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

C3.ai, Inc. (NYSE:AI - Get Free Report) saw some unusual options trading on Thursday. Traders purchased 119,687 call options on the stock. This represents an increase of approximately 57% compared to the typical daily volume of 76,415 call options.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Canaccord Genuity Group decreased their price objective on shares of C3.ai from $40.00 to $30.00 and set a "hold" rating for the company in a research report on Thursday. Morgan Stanley decreased their price target on shares of C3.ai from $32.00 to $30.00 and set an "underweight" rating for the company in a report on Thursday. DA Davidson dropped their price objective on shares of C3.ai from $40.00 to $25.00 and set a "neutral" rating on the stock in a report on Thursday. StockNews.com upgraded C3.ai to a "sell" rating in a research note on Tuesday, November 26th. Finally, JPMorgan Chase & Co. downgraded C3.ai from a "neutral" rating to an "underweight" rating and set a $28.00 price target on the stock. in a research note on Wednesday, December 11th. Five research analysts have rated the stock with a sell rating, five have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $31.33.

Insider Buying and Selling at C3.ai

In other news, Director Jim H. Snabe sold 499,700 shares of the company's stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $43.05, for a total transaction of $21,512,085.00. Following the transaction, the director now directly owns 10,000 shares of the company's stock, valued at approximately $430,500. This represents a 98.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Hitesh Lath sold 11,339 shares of the firm's stock in a transaction on Monday, December 9th. The stock was sold at an average price of $42.00, for a total value 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 disclosure for this sale can be found here. Insiders have sold 1,643,311 shares of company stock worth $59,736,620 over the last quarter. Insiders own 33.54% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AI. Creative Planning increased its holdings in shares of C3.ai by 7.0% in the third quarter. Creative Planning now owns 56,573 shares of the company's stock valued at $1,371,000 after purchasing an additional 3,712 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of C3.ai by 21.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 4,745 shares of the company's stock worth $115,000 after acquiring an additional 839 shares during the last quarter. International Assets Investment Management LLC purchased a new position in shares of C3.ai during the 3rd quarter worth $10,560,000. Pathway Financial Advisers LLC boosted its position in shares of C3.ai by 2,501.2% during the 3rd quarter. Pathway Financial Advisers LLC now owns 8,844 shares of the company's stock valued at $214,000 after acquiring an additional 8,504 shares during the last quarter. Finally, Focus Financial Network Inc. grew its holdings in shares of C3.ai by 34.5% in the third quarter. Focus Financial Network Inc. now owns 45,293 shares of the company's stock valued at $1,097,000 after purchasing an additional 11,617 shares during the period. Hedge funds and other institutional investors own 38.96% of the company's stock.

C3.ai Price Performance

NYSE AI traded down $1.40 during trading hours on Monday, reaching $22.05. The company's stock had a trading volume of 6,285,123 shares, compared to its average volume of 5,235,080. C3.ai has a 1-year low of $18.85 and a 1-year high of $45.08. The firm has a market capitalization of $2.85 billion, a price-to-earnings ratio of -9.98 and a beta of 1.98. The company's 50-day moving average is $32.39 and its two-hundred day moving average is $29.61.

C3.ai (NYSE:AI - Get Free Report) last posted its quarterly earnings data on Wednesday, February 26th. The company reported ($0.62) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.37). The firm had revenue of $98.78 million for the quarter, compared to analysts' expectations of $98.12 million. C3.ai had a negative return on equity of 31.31% and a negative net margin of 79.17%. Equities analysts forecast that C3.ai will post -2.44 EPS for the current fiscal year.

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.