Insider Selling: C3.ai, Inc. (NYSE:AI) CEO Sells 216,974 Shares of Stock

C3.ai, Inc. (NYSE:AI) CEO Thomas M. Siebel sold 216,974 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $21.88, for a total transaction of $4,747,391.12. Following the completion of the sale, the chief executive officer now owns 726,177 shares of the company’s stock, valued at approximately $15,888,752.76. This trade represents a 23.01 % 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.

C3.ai Price Performance

NYSE:AI opened at $22.38 on Friday. The company’s 50-day moving average is $28.62 and its two-hundred day moving average is $29.29. C3.ai, Inc. has a 1-year low of $18.85 and a 1-year high of $45.08. The firm has a market capitalization of $2.97 billion, a price-to-earnings ratio of -10.13 and a beta of 2.03.

C3.ai (NYSE:AI) last issued its quarterly earnings data on Wednesday, February 26th. The company reported ($0.62) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.37). The company had revenue of $98.78 million during the quarter, compared to analyst estimates 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, equities analysts anticipate that C3.ai, Inc. will post -2.44 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Piper Sandler lowered their target price on shares of C3.ai from $42.00 to $28.00 and set a “neutral” rating for the company in a research note on Thursday, February 27th. KeyCorp lowered their target price on shares of C3.ai from $29.00 to $21.00 and set an “underweight” rating for the company in a research note on Thursday, February 27th. StockNews.com upgraded shares of C3.ai to a “sell” rating in a research note on Tuesday, November 26th. DA Davidson lowered their price objective on shares of C3.ai from $40.00 to $25.00 and set a “neutral” rating for the company in a research note on Thursday, February 27th. Finally, JMP Securities lifted their price objective on shares of C3.ai from $40.00 to $55.00 and gave the stock a “market outperform” rating in a research note on Tuesday, December 10th. Five analysts have rated the stock with a sell rating, five have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $31.33.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Janney Montgomery Scott LLC purchased a new stake in shares of C3.ai in the third quarter valued at about $785,000. State of New Jersey Common Pension Fund D boosted its holdings in C3.ai by 4.8% during the third quarter. State of New Jersey Common Pension Fund D now owns 81,461 shares of the company’s stock worth $1,974,000 after buying an additional 3,708 shares in the last quarter. Victory Capital Management Inc. raised its position in C3.ai by 3.4% during the third quarter. Victory Capital Management Inc. now owns 14,078 shares of the company’s stock worth $341,000 after acquiring an additional 457 shares during the last quarter. KBC Group NV raised its position in C3.ai by 37.0% during the third quarter. KBC Group NV now owns 3,593 shares of the company’s stock worth $87,000 after acquiring an additional 971 shares during the last quarter. Finally, Quest Partners LLC raised its position in C3.ai by 9,033.3% during the third quarter. Quest Partners LLC now owns 1,644 shares of the company’s stock worth $40,000 after acquiring an additional 1,626 shares during the last quarter. 38.96% of the stock is owned by hedge funds and other institutional investors.

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.