Thomas M. Siebel Sells 409,831 Shares of C3.ai, Inc. (NYSE:AI) Stock

C3.ai, Inc. (NYSE:AI) CEO Thomas M. Siebel sold 409,831 shares of the company’s stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $30.97, for a total transaction of $12,692,466.07. Following the sale, the chief executive officer now directly owns 1,756,390 shares of the company’s stock, valued at $54,395,398.30. This represents a 18.92 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

C3.ai Stock Performance

Shares of NYSE:AI opened at $31.98 on Friday. C3.ai, Inc. has a 52 week low of $18.85 and a 52 week high of $45.08. The firm has a market cap of $4.13 billion, a PE ratio of -14.47 and a beta of 2.00. The firm’s fifty day moving average is $35.09 and its 200-day moving average is $28.78.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. JTC Employer Solutions Trustee Ltd acquired a new stake in shares of C3.ai in the third quarter valued at about $25,000. Northwestern Mutual Wealth Management Co. increased its position in C3.ai by 311.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,050 shares of the company’s stock valued at $30,000 after purchasing an additional 795 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in C3.ai during the 2nd quarter valued at approximately $41,000. Quest Partners LLC raised its holdings in C3.ai by 9,033.3% during the 3rd quarter. Quest Partners LLC now owns 1,644 shares of the company’s stock worth $40,000 after purchasing an additional 1,626 shares during the last quarter. Finally, Arcadia Investment Management Corp MI acquired a new position in shares of C3.ai in the 3rd quarter worth approximately $48,000. 38.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AI has been the subject of a number of recent analyst reports. StockNews.com raised shares of C3.ai to a “sell” rating in a report on Tuesday, November 26th. Needham & Company LLC reiterated a “hold” rating on shares of C3.ai in a research note on Tuesday, December 10th. KeyCorp downgraded C3.ai from a “sector weight” rating to an “underweight” rating and set a $29.00 price objective for the company. in a research report on Thursday, December 19th. JPMorgan Chase & Co. cut C3.ai from a “neutral” rating to an “underweight” rating and set a $28.00 target price on the stock. in a research report on Wednesday, December 11th. Finally, Morgan Stanley increased their target price on shares of C3.ai from $21.00 to $32.00 and gave the stock an “underweight” rating in a report on Tuesday, December 10th. 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.com, C3.ai has an average rating of “Hold” and a consensus price target of $35.00.

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.