Investors Buy Large Volume of C3.ai Call Options (NYSE:AI)

C3.ai, Inc. (NYSE:AI) was the recipient of some unusual options trading on Thursday. Stock investors bought 119,687 call options on the stock. This represents an increase of approximately 57% compared to the average daily volume of 76,415 call options.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on AI. KeyCorp cut their price objective on C3.ai from $29.00 to $21.00 and set an “underweight” rating on the stock in a report on Thursday. Piper Sandler cut their price target on shares of C3.ai from $42.00 to $28.00 and set a “neutral” rating on the stock in a report on Thursday. Needham & Company LLC restated a “hold” rating on shares of C3.ai in a research note on Thursday. Canaccord Genuity Group cut their price objective on shares of C3.ai from $40.00 to $30.00 and set a “hold” rating on the stock in a research note on Thursday. Finally, Northland Securities boosted their target price on shares of C3.ai from $35.00 to $45.00 and gave the company an “outperform” rating in a research report on Tuesday, December 10th. Five equities research analysts have rated the stock with a sell rating, five have given a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $31.33.

Insider Activity

In other news, 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 in the company, valued at approximately $22,952,790. The trade was a 18.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Hitesh Lath sold 3,949 shares of the company’s 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 transaction, the chief financial officer now directly owns 851 shares in the company, valued at approximately $36,048.36. The trade was a 82.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,643,311 shares of company stock worth $59,736,620. Insiders own 33.54% of the company’s stock.

Institutional Trading of C3.ai

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Creative Planning increased its position in shares of C3.ai by 7.0% during the third quarter. Creative Planning now owns 56,573 shares of the company’s stock worth $1,371,000 after purchasing an additional 3,712 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of C3.ai by 21.5% during the third quarter. Allspring Global Investments Holdings LLC now owns 4,745 shares of the company’s stock worth $115,000 after buying an additional 839 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in shares of C3.ai in the third quarter valued at about $10,560,000. Pathway Financial Advisers LLC lifted its stake in shares of C3.ai by 2,501.2% in the third quarter. Pathway Financial Advisers LLC now owns 8,844 shares of the company’s stock worth $214,000 after buying an additional 8,504 shares in the last quarter. Finally, Focus Financial Network Inc. boosted its position in C3.ai by 34.5% during the third quarter. Focus Financial Network Inc. now owns 45,293 shares of the company’s stock worth $1,097,000 after acquiring an additional 11,617 shares during the last quarter. Hedge funds and other institutional investors own 38.96% of the company’s stock.

C3.ai Stock Down 1.8 %

Shares of C3.ai stock opened at $23.44 on Friday. The firm has a market cap of $3.03 billion, a PE ratio of -10.61 and a beta of 1.98. The business has a 50-day moving average price of $32.39 and a 200 day moving average price of $29.54. C3.ai has a twelve month low of $18.85 and a twelve month high of $45.08.

C3.ai (NYSE:AI) last announced its earnings results on Wednesday, February 26th. The company reported ($0.62) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($0.37). C3.ai had a negative return on equity of 31.31% and a negative net margin of 79.17%. The business had revenue of $98.78 million for the quarter, compared to analyst estimates of $98.12 million. On average, sell-side analysts expect that C3.ai will post -2.44 EPS for the current year.

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.