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

C3.ai, Inc. (NYSE:AI) was the target of some unusual options trading activity on Friday. Stock traders acquired 158,384 call options on the company. This is an increase of 92% compared to the average daily volume of 82,329 call options.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Canaccord Genuity Group reduced their target price on C3.ai from $40.00 to $30.00 and set a “hold” rating on the stock in a report on Thursday, February 27th. KeyCorp reduced their price objective on C3.ai from $29.00 to $21.00 and set an “underweight” rating on the stock in a research note on Thursday, February 27th. JPMorgan Chase & Co. lowered shares of C3.ai from a “neutral” rating to an “underweight” rating and set a $28.00 target price for the company. in a research note on Wednesday, December 11th. Northland Securities raised their price target on shares of C3.ai from $35.00 to $45.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 10th. Finally, Piper Sandler lowered their price objective on shares of C3.ai from $42.00 to $28.00 and set a “neutral” rating for the company in a research report on Thursday, February 27th. Five analysts have rated the stock with a sell rating, five have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $31.33.

C3.ai Trading Up 1.2 %

Shares of NYSE:AI opened at $22.65 on Friday. The firm’s 50 day moving average is $28.42 and its two-hundred day moving average is $29.33. The firm has a market capitalization of $3.01 billion, a P/E ratio of -10.25 and a beta of 2.03. C3.ai has a 52 week low of $18.85 and a 52 week high of $45.08.

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

Insider Activity at C3.ai

In other C3.ai news, CEO Thomas M. Siebel sold 409,831 shares of the firm’s stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $30.97, for a total transaction of $12,692,466.07. Following the completion of the sale, the chief executive officer now owns 1,756,390 shares in the company, valued at $54,395,398.30. This trade represents a 18.92 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Merel Witteveen sold 11,132 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $34.95, for a total value of $389,063.40. Following the completion of the transaction, the vice president now directly owns 4,142 shares in the company, valued at approximately $144,762.90. The trade was a 72.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 1,510,546 shares of company stock valued at $43,235,262. Corporate insiders own 33.54% of the company’s stock.

Institutional Investors Weigh In On C3.ai

Several institutional investors have recently bought and sold shares of AI. Brown Lisle Cummings Inc. lifted its stake in shares of C3.ai by 100.0% in the 4th quarter. Brown Lisle Cummings Inc. now owns 800 shares of the company’s stock worth $28,000 after acquiring an additional 400 shares during the period. R Squared Ltd bought a new stake in C3.ai during the fourth quarter worth approximately $29,000. Russell Investments Group Ltd. lifted its position in C3.ai by 100.7% in the fourth quarter. Russell Investments Group Ltd. now owns 909 shares of the company’s stock worth $31,000 after purchasing an additional 456 shares during the period. WealthTrak Capital Management LLC bought a new position in C3.ai during the 4th quarter valued at $33,000. Finally, CENTRAL TRUST Co acquired a new position in shares of C3.ai during the 4th quarter valued at $34,000. Institutional investors and hedge funds own 38.96% of the company’s stock.

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.