Insider Selling: C3.ai, Inc. (NYSE:AI) CEO Sells 13,567 Shares of Stock

C3.ai, Inc. (NYSE:AI) CEO Thomas M. Siebel sold 13,567 shares of the firm’s stock in a transaction on Wednesday, April 16th. The stock was sold at an average price of $19.47, for a total value of $264,149.49. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

C3.ai Stock Down 3.0 %

NYSE:AI opened at $19.37 on Thursday. The firm has a market cap of $2.57 billion, a PE ratio of -8.76 and a beta of 2.01. C3.ai, Inc. has a 12 month low of $17.03 and a 12 month high of $45.08. The company’s 50-day moving average price is $23.77 and its two-hundred day moving average price is $28.95.

C3.ai (NYSE:AI) last announced its 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 business had revenue of $98.78 million during the quarter, compared to analyst estimates of $98.12 million. On average, research analysts expect that C3.ai, Inc. will post -2.44 EPS for the current fiscal year.

Institutional Trading of C3.ai

A number of hedge funds and other institutional investors have recently made changes to their positions in AI. Brown Lisle Cummings Inc. increased its position in 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 acquiring an additional 400 shares in the last quarter. R Squared Ltd bought a new position in C3.ai in the 4th quarter worth approximately $29,000. Russell Investments Group Ltd. lifted its holdings in C3.ai by 100.7% during the 4th 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. WealthTrak Capital Management LLC bought a new position in C3.ai in the fourth quarter valued at about $33,000. Finally, CENTRAL TRUST Co bought a new position in shares of C3.ai in the 4th quarter valued at about $34,000. 38.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Piper Sandler lowered their price objective on shares of C3.ai from $42.00 to $28.00 and set a “neutral” rating on the stock in a research report on Thursday, February 27th. Canaccord Genuity Group reduced their target price on C3.ai from $40.00 to $30.00 and set a “hold” rating for the company in a report on Thursday, February 27th. Morgan Stanley decreased their price target on shares of C3.ai from $30.00 to $20.00 and set an “underweight” rating for the company in a report on Wednesday. Needham & Company LLC reissued a “hold” rating on shares of C3.ai in a research report on Thursday, February 27th. Finally, DA Davidson reduced their target price on shares of C3.ai from $25.00 to $18.00 and set a “neutral” rating for the company in a research note on Monday. Five research analysts have rated the stock with a sell rating, five have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, C3.ai has an average rating of “Hold” and a consensus target price of $29.92.

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.