C3.ai, Inc. (NYSE:AI) CEO Sells $12,692,466.07 in Stock

C3.ai, Inc. (NYSE:AI) CEO Thomas M. Siebel sold 409,831 shares of C3.ai stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $30.97, for a total value of $12,692,466.07. Following the sale, the chief executive officer now directly owns 1,756,390 shares of the company’s stock, valued at approximately $54,395,398.30. This represents a 18.92 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

C3.ai Price Performance

C3.ai stock traded up $0.59 during trading on Thursday, reaching $32.32. 3,078,584 shares of the company were exchanged, compared to its average volume of 4,579,419. The stock’s 50 day simple moving average is $35.00 and its two-hundred day simple moving average is $28.76. The company has a market capitalization of $4.17 billion, a P/E ratio of -14.62 and a beta of 2.00. C3.ai, Inc. has a 52-week low of $18.85 and a 52-week high of $45.08.

Institutional Investors Weigh In On C3.ai

Several hedge funds and other institutional investors have recently bought and sold shares of AI. Geode Capital Management LLC raised its position in C3.ai by 8.8% in the third quarter. Geode Capital Management LLC now owns 2,216,925 shares of the company’s stock valued at $53,728,000 after purchasing an additional 178,870 shares during the period. State Street Corp increased its position in shares of C3.ai by 1.8% during the 3rd quarter. State Street Corp now owns 2,121,391 shares of the company’s stock worth $51,401,000 after purchasing an additional 38,185 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in C3.ai by 12.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 844,389 shares of the company’s stock valued at $20,460,000 after buying an additional 92,280 shares during the period. Susquehanna Fundamental Investments LLC acquired a new position in C3.ai in the second quarter valued at about $3,465,000. Finally, Hsbc Holdings PLC boosted its stake in C3.ai by 679.8% during the second quarter. Hsbc Holdings PLC now owns 87,092 shares of the company’s stock worth $2,500,000 after buying an additional 75,923 shares during the period. 38.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on AI shares. Piper Sandler increased their price objective on shares of C3.ai from $24.00 to $42.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. StockNews.com raised C3.ai to a “sell” rating in a report on Tuesday, November 26th. Morgan Stanley upped their price objective on C3.ai from $21.00 to $32.00 and gave the stock an “underweight” rating in a research report on Tuesday, December 10th. JMP Securities raised their price target on shares of C3.ai from $40.00 to $55.00 and gave the company a “market outperform” rating in a research report on Tuesday, December 10th. Finally, DA Davidson upgraded shares of C3.ai to a “hold” rating in a research report on Wednesday, December 18th. Five analysts have rated the stock with a sell rating, five have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, C3.ai currently has an average rating of “Hold” and a consensus price target of $35.00.

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.