Thomas M. Siebel Sells 589,468 Shares of C3.ai, Inc. (NYSE:AI) Stock

C3.ai, Inc. (NYSE:AI) CEO Thomas M. Siebel sold 589,468 shares of the stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $28.58, for a total transaction of $16,846,995.44. Following the transaction, the chief executive officer owned 3,227,334 shares in the company, valued at approximately $92,237,205.72. This represents a 15.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

C3.ai Stock Up 2.4%

Shares of AI stock opened at $29.18 on Thursday. The stock has a market capitalization of $3.92 billion, a PE ratio of -13.03 and a beta of 1.99. C3.ai, Inc. has a 52 week low of $17.03 and a 52 week high of $45.08. The firm has a 50 day moving average of $25.23 and a two-hundred day moving average of $25.58.

C3.ai (NYSE:AI) last issued its earnings results on Wednesday, May 28th. The company reported ($0.16) earnings per share for the quarter, topping the consensus estimate of ($0.20) by $0.04. C3.ai had a negative return on equity of 33.51% and a negative net margin of 74.21%. The business had revenue of $108.72 million for the quarter, compared to analyst estimates of $107.85 million. During the same quarter last year, the company earned ($0.11) EPS. The business’s quarterly revenue was up 25.5% on a year-over-year basis. Analysts expect that C3.ai, Inc. will post -2.44 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Russell Investments Group Ltd. increased 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 purchasing an additional 456 shares in the last quarter. WealthTrak Capital Management LLC acquired a new stake in shares of C3.ai in the 4th quarter worth approximately $33,000. Orion Capital Management LLC acquired a new position in C3.ai during the fourth quarter worth $34,000. Raiffeisen Bank International AG purchased a new stake in C3.ai during the fourth quarter worth $36,000. Finally, Harvest Fund Management Co. Ltd acquired a new stake in C3.ai in the fourth quarter valued at $36,000. Institutional investors and hedge funds own 38.96% of the company’s stock.

Wall Street Analyst Weigh In

AI has been the subject of a number of recent analyst reports. Westpark Capital upgraded shares of C3.ai to a “strong-buy” rating and set a $40.00 target price for the company in a research note on Wednesday, July 9th. UBS Group decreased their target price on C3.ai from $28.00 to $27.00 and set a “neutral” rating for the company in a report on Thursday, June 26th. Needham & Company LLC reaffirmed a “hold” rating on shares of C3.ai in a report on Thursday, May 29th. Canaccord Genuity Group decreased their price objective on shares of C3.ai from $30.00 to $28.00 and set a “hold” rating on the stock in a report on Thursday, May 29th. Finally, JPMorgan Chase & Co. decreased their price target on shares of C3.ai from $27.00 to $23.00 and set an “underweight” rating on the stock in a research note on Thursday, May 29th. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $30.14.

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.