C3.ai Target of Unusually Large Options Trading (NYSE:AI)

C3.ai, Inc. (NYSE:AI - Get Free Report) saw some unusual options trading on Wednesday. Traders purchased 122,512 call options on the company. This is an increase of approximately 77% compared to the average volume of 69,321 call options.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on AI shares. Northland Securities lifted their price objective on C3.ai from $35.00 to $45.00 and gave the company an "outperform" rating in a report on Tuesday, December 10th. Needham & Company LLC reiterated a "hold" rating on shares of C3.ai in a report on Tuesday, December 10th. KeyCorp lowered shares of C3.ai from a "sector weight" rating to an "underweight" rating and set a $29.00 target price on the stock. in a research report on Thursday, December 19th. Morgan Stanley lifted their price objective on C3.ai from $21.00 to $32.00 and gave the stock an "underweight" rating in a report on Tuesday, December 10th. Finally, JPMorgan Chase & Co. downgraded C3.ai from a "neutral" rating to an "underweight" rating and set a $28.00 price target for the company. in a research note on Wednesday, December 11th. Five investment 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 stock. According to data from MarketBeat, C3.ai has a consensus rating of "Hold" and a consensus target price of $35.00.

C3.ai Price Performance

AI traded down $2.48 during trading hours on Wednesday, reaching $33.34. 5,192,963 shares of the stock traded hands, compared to its average volume of 4,663,776. The firm's fifty day simple moving average is $34.14 and its two-hundred day simple moving average is $28.57. The company has a market cap of $4.30 billion, a price-to-earnings ratio of -15.09 and a beta of 2.00. C3.ai has a fifty-two week low of $18.85 and a fifty-two week high of $45.08.

Insider Activity

In other C3.ai news, CFO Hitesh Lath sold 11,339 shares of C3.ai stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $42.00, for a total transaction of $476,238.00. Following the completion of the sale, the chief financial officer now directly owns 851 shares of the company's stock, valued at $35,742. The trade was a 93.02 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jim H. Snabe sold 499,700 shares of the business's stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $43.05, for a total value of $21,512,085.00. Following the sale, the director now owns 10,000 shares of the company's stock, valued at approximately $430,500. The trade was a 98.04 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 668,721 shares of company stock worth $28,425,151. 33.54% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On C3.ai

A number of institutional investors have recently modified their holdings of the stock. JTC Employer Solutions Trustee Ltd acquired a new stake in C3.ai during the third quarter worth about $25,000. Northwestern Mutual Wealth Management Co. grew its holdings in shares of C3.ai by 311.8% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,050 shares of the company's stock valued at $30,000 after purchasing an additional 795 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of C3.ai in the 2nd quarter worth approximately $41,000. Quest Partners LLC boosted its position in C3.ai by 9,033.3% during the 3rd quarter. Quest Partners LLC now owns 1,644 shares of the company's stock valued at $40,000 after purchasing an additional 1,626 shares during the period. Finally, Arcadia Investment Management Corp MI bought a new position in C3.ai during the 3rd quarter worth $48,000. Institutional investors and hedge funds own 38.96% of the company's stock.

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.