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

C3.ai, Inc. (NYSE:AI) saw some unusual options trading activity on Thursday. Traders acquired 119,687 call options on the company. This represents an increase of 57% compared to the typical daily volume of 76,415 call options.

Analyst Ratings Changes

AI has been the subject of several recent analyst reports. KeyCorp reduced their target price on shares of C3.ai from $29.00 to $21.00 and set an “underweight” rating for the company in a research note on Thursday. Morgan Stanley cut their price target on shares of C3.ai from $32.00 to $30.00 and set an “underweight” rating on the stock in a report on Thursday. JMP Securities boosted their price target on shares of C3.ai from $40.00 to $55.00 and gave the stock a “market outperform” rating in a report on Tuesday, December 10th. DA Davidson raised shares of C3.ai to a “hold” rating in a report on Wednesday, December 18th. Finally, Canaccord Genuity Group boosted their price target on shares of C3.ai from $23.00 to $40.00 and gave the stock a “hold” rating in a report on Wednesday, December 11th. Five equities research 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’s stock. According to data from MarketBeat.com, C3.ai presently has an average rating of “Hold” and a consensus target price of $33.00.

C3.ai Stock Down 5.8 %

Shares of AI stock traded down $1.52 during trading on Thursday, hitting $24.92. The company had a trading volume of 9,114,631 shares, compared to its average volume of 4,991,065. The stock’s 50-day moving average is $32.88 and its two-hundred day moving average is $29.59. The stock has a market capitalization of $3.22 billion, a price-to-earnings ratio of -11.23 and a beta of 1.98. 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 quarterly earnings data 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). The company had revenue of $98.78 million during the quarter, compared to the consensus estimate of $98.12 million. C3.ai had a negative return on equity of 31.31% and a negative net margin of 79.17%. On average, research analysts predict that C3.ai will post -2.44 EPS for the current fiscal year.

Insider Activity

In other C3.ai news, Director Jim H. Snabe sold 499,700 shares of the business’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $43.05, for a total transaction of $21,512,085.00. Following the completion of the sale, the director now owns 10,000 shares in the company, valued at approximately $430,500. The trade was a 98.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Thomas M. Siebel sold 409,831 shares of the business’s stock in a transaction on Tuesday, January 14th. The shares were sold at an average price of $30.97, for a total transaction of $12,692,466.07. Following the sale, the chief executive officer now owns 1,756,390 shares of the company’s stock, valued at $54,395,398.30. This trade represents a 18.92 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,643,311 shares of company stock worth $59,736,620. Corporate insiders own 33.54% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. grew its position in C3.ai by 12.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 844,389 shares of the company’s stock valued at $20,460,000 after acquiring an additional 92,280 shares during the last quarter. PDT Partners LLC bought a new position in C3.ai during the third quarter valued at approximately $1,624,000. Janney Montgomery Scott LLC grew its position in C3.ai by 70.9% during the fourth quarter. Janney Montgomery Scott LLC now owns 55,339 shares of the company’s stock valued at $1,905,000 after acquiring an additional 22,949 shares during the last quarter. Strategic Financial Concepts LLC bought a new position in C3.ai during the fourth quarter valued at approximately $2,015,000. Finally, Friedenthal Financial bought a new position in C3.ai during the fourth quarter valued at approximately $757,000. 38.96% of the stock is currently owned by institutional investors.

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.