C3.ai, Inc. $AI Stock: Fulcrum Asset Management LLP Raises Stake

Fulcrum Asset Management LLP boosted its stake in C3.ai, Inc. (NYSE:AI) by 148,714.9% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 220,246 shares of the company’s stock after purchasing an additional 220,098 shares during the period. Fulcrum Asset Management LLP’s holdings in C3.ai were worth $2,277,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. Kestra Advisory Services LLC bought a new stake in C3.ai in the third quarter valued at $121,000. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of C3.ai during the third quarter worth about $85,000. Pinnacle Wealth Planning Services Inc. grew its position in shares of C3.ai by 134.2% during the third quarter. Pinnacle Wealth Planning Services Inc. now owns 16,701 shares of the company’s stock worth $184,000 after acquiring an additional 9,569 shares during the last quarter. Apollon Wealth Management LLC bought a new position in shares of C3.ai during the third quarter worth about $114,000. Finally, Forum Financial Management LP increased its holdings in shares of C3.ai by 35.8% in the 3rd quarter. Forum Financial Management LP now owns 15,659 shares of the company’s stock worth $172,000 after acquiring an additional 4,128 shares during the period. 38.96% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at C3.ai

In other C3.ai news, CFO Hitesh Lath sold 21,077 shares of the firm’s stock in a transaction dated Wednesday, September 16th. The shares were sold at an average price of $10.48, for a total transaction of $220,886.96. Following the transaction, the chief financial officer owned 371,036 shares of the company’s stock, valued at approximately $3,888,457.28. This trade represents a 5.38% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Thomas Siebel sold 435,363 shares of the firm’s stock in a transaction dated Tuesday, October 13th. The shares were sold at an average price of $11.82, for a total transaction of $5,145,990.66. Following the transaction, the chief executive officer directly owned 722,362 shares in the company, valued at approximately $8,538,318.84. The trade was a 37.61% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 960,358 shares of company stock valued at $10,812,696 in the last quarter. 19.80% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

AI has been the topic of several recent research reports. Northland Securities upgraded shares of C3.ai from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $10.00 to $16.00 in a research report on Monday, October 12th. Weiss Ratings restated a “sell (d-)” rating on shares of C3.ai in a research report on Monday, November 2nd. Citizens Jmp restated a “market perform” rating on shares of C3.ai in a research note on Tuesday, September 29th. Yorkville Ives initiated coverage on shares of C3.ai in a research note on Tuesday, October 6th. They issued an “in-line” rating and a $12.50 price target on the stock. Finally, Citigroup reaffirmed a “market perform” rating on shares of C3.ai in a report on Thursday, September 3rd. Two investment analysts have rated the stock with a Buy rating, five have given a Hold rating and seven have issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Reduce” and a consensus target price of $9.62.

C3.ai Price Performance

NYSE:AI opened at $11.84 on Wednesday. C3.ai, Inc. has a 1 year low of $7.68 and a 1 year high of $16.40. The business has a fifty day moving average of $11.27 and a 200-day moving average of $10.03.

C3.ai (NYSE:AI) last issued its quarterly earnings data on Wednesday, September 2nd. The company reported ($0.20) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.06. C3.ai had a negative net margin of 192.10% and a negative return on equity of 61.25%. The business had revenue of $52.38 million for the quarter, compared to analysts’ expectations of $52.06 million. During the same period in the previous year, the business earned ($0.37) earnings per share. The company’s revenue was down 25.4% on a year-over-year basis. Analysts forecast that C3.ai, Inc. will post -2.20 earnings per share for the current year.

About C3.ai

C3.ai, Inc. is an enterprise software company that develops artificial intelligence applications and tools for businesses and government organizations. Its offerings are designed to help customers use data to address operational and analytical needs across industries including energy, manufacturing, financial services, healthcare and defense. The company’s products include the C3 AI Platform, which provides tools for developing, deploying and operating AI applications using enterprise data, as well as ready-made applications for use cases such as predictive maintenance, supply chain management and fraud detection.