C3.ai, Inc. (NYSE:AI) CEO Sells $6,323,494.00 in Stock

C3.ai, Inc. (NYSE:AI) CEO Thomas M. Siebel sold 294,116 shares of the stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $21.50, for a total value of $6,323,494.00. Following the transaction, the chief executive officer now directly owns 943,151 shares of the company’s stock, valued at $20,277,746.50. The trade was a 23.77 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

C3.ai Stock Up 1.0 %

AI stock opened at $22.16 on Wednesday. C3.ai, Inc. has a 52-week low of $18.85 and a 52-week high of $45.08. The business has a fifty day moving average of $29.05 and a two-hundred day moving average of $29.39. The stock has a market cap of $2.94 billion, a price-to-earnings ratio of -10.03 and a beta of 2.03.

C3.ai (NYSE:AI) last released its quarterly earnings results on Wednesday, February 26th. The company reported ($0.62) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.37). C3.ai had a negative return on equity of 31.31% and a negative net margin of 79.17%. The firm had revenue of $98.78 million for the quarter, compared to analysts’ expectations of $98.12 million. As a group, sell-side analysts anticipate that C3.ai, Inc. will post -2.44 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have commented on AI. DA Davidson reduced their target price on C3.ai from $40.00 to $25.00 and set a “neutral” rating for the company in a report on Thursday, February 27th. Canaccord Genuity Group cut their price target on C3.ai from $40.00 to $30.00 and set a “hold” rating for the company in a report on Thursday, February 27th. Piper Sandler cut their price target on C3.ai from $42.00 to $28.00 and set a “neutral” rating for the company in a report on Thursday, February 27th. Morgan Stanley cut their price target on C3.ai from $32.00 to $30.00 and set an “underweight” rating for the company in a report on Thursday, February 27th. Finally, KeyCorp cut their price target on C3.ai from $29.00 to $21.00 and set an “underweight” rating for the company in a report on Thursday, February 27th. Five investment 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 presently has an average rating of “Hold” and an average price target of $31.33.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of AI. Brown Lisle Cummings Inc. boosted its holdings in C3.ai by 100.0% in 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 period. R Squared Ltd purchased a new position in C3.ai in the fourth quarter valued at $29,000. Russell Investments Group Ltd. boosted its holdings in C3.ai by 100.7% in 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. WealthTrak Capital Management LLC purchased a new position in C3.ai in the fourth quarter valued at $33,000. Finally, CENTRAL TRUST Co purchased a new position in C3.ai in the fourth quarter valued at $34,000. 38.96% of the stock is currently 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.