Insider Selling: C3.ai, Inc. (NYSE:AI) CEO Sells 409,831 Shares of Stock

C3.ai, Inc. (NYSE:AI) CEO Thomas M. Siebel sold 409,831 shares of the firm’s stock in a transaction dated Tuesday, January 14th. The shares were sold at an average price of $30.97, for a total transaction of $12,692,466.07. Following the completion of the transaction, the chief executive officer now directly owns 1,756,390 shares in the company, valued at approximately $54,395,398.30. This represents a 18.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

C3.ai Trading Down 1.0 %

Shares of AI stock opened at $31.98 on Friday. C3.ai, Inc. has a 1-year low of $18.85 and a 1-year high of $45.08. The stock has a market cap of $4.13 billion, a price-to-earnings ratio of -14.47 and a beta of 2.00. The stock has a 50-day moving average of $35.09 and a 200-day moving average of $28.79.

Analysts Set New Price Targets

A number of research analysts recently issued reports on AI shares. StockNews.com raised shares of C3.ai to a “sell” rating in a research note on Tuesday, November 26th. Needham & Company LLC reaffirmed a “hold” rating on shares of C3.ai in a research note on Tuesday, December 10th. JMP Securities boosted their target price on C3.ai from $40.00 to $55.00 and gave the stock a “market outperform” rating in a research note on Tuesday, December 10th. Canaccord Genuity Group raised their price target on shares of C3.ai from $23.00 to $40.00 and gave the company a “hold” rating in a research note on Wednesday, December 11th. Finally, JPMorgan Chase & Co. downgraded shares of C3.ai from a “neutral” rating to an “underweight” rating and set a $28.00 price target for the company. in a report on Wednesday, December 11th. Five analysts have rated the stock with a sell rating, five have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $35.00.

Institutional Trading of C3.ai

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its holdings in C3.ai by 8.8% during the 3rd quarter. Geode Capital Management LLC now owns 2,216,925 shares of the company’s stock worth $53,728,000 after acquiring an additional 178,870 shares during the period. State Street Corp increased its holdings in C3.ai by 1.8% in the third 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 in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in C3.ai by 12.3% in the third 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 bought a new position in shares of C3.ai during the 2nd quarter worth approximately $3,465,000. Finally, Hsbc Holdings PLC grew its position in shares of C3.ai by 679.8% during the 2nd 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. 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.