C3.ai, Inc. (NYSE:AI) CEO Sells $15,049,479.96 in Stock

C3.ai, Inc. (NYSE:AI) CEO Thomas M. Siebel sold 601,498 shares of the stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $25.02, for a total value of $15,049,479.96. Following the sale, the chief executive officer now owns 3,816,802 shares in the company, valued at $95,496,386.04. The trade was a 13.61% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible 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

NYSE AI opened at $23.76 on Friday. The firm has a market cap of $3.15 billion, a P/E ratio of -10.75 and a beta of 2.04. The stock’s 50-day moving average is $22.75 and its 200-day moving average is $27.84. C3.ai, Inc. has a one year low of $17.03 and a one year high of $45.08.

C3.ai (NYSE:AI) last released its quarterly earnings results on Wednesday, May 28th. The company reported ($0.16) EPS for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.04. The company had revenue of $108.72 million for the quarter, compared to analyst estimates of $107.85 million. C3.ai had a negative return on equity of 31.31% and a negative net margin of 79.17%. C3.ai’s revenue was up 25.5% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.11) earnings per share. Equities analysts anticipate that C3.ai, Inc. will post -2.44 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on AI shares. Wall Street Zen lowered C3.ai from a “hold” rating to a “sell” rating in a research note on Friday, June 6th. KeyCorp reaffirmed a “mixed” rating on shares of C3.ai in a research note on Thursday, May 29th. Morgan Stanley upped their price target on C3.ai from $20.00 to $22.00 and gave the company an “underweight” rating in a research note on Thursday, May 29th. UBS Group reaffirmed a “neutral” rating and set a $28.00 price target (up previously from $26.00) on shares of C3.ai in a research note on Thursday, May 29th. Finally, JPMorgan Chase & Co. cut their price target on C3.ai from $27.00 to $23.00 and set an “underweight” rating on the stock 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. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $29.46.

Institutional Investors Weigh In On C3.ai

A number of hedge funds have recently modified their holdings of the business. Garde Capital Inc. bought a new position in shares of C3.ai during the first quarter worth about $29,000. Russell Investments Group Ltd. grew its holdings in shares of C3.ai by 100.7% during the fourth 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 shares of C3.ai during the fourth quarter worth about $33,000. Orion Capital Management LLC bought a new position in shares of C3.ai during the fourth quarter worth about $34,000. Finally, CX Institutional bought a new position in shares of C3.ai during the first quarter worth about $34,000. 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.