Thomas M. Siebel Sells 601,498 Shares of C3.ai, Inc. (NYSE:AI) Stock

C3.ai, Inc. (NYSE:AI - Get Free Report) CEO Thomas M. Siebel sold 601,498 shares of C3.ai stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $25.02, for a total transaction of $15,049,479.96. Following the transaction, the chief executive officer now directly owns 3,816,802 shares in the company, valued at approximately $95,496,386.04. This trade represents a 13.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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 stock was sold at an average price of $19.47, for a total value of $264,149.49.

C3.ai Trading Down 2.4%

NYSE AI traded down $0.59 on Friday, hitting $23.77. 3,383,627 shares of the stock traded hands, compared to its average volume of 5,180,719. The stock has a 50-day moving average of $22.63 and a 200 day moving average of $27.92. C3.ai, Inc. has a twelve month low of $17.03 and a twelve month high of $45.08. The company has a market capitalization of $3.16 billion, a P/E ratio of -10.76 and a beta of 2.04.

C3.ai (NYSE:AI - Get Free Report) last announced its quarterly earnings data on Wednesday, May 28th. The company reported ($0.16) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.20) by $0.04. C3.ai had a negative return on equity of 31.31% and a negative net margin of 79.17%. The firm had revenue of $108.72 million for the quarter, compared to analysts' expectations of $107.85 million. During the same period last year, the business posted ($0.11) earnings per share. The firm's revenue for the quarter was up 25.5% on a year-over-year basis. As a group, equities research analysts expect that C3.ai, Inc. will post -2.44 earnings per share for the current year.

Analyst Upgrades and Downgrades

AI has been the topic of several analyst reports. JPMorgan Chase & Co. dropped their target price on C3.ai from $27.00 to $23.00 and set an "underweight" rating on the stock in a report on Thursday, May 29th. Piper Sandler dropped their price objective on shares of C3.ai from $28.00 to $27.00 and set a "neutral" rating on the stock in a research note on Thursday, May 29th. DA Davidson decreased 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, April 14th. Canaccord Genuity Group dropped their price target on shares of C3.ai from $30.00 to $28.00 and set a "hold" rating on the stock in a research note on Thursday, May 29th. Finally, UBS Group restated a "neutral" rating and set a $28.00 target price (up from $26.00) on shares of C3.ai in a research note on Thursday, May 29th. Five analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, C3.ai presently has a consensus rating of "Hold" and an average price target of $29.46.

Institutional Investors Weigh In On C3.ai

Several institutional investors and hedge funds have recently bought and sold shares of AI. Vanguard Group Inc. grew its holdings in shares of C3.ai by 3.6% during the first quarter. Vanguard Group Inc. now owns 13,407,490 shares of the company's stock valued at $282,228,000 after purchasing an additional 471,521 shares during the last quarter. Geode Capital Management LLC boosted its position in C3.ai by 14.1% during the 4th quarter. Geode Capital Management LLC now owns 2,529,991 shares of the company's stock valued at $87,128,000 after purchasing an additional 313,066 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in C3.ai by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,157,303 shares of the company's stock worth $45,414,000 after buying an additional 91,923 shares during the last quarter. Two Sigma Investments LP acquired a new stake in C3.ai in the fourth quarter worth $42,306,000. Finally, Man Group plc acquired a new position in shares of C3.ai during the fourth quarter valued at $38,455,000. Institutional investors and hedge funds own 38.96% of the company's stock.

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.