Thomas M. Siebel Sells 356,418 Shares of C3.ai, Inc. (NYSE:AI) Stock

C3.ai, Inc. (NYSE:AI - Get Free Report) CEO Thomas M. Siebel sold 356,418 shares of C3.ai stock in a transaction on Monday, April 14th. The shares were sold at an average price of $20.19, for a total transaction of $7,196,079.42. Following the completion of the transaction, the chief executive officer now directly owns 241,768 shares of the company's stock, valued at $4,881,295.92. The trade was a 59.58 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Thomas M. Siebel also recently made the following trade(s):

• On Wednesday, April 16th, Thomas M. Siebel sold 13,567 shares of C3.ai stock. The shares were sold at an average price of $19.47, for a total value of $264,149.49.

C3.ai Price Performance

Shares of AI stock traded down $0.37 on Monday, hitting $18.98. The stock had a trading volume of 521,558 shares, compared to its average volume of 5,189,354. The firm has a market capitalization of $2.52 billion, a P/E ratio of -8.59 and a beta of 2.01. The company's 50 day moving average price is $23.20 and its 200-day moving average price is $28.98. C3.ai, Inc. has a 1 year low of $17.03 and a 1 year high of $45.08.

C3.ai (NYSE:AI - Get Free Report) last announced its earnings results on Wednesday, February 26th. The company reported ($0.62) earnings per share for the quarter, missing the consensus estimate 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%. On average, equities analysts forecast that C3.ai, Inc. will post -2.44 EPS for the current year.

Institutional Trading of C3.ai

Large investors have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its position in shares of C3.ai by 10.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 933,139 shares of the company's stock valued at $32,128,000 after purchasing an additional 88,750 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of C3.ai during the 4th quarter worth about $3,996,000. Vanguard Group Inc. increased its holdings in shares of C3.ai by 3.6% in the 4th quarter. Vanguard Group Inc. now owns 12,935,969 shares of the company's stock valued at $445,385,000 after acquiring an additional 446,529 shares during the last quarter. Janney Montgomery Scott LLC lifted its stake in C3.ai by 70.9% during the fourth quarter. Janney Montgomery Scott LLC now owns 55,339 shares of the company's stock worth $1,905,000 after purchasing an additional 22,949 shares during the last quarter. Finally, Strategic Financial Concepts LLC acquired a new position in C3.ai in the fourth quarter valued at approximately $2,015,000. 38.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AI has been the subject of several research analyst reports. Piper Sandler reduced 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 report on Thursday, February 27th. Canaccord Genuity Group lowered their target price on C3.ai from $40.00 to $30.00 and set a "hold" rating on the stock in a report on Thursday, February 27th. KeyCorp lowered their price objective on C3.ai from $21.00 to $17.00 and set an "underweight" rating on the stock in a research note on Thursday. Morgan Stanley reduced their price target on C3.ai from $30.00 to $20.00 and set an "underweight" rating on the stock in a report on Wednesday, April 16th. Finally, DA Davidson dropped their price objective on shares of C3.ai from $25.00 to $18.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Five analysts have rated the stock with a sell rating, five have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $29.58.

About C3.ai

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.