C3.ai, Inc. (NYSE:AI) CEO Sells $9,693,436.84 in Stock

Key Points

• C3.ai CEO Thomas M. Siebel sold 577,678 shares of stock for approximately $9.7 million, reducing his ownership by 16.27% to about 2.97 million shares.
• The company's stock recently fell 3.2% to $18.01, with a notable trading volume of over 12 million shares, contrasting significantly with its average of about 6 million.
• Analysts have lowered price targets for C3.ai, with the average rating now categorized as "Hold", and a target price of approximately $27.43.

C3.ai, Inc. (NYSE:AI - Get Free Report) CEO Thomas M. Siebel sold 577,678 shares of the firm's stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $16.78, for a total transaction of $9,693,436.84. Following the sale, the chief executive officer directly owned 2,973,572 shares of the company's stock, valued at approximately $49,896,538.16. The trade was a 16.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

C3.ai Trading Down 3.2%

AI stock traded down $0.59 during trading on Thursday, hitting $18.01. The company had a trading volume of 12,342,693 shares, compared to its average volume of 6,043,656. The company has a fifty day moving average price of $24.77 and a two-hundred day moving average price of $24.51. C3.ai, Inc. has a fifty-two week low of $14.70 and a fifty-two week high of $45.08. The company has a market cap of $2.42 billion, a P/E ratio of -8.04 and a beta of 1.98.

C3.ai (NYSE:AI - Get Free Report) last announced its earnings results on Wednesday, May 28th. The company reported ($0.16) EPS for the quarter, topping the consensus estimate of ($0.20) by $0.04. The business had revenue of $108.72 million for the quarter, compared to the consensus estimate of $107.85 million. C3.ai had a negative return on equity of 33.51% and a negative net margin of 74.21%. C3.ai's revenue was up 25.5% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.11) EPS. On average, analysts expect that C3.ai, Inc. will post -2.44 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Needham & Company LLC restated a "hold" rating on shares of C3.ai in a research note on Monday. JPMorgan Chase & Co. lowered their price target on C3.ai from $27.00 to $23.00 and set an "underweight" rating for the company in a report on Thursday, May 29th. Northland Capmk lowered C3.ai from a "strong-buy" rating to a "hold" rating in a research report on Monday. Piper Sandler decreased their price objective on shares of C3.ai from $28.00 to $27.00 and set a "neutral" rating for the company in a report on Thursday, May 29th. Finally, Wall Street Zen upgraded shares of C3.ai from a "sell" rating to a "hold" rating in a research note on Saturday, July 12th. Five research analysts have rated the stock with a sell rating, nine have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $27.43.

Institutional Trading of C3.ai

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. grew 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 acquiring an additional 456 shares in the last quarter. Orion Capital Management LLC acquired a new stake in C3.ai during the fourth quarter worth about $34,000. Raiffeisen Bank International AG acquired a new position in shares of C3.ai during the 4th quarter worth $36,000. Garde Capital Inc. bought a new stake in shares of C3.ai during the 1st quarter valued at approximately $29,000. Finally, CX Institutional bought a new stake in shares of C3.ai during the first quarter worth about $34,000. 38.96% of the stock is currently owned by institutional investors and hedge funds.

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.

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