C3.ai, Inc. (NYSE:AI) CEO Thomas M. Siebel Sells 216,974 Shares

C3.ai, Inc. (NYSE:AI) CEO Thomas M. Siebel sold 216,974 shares of the stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $21.88, for a total transaction of $4,747,391.12. Following the sale, the chief executive officer now directly owns 726,177 shares in the company, valued at $15,888,752.76. This represents a 23.01 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

C3.ai Stock Up 2.4 %

NYSE:AI opened at $22.66 on Thursday. The company has a market capitalization of $3.01 billion, a PE ratio of -10.25 and a beta of 2.03. C3.ai, Inc. has a 52-week low of $18.85 and a 52-week high of $45.08. The stock’s 50 day moving average price is $28.84 and its 200 day moving average price is $29.34.

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

Institutional Investors Weigh In On C3.ai

Hedge funds have recently made changes to their positions in the business. California State Teachers Retirement System increased its position in C3.ai by 2.4% in the 4th quarter. California State Teachers Retirement System now owns 103,932 shares of the company’s stock valued at $3,578,000 after acquiring an additional 2,442 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake in shares of C3.ai by 44.0% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 16,180 shares of the company’s stock valued at $557,000 after purchasing an additional 4,941 shares during the last quarter. Probity Advisors Inc. grew its stake in shares of C3.ai by 10.0% in the 4th quarter. Probity Advisors Inc. now owns 16,706 shares of the company’s stock valued at $575,000 after purchasing an additional 1,514 shares during the last quarter. Total Wealth Planning & Management Inc. acquired a new position in shares of C3.ai in the fourth quarter valued at approximately $339,000. Finally, Mackenzie Financial Corp purchased a new stake in shares of C3.ai during the fourth quarter worth approximately $229,000. Institutional investors and hedge funds own 38.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on AI. KeyCorp reduced their target price on shares of C3.ai from $29.00 to $21.00 and set an “underweight” rating on the stock in a report on Thursday, February 27th. DA Davidson decreased 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. Needham & Company LLC reissued a “hold” rating on shares of C3.ai in a research note on Thursday, February 27th. 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 report on Tuesday, December 10th. Finally, StockNews.com raised C3.ai to a “sell” rating in a research report on Tuesday, November 26th. 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 company. According to MarketBeat, C3.ai has a consensus rating of “Hold” and a consensus 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.