C3.ai Sees Unusually High Options Volume (NYSE:AI)

C3.ai, Inc. (NYSE:AI) saw unusually large options trading activity on Wednesday. Investors bought 122,512 call options on the stock. This is an increase of approximately 77% compared to the typical volume of 69,321 call options.

C3.ai Price Performance

Shares of AI opened at $33.34 on Thursday. The firm has a market cap of $4.30 billion, a P/E ratio of -15.09 and a beta of 2.00. The stock has a 50 day simple moving average of $34.29 and a two-hundred day simple moving average of $28.60. C3.ai has a 1 year low of $18.85 and a 1 year high of $45.08.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on AI shares. Northland Securities lifted their price objective on shares of C3.ai from $35.00 to $45.00 and gave the stock an “outperform” rating in a report on Tuesday, December 10th. DA Davidson upgraded C3.ai to a “hold” rating in a research note on Wednesday, December 18th. JPMorgan Chase & Co. cut C3.ai from a “neutral” rating to an “underweight” rating and set a $28.00 target price on the stock. in a research note on Wednesday, December 11th. Needham & Company LLC reiterated a “hold” rating on shares of C3.ai in a research note on Tuesday, December 10th. Finally, Morgan Stanley lifted their target price on C3.ai from $21.00 to $32.00 and gave the stock an “underweight” rating in a research note on Tuesday, December 10th. Five analysts have rated the stock with a sell rating, five have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, C3.ai presently has an average rating of “Hold” and a consensus price target of $35.00.

Insider Transactions at C3.ai

In related news, CFO Hitesh Lath sold 3,949 shares of C3.ai stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $42.36, for a total value of $167,279.64. Following the completion of the sale, the chief financial officer now owns 851 shares of the company’s stock, valued at approximately $36,048.36. This trade represents a 82.27 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Stephen M. Ward, Jr. sold 125,000 shares of C3.ai stock in a transaction on Monday, December 9th. The shares were sold at an average price of $42.00, for a total transaction of $5,250,000.00. Following the completion of the sale, the director now directly owns 546,495 shares of the company’s stock, valued at approximately $22,952,790. The trade was a 18.62 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 668,721 shares of company stock valued at $28,425,151 in the last quarter. 33.54% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On C3.ai

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. JTC Employer Solutions Trustee Ltd bought a new stake in C3.ai in the 3rd quarter worth about $25,000. Northwestern Mutual Wealth Management Co. boosted its holdings in C3.ai by 311.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,050 shares of the company’s stock worth $30,000 after purchasing an additional 795 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in C3.ai in the 2nd quarter worth approximately $41,000. Quest Partners LLC raised its stake in C3.ai by 9,033.3% during the 3rd quarter. Quest Partners LLC now owns 1,644 shares of the company’s stock valued at $40,000 after buying an additional 1,626 shares during the last quarter. Finally, Arcadia Investment Management Corp MI purchased a new position in shares of C3.ai in the 3rd quarter worth $48,000. Institutional investors own 38.96% of the company’s stock.

C3.ai Company Profile

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.