C3.ai, Inc. (NYSE:AI) CEO Thomas M. Siebel Sells 552,422 Shares

C3.ai, Inc. (NYSE:AI) CEO Thomas M. Siebel sold 552,422 shares of C3.ai stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $33.04, for a total transaction of $18,252,022.88. Following the sale, the chief executive officer now directly owns 1,336,968 shares in the company, valued at $44,173,422.72. This trade represents a 29.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

C3.ai Stock Performance

C3.ai stock opened at $31.60 on Friday. The stock has a market capitalization of $4.08 billion, a price-to-earnings ratio of -14.30 and a beta of 1.98. C3.ai, Inc. has a 52-week low of $18.85 and a 52-week high of $45.08. The stock’s 50 day moving average price is $34.92 and its two-hundred day moving average price is $29.30.

Wall Street Analyst Weigh In

A number of analysts have weighed in on AI shares. Northland Securities boosted their target price on shares of C3.ai from $35.00 to $45.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 10th. JMP Securities boosted their price objective on C3.ai from $40.00 to $55.00 and gave the stock a “market outperform” rating in a research report on Tuesday, December 10th. Piper Sandler increased their target price on C3.ai from $24.00 to $42.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. Canaccord Genuity Group boosted their price target on C3.ai from $23.00 to $40.00 and gave the stock a “hold” rating in a report on Wednesday, December 11th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of C3.ai in a report on Tuesday, December 10th. Five analysts have rated the stock with a sell rating, five have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $35.00.

Institutional Investors Weigh In On C3.ai

Large investors have recently bought and sold shares of the stock. Brown Lisle Cummings Inc. boosted its holdings in C3.ai by 100.0% in the fourth quarter. Brown Lisle Cummings Inc. now owns 800 shares of the company’s stock valued at $28,000 after acquiring an additional 400 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in shares of C3.ai by 100.7% during 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. Victory Capital Management Inc. boosted its stake in shares of C3.ai by 3.4% during the 3rd quarter. Victory Capital Management Inc. now owns 14,078 shares of the company’s stock valued at $341,000 after purchasing an additional 457 shares in the last quarter. Legal & General Group Plc increased its position in shares of C3.ai by 0.4% during the fourth quarter. Legal & General Group Plc now owns 119,144 shares of the company’s stock valued at $4,102,000 after buying an additional 517 shares during the period. Finally, Geneos Wealth Management Inc. lifted its holdings in C3.ai by 72.4% in the fourth quarter. Geneos Wealth Management Inc. now owns 1,322 shares of the company’s stock worth $46,000 after buying an additional 555 shares during the period. 38.96% of the stock is currently owned by institutional investors and hedge funds.

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.