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

C3.ai, Inc. (NYSE:AI) was the recipient of unusually large options trading activity on Friday. Stock investors purchased 170,377 call options on the company. This represents an increase of approximately 75% compared to the typical daily volume of 97,088 call options.

Insider Activity

In other C3.ai news, EVP Robert David Schilling sold 470,420 shares of the stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $17.29, for a total transaction of $8,133,561.80. Following the completion of the sale, the executive vice president directly owned 1,011,327 shares in the company, valued at approximately $17,485,843.83. This trade represents a 31.75% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Hitesh Lath sold 46,881 shares of C3.ai stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $16.99, for a total value of $796,508.19. Following the completion of the transaction, the chief financial officer directly owned 209,154 shares of the company’s stock, valued at approximately $3,553,526.46. This trade represents a 18.31% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 2,226,479 shares of company stock valued at $38,129,955. 26.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On C3.ai

Hedge funds and other institutional investors have recently bought and sold shares of the business. Silicon Valley Capital Partners acquired a new position in C3.ai in the 2nd quarter worth approximately $25,000. Larson Financial Group LLC increased its stake in shares of C3.ai by 683.6% in the third quarter. Larson Financial Group LLC now owns 1,481 shares of the company’s stock worth $26,000 after purchasing an additional 1,292 shares during the period. Parallel Advisors LLC lifted its holdings in shares of C3.ai by 76.4% during the third quarter. Parallel Advisors LLC now owns 1,849 shares of the company’s stock worth $32,000 after buying an additional 801 shares during the last quarter. Financial Consulate Inc. bought a new position in shares of C3.ai during the 3rd quarter worth about $36,000. Finally, Clearstead Advisors LLC grew its holdings in shares of C3.ai by 58.0% during the 3rd quarter. Clearstead Advisors LLC now owns 2,350 shares of the company’s stock worth $41,000 after purchasing an additional 863 shares in the last quarter. 38.96% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on AI shares. Morgan Stanley dropped their price target on C3.ai from $22.00 to $11.00 and set an “underweight” rating on the stock in a research note on Tuesday, September 9th. Weiss Ratings restated a “sell (d-)” rating on shares of C3.ai in a report on Wednesday, October 8th. JMP Securities cut their target price on C3.ai from $30.00 to $24.00 and set a “market outperform” rating on the stock in a report on Thursday, September 4th. KeyCorp decreased their price target on shares of C3.ai from $18.00 to $10.00 and set an “underweight” rating for the company in a research note on Thursday, September 4th. Finally, UBS Group upped their price objective on shares of C3.ai from $16.00 to $17.00 and gave the stock a “neutral” rating in a report on Friday, September 12th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, seven have issued a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Reduce” and an average price target of $21.92.

C3.ai Price Performance

AI opened at $15.29 on Friday. The stock has a market cap of $2.11 billion, a P/E ratio of -5.40 and a beta of 1.97. C3.ai has a 1-year low of $12.59 and a 1-year high of $44.34. The stock’s 50 day simple moving average is $16.22 and its 200 day simple moving average is $19.86.

C3.ai (NYSE:AI) last announced its quarterly earnings data on Wednesday, December 3rd. The company reported ($0.25) earnings per share for the quarter, topping the consensus estimate of ($0.33) by $0.08. C3.ai had a negative net margin of 108.06% and a negative return on equity of 46.51%. The business had revenue of $75.15 million for the quarter, compared to analyst estimates of $74.86 million. During the same period in the prior year, the firm posted ($0.06) EPS. The company’s revenue was down 20.3% on a year-over-year basis. Research analysts expect that C3.ai will post -2.44 EPS for the current fiscal 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.