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

C3.ai, Inc. (NYSE:AI - Get Free Report) was the recipient of some unusual options trading activity on Friday. Stock investors acquired 158,384 call options on the company. This is an increase of 92% compared to the average daily volume of 82,329 call options.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on AI. Canaccord Genuity Group decreased their price objective on C3.ai from $40.00 to $30.00 and set a "hold" rating on the stock in a research report on Thursday, February 27th. Northland Securities lifted their price objective on C3.ai from $35.00 to $45.00 and gave the stock an "outperform" rating in a research report on Tuesday, December 10th. Morgan Stanley reduced their price objective on shares of C3.ai from $32.00 to $30.00 and set an "underweight" rating on the stock in a research note on Thursday, February 27th. JPMorgan Chase & Co. cut shares of C3.ai from a "neutral" rating to an "underweight" rating and set a $28.00 target price for the company. in a research report on Wednesday, December 11th. Finally, KeyCorp reduced their price target on C3.ai from $29.00 to $21.00 and set an "underweight" rating on the stock in a research report on Thursday, February 27th. Five analysts have rated the stock with a sell rating, five have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, C3.ai currently has a consensus rating of "Hold" and a consensus target price of $31.33.

C3.ai Price Performance

Shares of AI traded up $0.85 during mid-day trading on Monday, hitting $23.47. 3,039,404 shares of the company's stock were exchanged, compared to its average volume of 5,236,548. C3.ai has a 52 week low of $18.85 and a 52 week high of $45.08. The company has a market cap of $3.12 billion, a PE ratio of -10.62 and a beta of 2.03. The company has a 50-day simple moving average of $28.42 and a 200 day simple moving average of $29.37.

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C3.ai (NYSE:AI - Get Free Report) last issued its quarterly earnings results on Wednesday, February 26th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.37). C3.ai had a negative net margin of 79.17% and a negative return on equity of 31.31%. The business had revenue of $98.78 million during the quarter, compared to analyst estimates of $98.12 million. On average, analysts anticipate that C3.ai will post -2.44 earnings per share for the current year.

Insider Buying and Selling at C3.ai

In other news, VP Merel Witteveen sold 11,132 shares of C3.ai stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $34.95, for a total transaction of $389,063.40. Following the sale, the vice president now directly owns 4,142 shares in the company, valued at approximately $144,762.90. The trade was a 72.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard C. Levin sold 12,000 shares of the firm's stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $34.80, for a total transaction of $417,600.00. Following the transaction, the director now owns 161,664 shares of the company's stock, valued at approximately $5,625,907.20. This represents a 6.91 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,510,546 shares of company stock valued at $43,235,262 in the last ninety days. Company insiders own 33.54% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. boosted its holdings in shares of C3.ai by 12.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 844,389 shares of the company's stock valued at $20,460,000 after buying an additional 92,280 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in C3.ai in the fourth quarter valued at $3,996,000. PDT Partners LLC bought a new position in shares of C3.ai in the 3rd quarter valued at about $1,624,000. Janney Montgomery Scott LLC increased its stake in shares of C3.ai by 70.9% during the 4th quarter. Janney Montgomery Scott LLC now owns 55,339 shares of the company's stock worth $1,905,000 after purchasing an additional 22,949 shares during the last quarter. Finally, Strategic Financial Concepts LLC bought a new stake in shares of C3.ai in the 4th quarter valued at about $2,015,000. 38.96% of the stock is currently owned by institutional investors.

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.