44,170 C3.ai, Inc. $AI Shares Sold by Philadelphia Trust Co.

Philadelphia Trust Co. decreased its holdings in shares of C3.ai, Inc. (NYSE:AI) by 41.6% during the third quarter, HoldingsChannel reports. The institutional investor owned 62,120 shares of the company’s stock after selling 44,170 shares during the period. Philadelphia Trust Co.’s holdings in C3.ai were worth $683,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Fulcrum Asset Management LLP grew its stake in C3.ai by 148,714.9% in the 3rd quarter. Fulcrum Asset Management LLP now owns 220,246 shares of the company’s stock valued at $2,277,000 after acquiring an additional 220,098 shares during the period. Kestra Advisory Services LLC acquired a new stake in shares of C3.ai in the third quarter valued at approximately $121,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of C3.ai in the third quarter valued at approximately $85,000. Pinnacle Wealth Planning Services Inc. lifted its position in 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 buying an additional 9,569 shares in the last quarter. Finally, Apollon Wealth Management LLC purchased a new position in C3.ai during the third quarter worth approximately $114,000. Institutional investors and hedge funds own 38.96% of the company’s stock.

C3.ai Price Performance

Shares of NYSE AI opened at $11.84 on Wednesday. The company has a market capitalization of $1.90 billion, a P/E ratio of -3.84 and a beta of 2.17. The company has a 50 day simple moving average of $11.27 and a 200-day simple moving average of $10.03. C3.ai, Inc. has a 1 year low of $7.68 and a 1 year high of $16.40.

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

Analyst Upgrades and Downgrades

A number of research firms have weighed in on AI. Citizens Jmp reissued a “market perform” rating on shares of C3.ai in a research note on Tuesday, September 29th. Weiss Ratings reiterated a “sell (d-)” rating on shares of C3.ai in a report on Monday, November 2nd. DA Davidson reiterated an “underperform” rating and set a $7.00 price target on shares of C3.ai in a report on Tuesday, September 1st. Canaccord Genuity Group reissued a “hold” rating and set a $10.00 price target on shares of C3.ai in a research report on Thursday, September 3rd. Finally, Wall Street Zen raised shares of C3.ai from a “sell” rating to a “hold” rating in a report on Sunday, October 11th. Two equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and seven have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average target price of $9.62.

Insider Buying and Selling at C3.ai

In other C3.ai news, CFO Hitesh Lath sold 20,000 shares of C3.ai stock in a transaction on Monday, October 12th. The stock was sold at an average price of $12.37, for a total value of $247,400.00. Following the sale, the chief financial officer owned 305,250 shares in the company, valued at $3,775,942.50. The trade was a 6.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Thomas Siebel sold 435,363 shares of the company’s stock in a transaction on Tuesday, October 13th. The shares were sold at an average price of $11.82, for a total value of $5,145,990.66. Following the completion of the transaction, the chief executive officer directly owned 722,362 shares in the company, valued at approximately $8,538,318.84. This trade represents a 37.61% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 960,358 shares of company stock valued at $10,812,696. 19.80% of the stock is owned by insiders.

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.