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

C3.ai, Inc. (NYSE:AI) was the target of unusually large options trading on Friday. Stock investors purchased 77,063 call options on the company. This represents an increase of 105% compared to the typical daily volume of 37,663 call options.

C3.ai Trading Down 1.0%

Shares of NYSE AI opened at $8.82 on Friday. C3.ai has a one year low of $7.68 and a one year high of $30.11. The business has a 50-day moving average price of $9.67 and a two-hundred day moving average price of $10.13. The firm has a market capitalization of $1.37 billion, a PE ratio of -2.64 and a beta of 2.06.

C3.ai (NYSE:AI) last issued its earnings results on Wednesday, June 3rd. The company reported ($0.33) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.38) by $0.05. The company had revenue of $51.60 million for the quarter, compared to the consensus estimate of $51.60 million. C3.ai had a negative return on equity of 62.44% and a negative net margin of 187.95%.The firm’s quarterly revenue was down 52.5% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.16) EPS. Research analysts anticipate that C3.ai will post -2.28 EPS for the current year.

Analyst Ratings Changes

Several research analysts have commented on the stock. Wedbush reiterated an “outperform” rating and issued a $15.00 target price on shares of C3.ai in a report on Thursday, June 4th. DA Davidson restated an “underperform” rating and set a $7.00 price target on shares of C3.ai in a report on Thursday, June 4th. UBS Group upped their price target on shares of C3.ai from $9.00 to $12.00 and gave the company a “neutral” rating in a research report on Thursday, June 4th. Morgan Stanley raised their price objective on shares of C3.ai from $6.00 to $7.00 and gave the stock an “underweight” rating in a research note on Thursday, June 4th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of C3.ai in a research report on Thursday, June 4th. One investment analyst has rated the stock with a Buy rating, six have given a Hold rating and six have issued a Sell rating to the stock. According to data from MarketBeat.com, C3.ai currently has an average rating of “Reduce” and an average price target of $10.67.

Insider Transactions at C3.ai

In related news, CFO Hitesh Lath sold 48,619 shares of the stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $8.77, for a total value of $426,388.63. Following the completion of the transaction, the chief financial officer owned 383,106 shares in the company, valued at $3,359,839.62. This trade represents a 11.26% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Thomas M. Siebel sold 472,005 shares of C3.ai stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $11.11, for a total value of $5,243,975.55. Following the completion of the transaction, the chief executive officer directly owned 722,362 shares in the company, valued at $8,025,441.82. This represents a 39.52% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 1,155,144 shares of company stock valued at $11,420,651 over the last three months. Company insiders own 26.50% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in AI. Handelsbanken Fonder AB lifted its position in C3.ai by 31.3% in the 2nd quarter. Handelsbanken Fonder AB now owns 41,500 shares of the company’s stock worth $377,000 after buying an additional 9,900 shares in the last quarter. Shearwater Capital LLC grew its holdings in shares of C3.ai by 5.3% during the 2nd quarter. Shearwater Capital LLC now owns 70,826 shares of the company’s stock valued at $644,000 after acquiring an additional 3,550 shares in the last quarter. 180 Wealth Advisors LLC grew its holdings in shares of C3.ai by 14.6% during the 2nd quarter. 180 Wealth Advisors LLC now owns 89,538 shares of the company’s stock valued at $814,000 after acquiring an additional 11,388 shares in the last quarter. CoreCap Advisors LLC increased its stake in shares of C3.ai by 34.0% in the second quarter. CoreCap Advisors LLC now owns 6,145 shares of the company’s stock worth $56,000 after acquiring an additional 1,560 shares during the last quarter. Finally, Versant Capital Management Inc increased its stake in shares of C3.ai by 1,510.1% in the second quarter. Versant Capital Management Inc now owns 6,859 shares of the company’s stock worth $62,000 after acquiring an additional 6,433 shares during the last quarter. Institutional investors and hedge funds own 38.96% of the company’s stock.

C3.ai Company Profile

C3.ai, Inc is a leading enterprise software provider focused on delivering scalable artificial intelligence (AI) and Internet of Things (IoT) solutions to large organizations. The company’s core offering, the C3 AI Suite, is a comprehensive, model-driven platform that unifies data ingestion, model development, and application deployment. Through its suite of tools, C3.ai enables customers to accelerate digital transformation initiatives by applying advanced machine learning, predictive analytics, and AI-driven insights across a broad range of business functions.

The C3 AI Suite provides a low-code environment for data scientists and application developers to rapidly design, test, and deploy enterprise-scale AI applications.