C3.ai, Inc. (NYSE:AI) CEO Thomas M. Siebel Sells 341,698 Shares

C3.ai, Inc. (NYSE:AI) CEO Thomas M. Siebel sold 341,698 shares of the company’s stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $24.00, for a total transaction of $8,200,752.00. Following the transaction, the chief executive officer now owns 4,674,643 shares of the company’s stock, valued at approximately $112,191,432. This represents a 6.81% decrease in their position. The sale was disclosed in a legal 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 transaction of $264,149.49.

C3.ai Stock Performance

NYSE:AI opened at $23.37 on Friday. The firm has a 50-day simple moving average of $21.51 and a 200-day simple moving average of $28.50. C3.ai, Inc. has a one year low of $17.03 and a one year high of $45.08. The firm has a market cap of $3.10 billion, a P/E ratio of -10.57 and a beta of 1.99.

C3.ai (NYSE:AI) last released its quarterly earnings data 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). C3.ai had a negative net margin of 79.17% and a negative return on equity of 31.31%. The business had revenue of $98.78 million for the quarter, compared to the consensus estimate of $98.12 million. On average, research analysts predict that C3.ai, Inc. will post -2.44 EPS for the current fiscal year.

Institutional Trading of C3.ai

A number of institutional investors have recently modified their holdings of the company. AQR Capital Management LLC boosted its holdings in shares of C3.ai by 267.9% in the 1st quarter. AQR Capital Management LLC now owns 181,354 shares of the company’s stock valued at $3,788,000 after buying an additional 132,056 shares in the last quarter. Perbak Capital Partners LLP bought a new stake in shares of C3.ai in the 1st quarter valued at about $341,000. Nomura Holdings Inc. boosted its holdings in shares of C3.ai by 605.5% in the 1st quarter. Nomura Holdings Inc. now owns 62,264 shares of the company’s stock valued at $1,311,000 after buying an additional 53,439 shares in the last quarter. Vident Advisory LLC boosted its holdings in shares of C3.ai by 3,935.9% in the 1st quarter. Vident Advisory LLC now owns 568,492 shares of the company’s stock valued at $11,967,000 after buying an additional 554,406 shares in the last quarter. Finally, Canada Pension Plan Investment Board boosted its holdings in shares of C3.ai by 570.6% in the 1st quarter. Canada Pension Plan Investment Board now owns 203,200 shares of the company’s stock valued at $4,277,000 after buying an additional 172,900 shares in the last quarter. 38.96% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on AI. KeyCorp reduced their target price on shares of C3.ai from $21.00 to $17.00 and set an “underweight” rating on the stock in a research note on Thursday, April 17th. 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 research note on Monday, April 14th. Piper Sandler reduced their target price on shares of C3.ai from $42.00 to $28.00 and set a “neutral” rating on the stock in a research note on Thursday, February 27th. Morgan Stanley reduced their target price on shares of C3.ai from $30.00 to $20.00 and set an “underweight” rating on the stock in a research note on Wednesday, April 16th. Finally, Needham & Company LLC reissued a “hold” rating on shares of C3.ai in a research note on Thursday, February 27th. Five investment analysts have rated the stock with a sell rating, five have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price 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.