Insider Selling: C3.ai, Inc. (NYSE:AI) CEO Sells 216,974 Shares of Stock

C3.ai, Inc. (NYSE:AI) CEO Thomas M. Siebel sold 216,974 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $21.88, for a total value of $4,747,391.12. Following the sale, the chief executive officer now directly owns 726,177 shares of the company’s stock, valued at approximately $15,888,752.76. The trade was a 23.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

C3.ai Stock Up 1.0 %

Shares of NYSE AI traded up $0.22 during trading hours on Tuesday, hitting $22.16. The company had a trading volume of 3,716,753 shares, compared to its average volume of 5,251,488. The stock has a market capitalization of $2.94 billion, a P/E ratio of -10.03 and a beta of 2.03. C3.ai, Inc. has a 1-year low of $18.85 and a 1-year high of $45.08. The firm’s 50 day moving average is $29.05 and its 200-day moving average is $29.39.

C3.ai (NYSE:AI) last announced its quarterly earnings results on Wednesday, February 26th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing the consensus estimate 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 analyst estimates of $98.12 million. On average, sell-side analysts predict that C3.ai, Inc. will post -2.44 earnings per share for the current year.

Institutional Investors Weigh In On C3.ai

Hedge funds have recently added to or reduced their stakes in the business. Brown Lisle Cummings Inc. lifted its holdings in shares of C3.ai by 100.0% during the fourth quarter. Brown Lisle Cummings Inc. now owns 800 shares of the company’s stock worth $28,000 after buying an additional 400 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings 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 worth $31,000 after buying an additional 456 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of C3.ai by 3.4% during the third quarter. Victory Capital Management Inc. now owns 14,078 shares of the company’s stock worth $341,000 after buying an additional 457 shares in the last quarter. Legal & General Group Plc lifted its holdings in shares of C3.ai by 0.4% during the fourth quarter. Legal & General Group Plc now owns 119,144 shares of the company’s stock worth $4,102,000 after buying an additional 517 shares in the last quarter. Finally, Geneos Wealth Management Inc. lifted its holdings in shares of C3.ai by 72.4% during the fourth quarter. Geneos Wealth Management Inc. now owns 1,322 shares of the company’s stock worth $46,000 after buying an additional 555 shares in the last quarter. Institutional investors and hedge funds own 38.96% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on AI shares. Canaccord Genuity Group lowered their target price on C3.ai from $40.00 to $30.00 and set a “hold” rating for the company in a research note on Thursday, February 27th. Morgan Stanley decreased their price target on shares of C3.ai from $32.00 to $30.00 and set an “underweight” rating for the company in a research note on Thursday, February 27th. Needham & Company LLC reaffirmed a “hold” rating on shares of C3.ai in a research note on Thursday, February 27th. KeyCorp decreased their price target on shares of C3.ai from $29.00 to $21.00 and set an “underweight” rating for the company in a research note on Thursday, February 27th. Finally, JMP Securities raised their price target on shares of C3.ai from $40.00 to $55.00 and gave the stock a “market outperform” rating in a research note on Tuesday, December 10th. Five investment analysts have rated the stock with a sell rating, five have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, C3.ai currently has an average rating of “Hold” and an average price target of $31.33.

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.