C3.ai Sees Unusually Large Options Volume (NYSE:AI)

C3.ai, Inc. (NYSE:AI) saw some unusual options trading activity on Wednesday. Investors bought 182,940 call options on the stock. Thisrepresentsanincreaseof145% compared to the typical daily volume of 74,622 call options.

Insider Buying and Selling

In other C3.ai news, CEO Thomas M. Siebel sold 601,498 shares of the stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $25.02, for a total value of $15,049,479.96. Following the completion of the transaction, the chief executive officer owned 3,816,802 shares in the company, valued at approximately $95,496,386.04. This represents a 13.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Hitesh Lath sold 17,689 shares of C3.ai stock in a transaction on Friday, June 27th. The stock was sold at an average price of $24.96, for a total value of $441,517.44. Following the transaction, the chief financial officer directly owned 166,218 shares of the company’s stock, valued at approximately $4,148,801.28. This represents a 9.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,298,892 shares of company stock valued at $58,428,808 over the last three months. 33.54% of the stock is currently owned by insiders.

Institutional Investors Weigh In On C3.ai

A number of hedge funds have recently modified their holdings of the business. Wedbush Securities Inc. grew its stake in C3.ai by 26.1% in the second quarter. Wedbush Securities Inc. now owns 32,855 shares of the company’s stock valued at $807,000 after purchasing an additional 6,795 shares in the last quarter. Savant Capital LLC grew its position in C3.ai by 14.6% during the second quarter. Savant Capital LLC now owns 13,315 shares of the company’s stock worth $327,000 after buying an additional 1,696 shares in the last quarter. Moors & Cabot Inc. increased its holdings in C3.ai by 5.2% in the 2nd quarter. Moors & Cabot Inc. now owns 14,263 shares of the company’s stock valued at $350,000 after buying an additional 700 shares during the period. Bank of Montreal Can raised its holdings in shares of C3.ai by 8.1% during the 2nd quarter. Bank of Montreal Can now owns 30,031 shares of the company’s stock worth $738,000 after buying an additional 2,244 shares in the last quarter. Finally, Arkadios Wealth Advisors lifted its stake in C3.ai by 7.1% in the 2nd quarter. Arkadios Wealth Advisors now owns 19,314 shares of the company’s stock valued at $475,000 after purchasing an additional 1,281 shares during the last quarter. Institutional investors and hedge funds own 38.96% of the company’s stock.

C3.ai Price Performance

Shares of NYSE:AI opened at $23.24 on Thursday. The stock has a market capitalization of $3.12 billion, a price-to-earnings ratio of -10.37 and a beta of 1.98. C3.ai has a fifty-two week low of $17.03 and a fifty-two week high of $45.08. The business’s fifty day moving average price is $25.45 and its two-hundred day moving average price is $24.99.

C3.ai (NYSE:AI) last announced its quarterly earnings data on Wednesday, May 28th. The company reported ($0.16) EPS for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.04. The firm had revenue of $108.72 million for the quarter, compared to analyst estimates of $107.85 million. C3.ai had a negative return on equity of 33.51% and a negative net margin of 74.21%. The business’s quarterly revenue was up 25.5% compared to the same quarter last year. During the same period last year, the company earned ($0.11) EPS. Research analysts expect that C3.ai will post -2.44 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

AI has been the subject of a number of recent analyst reports. Wall Street Zen upgraded shares of C3.ai from a “sell” rating to a “hold” rating in a report on Saturday, July 12th. Oppenheimer reduced their target price on C3.ai from $56.00 to $45.00 and set an “outperform” rating on the stock in a report on Thursday, May 29th. UBS Group cut their target price on C3.ai from $28.00 to $27.00 and set a “neutral” rating on the stock in a research note on Thursday, June 26th. JMP Securities reaffirmed a “market outperform” rating and issued a $50.00 price objective on shares of C3.ai in a report on Friday, July 25th. Finally, Piper Sandler dropped their target price on shares of C3.ai from $28.00 to $27.00 and set a “neutral” rating on the stock in a report on Thursday, May 29th. Four analysts have rated the stock with a sell rating, seven have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, C3.ai currently has a consensus rating of “Hold” and an average price target of $29.79.

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.