Thomas M. Siebel, executive chairman of C3.ai (NASDAQ: AI), executed a sale of 23,435 shares of Class A common stock on March 12, 2026, according to regulatory filings. The transactions totaled approximately $213,492, with execution prices ranging from $9.055 to $9.16 and a reported average sale price of $9.11 per share.
The Form 4 filing also shows that on March 11, 2026, Siebel acquired 44,766 shares of Class A common stock as a result of Restricted Stock Units vesting. The sale therefore followed closely on the heels of that automatic grant vesting.
Market context for the trades underscores the stock's weakness. At the time of reporting the stock was trading near $8.91, remaining close to its 52-week low of $7.72 and down roughly 59% over the prior 12 months. The timing of insider transactions amid a prolonged share-price decline is notable to investors monitoring both insider activity and company fundamentals.
Separately, C3.ai has been confronting material operational and financial challenges. The company reported third-quarter fiscal 2026 results that missed consensus expectations by a wide margin. That performance led DA Davidson to cut its price target to $7 while keeping an Underperform rating.
Wolfe Research flagged a roughly 30% revenue shortfall versus targets, citing weak sales execution and the absence of non-recurring subscription revenue as primary factors behind the miss. Canaccord, while lowering its price target to $7, recorded a bright spot in bookings within federal, defense and aerospace verticals, which grew 134% year-over-year, but nonetheless pointed to concern over an overall revenue decline.
C3.ai's guidance for its fiscal fourth-quarter revenue was provided in a range of $48 million to $52 million. That outlook sits well below the analyst estimate of $77.47 million and prompted a one-day share-price decline of 22.7%. In response to the earnings and guidance misses, KeyBanc reduced its price target to $6, highlighting significant third-quarter revenue misses and execution issues that affected fourth-quarter guidance.
Analysts noted some recent contract activity, including agreements with the USDA and ExxonMobil, but commentary from research firms suggests that those bookings have not yet meaningfully altered the firm's near-term revenue trajectory. Overall, the combination of large revenue misses, lowered guidance and successive analyst price-target reductions has left the stock under pressure and raised questions among investors about near-term execution.
What the filings show
- Siebel sold 23,435 shares on March 12, 2026, at prices between $9.055 and $9.16, aggregating to about $213,492.
- On March 11, 2026, Siebel received 44,766 shares from the vesting of Restricted Stock Units.
- The stock trades near $8.91, close to a 52-week low of $7.72, and is down 59% over the past year.
The filings and analyst notes together paint a picture of a company wrestling with execution and revenue trends while insiders carry out routine post-vesting transactions. Investors concerned with enterprise software, AI platform vendors and related technology-sector credit and equity risk may monitor further filings and quarterly performance updates for signs of stabilization or further deterioration.