Arkadios Wealth Advisors Sells 1,508 Shares of C3.ai, Inc. (NYSE:AI)

Arkadios Wealth Advisors reduced its position in C3.ai, Inc. (NYSE:AI) by 6.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,685 shares of the company’s stock after selling 1,508 shares during the quarter. Arkadios Wealth Advisors’ holdings in C3.ai were worth $525,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the company. JTC Employer Solutions Trustee Ltd bought a new stake in C3.ai during the 3rd quarter valued at approximately $25,000. Unique Wealth Strategies LLC bought a new stake in shares of C3.ai during the second quarter valued at approximately $28,000. Blue Trust Inc. lifted its holdings in shares of C3.ai by 148.9% in the second quarter. Blue Trust Inc. now owns 1,028 shares of the company’s stock worth $28,000 after buying an additional 615 shares in the last quarter. Hobbs Group Advisors LLC bought a new position in shares of C3.ai during the second quarter worth $29,000. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in C3.ai by 311.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,050 shares of the company’s stock valued at $30,000 after acquiring an additional 795 shares during the last quarter. 38.96% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

AI has been the subject of a number of research analyst reports. Needham & Company LLC restated a “hold” rating on shares of C3.ai in a research report on Thursday, September 5th. DA Davidson reduced their price objective on C3.ai from $30.00 to $20.00 and set a “neutral” rating on the stock in a research note on Thursday, September 5th. JMP Securities reissued a “market outperform” rating and issued a $40.00 target price on shares of C3.ai in a report on Thursday, September 5th. Piper Sandler decreased their price target on shares of C3.ai from $29.00 to $24.00 and set a “neutral” rating on the stock in a research note on Thursday, September 5th. Finally, Wedbush dropped their price objective on shares of C3.ai from $40.00 to $30.00 and set an “outperform” rating for the company in a research note on Thursday, September 5th. Three analysts have rated the stock with a sell rating, five have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $27.70.

C3.ai Trading Up 0.2 %

Shares of C3.ai stock opened at $26.39 on Wednesday. C3.ai, Inc. has a 12 month low of $18.85 and a 12 month high of $38.30. The stock’s fifty day moving average price is $24.08 and its 200-day moving average price is $25.58. The firm has a market cap of $3.29 billion, a P/E ratio of -11.28 and a beta of 1.81.

C3.ai (NYSE:AI) last posted its quarterly earnings results on Wednesday, September 4th. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.13) by $0.08. C3.ai had a negative net margin of 85.47% and a negative return on equity of 31.28%. The business had revenue of $87.21 million during the quarter, compared to analyst estimates of $86.94 million. During the same quarter in the previous year, the business posted ($0.56) EPS. The company’s quarterly revenue was up 20.5% compared to the same quarter last year. Analysts forecast that C3.ai, Inc. will post -2.32 earnings per share for the current year.

About C3.ai

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.