C3.ai, Inc. (NYSE:AI) CEO Sells $18,252,022.88 in Stock

C3.ai, Inc. (NYSE:AI) CEO Thomas M. Siebel sold 552,422 shares of the firm’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $33.04, for a total transaction of $18,252,022.88. Following the transaction, the chief executive officer now directly owns 1,336,968 shares of the company’s stock, valued at $44,173,422.72. The trade was a 29.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

C3.ai Stock Up 1.2 %

NYSE AI opened at $32.89 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 capitalization of $4.24 billion, a price-to-earnings ratio of -14.88 and a beta of 1.98. The company has a fifty day moving average of $35.01 and a two-hundred day moving average of $29.28.

Analyst Ratings Changes

Several research analysts have commented on AI shares. Piper Sandler increased their price objective on shares of C3.ai from $24.00 to $42.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Northland Securities increased their price target on C3.ai from $35.00 to $45.00 and gave the company an “outperform” rating 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 on the stock. in a research note on Thursday, December 19th. StockNews.com upgraded C3.ai to a “sell” rating in a research report on Tuesday, November 26th. Finally, DA Davidson raised shares of C3.ai to a “hold” rating in a report on Wednesday, December 18th. Five equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $35.00.

Hedge Funds Weigh In On C3.ai

Large investors have recently made changes to their positions in the company. JTC Employer Solutions Trustee Ltd purchased a new position in C3.ai during the 3rd quarter valued at $25,000. Brown Lisle Cummings Inc. increased its stake in C3.ai by 100.0% in the fourth quarter. Brown Lisle Cummings Inc. now owns 800 shares of the company’s stock worth $28,000 after purchasing an additional 400 shares during the period. R Squared Ltd bought a new stake in shares of C3.ai during the fourth quarter worth $29,000. Russell Investments Group Ltd. boosted its stake in shares of C3.ai by 100.7% during the fourth quarter. Russell Investments Group Ltd. now owns 909 shares of the company’s stock valued at $31,000 after purchasing an additional 456 shares during the period. Finally, WealthTrak Capital Management LLC bought a new position in shares of C3.ai in the fourth quarter worth about $33,000. 38.96% of the stock is 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.