Executive Chairman Thomas M. Siebel of C3.ai (NASDAQ: AI) disposed of 491,467 shares of the company's Class A Common Stock in two separate transactions executed on April 13 and April 14, 2026, producing total proceeds of $4,113,840. The shares sold carried prices between $7.92 and $8.74 per share - levels close to the stock's 52-week low of $7.67 - while the shares are trading at $9.52 at the time of reporting and the stock has declined 52% over the last 12 months.
The dispositions were tied to the exercise of stock options. Siebel exercised options to acquire an identical count of 491,467 Class A shares at an exercise price of $2.04 per share, representing a combined acquisition cost of $1,002,592.
After completing these option exercises and sales, Siebel's direct ownership of C3.ai Class A Common Stock stands at 722,362 shares. He also maintains indirect holdings through several entities, including The Siebel Living Trust, First Virtual Holdings, LLC, Siebel Asset Management, L.P., Siebel Asset Management III, L.P., and The Siebel 2011 Irrevocable Children’s Trust.
Product development update
Separately, C3.ai announced the launch of C3 Code, a platform intended to streamline the building of enterprise AI applications using natural language descriptions. The company says C3 Code supports business analysts, developers, and data scientists by automating parts of the development process including design, configuration, testing, and deployment.
Financial performance and analyst reactions
C3.ai's recent financial disclosure showed a third-quarter fiscal 2026 earnings result that materially missed consensus expectations. The miss prompted DA Davidson to lower its price target on the stock from $13 to $7 and to maintain an Underperform rating.
Wolfe Research also reduced its price target to $6, citing weak sales execution and the lack of non-recurring subscription revenue in the quarter. Analysts specifically pointed to the absence of revenue from demonstration licenses - which had contributed $22 million in the prior quarter - as a factor behind a $23 million shortfall to guidance.
Canaccord likewise trimmed its price target, moving it from $16 to $7, flagging a revenue decline despite noting booking growth in federal, defense, and aerospace segments. For the fourth quarter, C3.ai issued a revenue outlook in a range between $48 million and $52 million, compared with an analyst estimate of $77.47 million.
Valuation and research notes
According to an InvestingPro analysis cited by the company, the stock is trading slightly above its Fair Value. The same analysis mentions that 10 additional ProTips are available to subscribers. No other valuation changes or analyst projections are included beyond the price-target revisions and the Q4 revenue guidance provided by C3.ai.
What to watch
Investors and market participants will likely monitor near-term revenue delivery against the narrowed guidance range, the impact of the new C3 Code platform on product adoption and sales cycles, and any further insider activity or changes to ownership stakes. The recent analyst actions and the company’s lowered guidance frame a cautious backdrop for the stock as it trades near recent lows.