Insider Selling: 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 the business’s stock in a transaction on Tuesday, January 14th. The stock was sold at an average price of $30.97, for a total transaction of $12,692,466.07. Following the completion of the sale, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

C3.ai Stock Performance

Shares of AI stock opened at $31.98 on Friday. The company has a market capitalization of $4.13 billion, a price-to-earnings ratio of -14.47 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. The company has a 50-day simple moving average of $35.09 and a 200 day simple moving average of $28.79.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Needham & Company LLC restated a “hold” rating on shares of C3.ai in a research note on Tuesday, December 10th. Morgan Stanley increased their price target on C3.ai from $21.00 to $32.00 and gave the company an “underweight” rating in a research report on Tuesday, December 10th. Northland Securities boosted their price target on C3.ai from $35.00 to $45.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 10th. DA Davidson raised C3.ai to a “hold” rating in a report on Wednesday, December 18th. Finally, Piper Sandler boosted their target price on shares of C3.ai from $24.00 to $42.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Five research analysts have rated the stock with a sell rating, five have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $35.00.

Institutional Investors Weigh In On C3.ai

A number of institutional investors have recently made changes to their positions in the company. JTC Employer Solutions Trustee Ltd acquired a new position in shares of C3.ai in the third quarter valued at about $25,000. Northwestern Mutual Wealth Management Co. grew its position in shares of C3.ai by 311.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,050 shares of the company’s stock worth $30,000 after purchasing an additional 795 shares in the last quarter. Quest Partners LLC grew its position in shares of C3.ai by 9,033.3% during the 3rd quarter. Quest Partners LLC now owns 1,644 shares of the company’s stock worth $40,000 after purchasing an additional 1,626 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of C3.ai during the second quarter worth approximately $41,000. Finally, Arcadia Investment Management Corp MI acquired a new stake in shares of C3.ai in the third quarter valued at approximately $48,000. Institutional investors 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.