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

C3.ai, Inc. (NYSE:AI) saw some unusual options trading activity on Friday. Stock investors purchased 170,377 call options on the stock. This is an increase of approximately 75% compared to the typical volume of 97,088 call options.

Insider Buying and Selling at C3.ai

In other news, EVP Robert David Schilling sold 470,420 shares of C3.ai stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $17.29, for a total transaction of $8,133,561.80. Following the sale, the executive vice president owned 1,011,327 shares in the company, valued at $17,485,843.83. This trade represents a 31.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Thomas M. Siebel sold 17,000 shares of the company’s stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $14.21, for a total transaction of $241,570.00. Following the completion of the transaction, the chairman owned 15,736 shares of the company’s stock, valued at $223,608.56. This trade represents a 51.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 2,226,479 shares of company stock valued at $38,129,955 over the last 90 days. 26.50% of the stock is owned by corporate insiders.

Institutional Trading of C3.ai

Hedge funds have recently made changes to their positions in the stock. Bogart Wealth LLC boosted its position in C3.ai by 22.7% during the 2nd quarter. Bogart Wealth LLC now owns 2,700 shares of the company’s stock valued at $66,000 after purchasing an additional 500 shares during the period. PNC Financial Services Group Inc. increased its position in C3.ai by 8.4% in the first quarter. PNC Financial Services Group Inc. now owns 6,546 shares of the company’s stock worth $138,000 after buying an additional 510 shares during the period. ProShare Advisors LLC lifted its stake in C3.ai by 2.4% in the second quarter. ProShare Advisors LLC now owns 25,548 shares of the company’s stock valued at $628,000 after buying an additional 593 shares during the last quarter. Moors & Cabot Inc. boosted its holdings in shares of C3.ai by 5.2% during the second quarter. Moors & Cabot Inc. now owns 14,263 shares of the company’s stock valued at $350,000 after acquiring an additional 700 shares during the period. Finally, Ameritas Investment Partners Inc. grew its position in shares of C3.ai by 6.8% during the second quarter. Ameritas Investment Partners Inc. now owns 12,365 shares of the company’s stock worth $304,000 after acquiring an additional 791 shares during the last quarter. Institutional investors own 38.96% of the company’s stock.

C3.ai Stock Down 3.9%

Shares of NYSE:AI opened at $15.29 on Friday. The company has a market cap of $2.11 billion, a PE ratio of -5.40 and a beta of 1.97. C3.ai has a fifty-two week low of $12.59 and a fifty-two week high of $44.34. The firm has a 50-day simple moving average of $16.22 and a 200 day simple moving average of $19.89.

C3.ai (NYSE:AI) last issued its earnings results on Wednesday, December 3rd. The company reported ($0.25) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $75.15 million for the quarter, compared to analysts’ expectations of $74.86 million. During the same quarter last year, the company posted ($0.06) earnings per share. C3.ai’s revenue was down 20.3% on a year-over-year basis. As a group, research analysts forecast that C3.ai will post -2.44 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts recently issued reports on AI shares. Wall Street Zen cut shares of C3.ai from a “hold” rating to a “sell” rating in a report on Saturday, August 16th. JMP Securities dropped their target price on shares of C3.ai from $30.00 to $24.00 and set a “market outperform” rating for the company in a research report on Thursday, September 4th. Canaccord Genuity Group restated a “hold” rating and issued a $16.00 target price on shares of C3.ai in a research note on Thursday, December 4th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of C3.ai in a research report on Wednesday, October 8th. Finally, UBS Group lifted their price target on C3.ai from $16.00 to $17.00 and gave the stock a “neutral” rating in a research note on Friday, September 12th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, seven have given a Hold rating and five have given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Reduce” and a consensus target price of $21.92.

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.