Thomas M. Siebel Sells 294,116 Shares of C3.ai, Inc. (NYSE:AI) Stock

by · The Cerbat Gem

C3.ai, Inc. (NYSE:AI – Get Free Report) CEO Thomas M. Siebel sold 294,116 shares of the stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $21.50, for a total transaction of $6,323,494.00. Following the completion of the sale, the chief executive officer now owns 943,151 shares of the company’s stock, valued at approximately $20,277,746.50. The trade was a 23.77 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

C3.ai Price Performance

Shares of NYSE:AI traded up $0.22 during mid-day trading on Tuesday, reaching $22.16. 3,716,753 shares of the company were exchanged, compared to its average volume of 5,251,488. The firm has a market cap of $2.94 billion, a price-to-earnings ratio of -10.03 and a beta of 2.03. The firm’s 50-day simple moving average is $29.05 and its 200 day simple moving average is $29.39. C3.ai, Inc. has a 1 year low of $18.85 and a 1 year high of $45.08.

C3.ai (NYSE:AI – Get Free Report) last issued 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 net margin of 79.17% and a negative return on equity of 31.31%. The business had revenue of $98.78 million during the quarter, compared to analysts’ expectations of $98.12 million. On average, research analysts forecast that C3.ai, Inc. will post -2.44 earnings per share for the current fiscal year.

Hedge Funds Weigh In On C3.ai

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Brown Lisle Cummings Inc. raised its holdings in shares of C3.ai by 100.0% in the 4th quarter. Brown Lisle Cummings Inc. now owns 800 shares of the company’s stock valued at $28,000 after purchasing an additional 400 shares in the last quarter. R Squared Ltd acquired a new stake in shares of C3.ai in the 4th quarter valued at $29,000. Russell Investments Group Ltd. raised its holdings in shares of C3.ai by 100.7% in the 4th quarter. Russell Investments Group Ltd. now owns 909 shares of the company’s stock valued at $31,000 after purchasing an additional 456 shares in the last quarter. WealthTrak Capital Management LLC acquired a new stake in shares of C3.ai in the 4th quarter valued at $33,000. Finally, CENTRAL TRUST Co acquired a new stake in shares of C3.ai in the 4th quarter valued at $34,000. Hedge funds and other institutional investors own 38.96% of the company’s stock.

Wall Street Analyst Weigh In

AI has been the subject of a number of recent research reports. Canaccord Genuity Group cut their price objective on shares of 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 dropped their price target on shares of C3.ai from $42.00 to $28.00 and set a “neutral” rating for the company in a research note on Thursday, February 27th. Morgan Stanley dropped 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. StockNews.com raised shares of C3.ai to a “sell” rating in a research note on Tuesday, November 26th. Finally, Northland Securities increased their price target on shares of C3.ai from $35.00 to $45.00 and gave the company an “outperform” rating in a research note on Tuesday, December 10th. Five investment analysts have rated the stock with a sell rating, five have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, C3.ai currently has an average rating of “Hold” and a consensus target price of $31.33.

Check Out Our Latest Stock Analysis on AI

C3.ai Company Profile

(Get Free Report)

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.

Read More