 billion, a price-to-earnings ratio of -11.59 and a beta of 1.99. C3.ai, Inc. has a fifty-two week low of $17.03 and a fifty-two week high of $45.08. The stock has a 50 day moving average of $21.97 and a 200 day moving average of $28.29.

C3.ai (NYSE:AI) last released its quarterly earnings results on Wednesday, May 28th. The company reported ($0.16) EPS for the quarter, topping the consensus estimate of ($0.20) by $0.04. The business had revenue of $108.72 million during the quarter, compared to analyst estimates of $107.85 million. C3.ai had a negative return on equity of 31.31% and a negative net margin of 79.17%. The company’s quarterly revenue was up 25.5% on a year-over-year basis. During the same period last year, the business posted ($0.11) earnings per share. Analysts forecast that C3.ai, Inc. will post -2.44 EPS for the current year.

Institutional Trading of C3.ai

A number of hedge funds and other institutional investors have recently bought and sold shares of AI. Two Sigma Investments LP acquired a new stake in C3.ai in the fourth quarter valued at $42,306,000. Man Group plc acquired a new stake in shares of C3.ai during the fourth quarter worth about $38,455,000. Two Sigma Advisers LP acquired a new stake in shares of C3.ai during the fourth quarter worth about $30,725,000. Renaissance Technologies LLC increased its position in shares of C3.ai by 1,242.5% during the fourth quarter. Renaissance Technologies LLC now owns 718,231 shares of the company’s stock worth $24,729,000 after purchasing an additional 664,731 shares in the last quarter. Finally, Vident Advisory LLC increased its position in shares of C3.ai by 3,935.9% during the first quarter. Vident Advisory LLC now owns 568,492 shares of the company’s stock worth $11,967,000 after purchasing an additional 554,406 shares in the last quarter. 38.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Oppenheimer lowered their price objective on C3.ai from $56.00 to $45.00 and set an “outperform” rating for the company in a research note on Thursday, May 29th. UBS Group reaffirmed a “neutral” rating and issued a $28.00 price objective (up from $26.00) on shares of C3.ai in a research note on Thursday, May 29th. Needham & Company LLC reaffirmed a “hold” rating on shares of C3.ai in a research note on Thursday, May 29th. Morgan Stanley raised their price objective on C3.ai from $20.00 to $22.00 and gave the company an “underweight” rating in a research note on Thursday, May 29th. Finally, JPMorgan Chase & Co. lowered their price objective on C3.ai from $27.00 to $23.00 and set an “underweight” rating for the company in a research note on Thursday, May 29th. Five equities research analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, C3.ai currently has an average rating of “Hold” and a consensus target price of $29.46.

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.