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

C3.ai, Inc. (NYSE:AI) saw unusually large options trading activity on Wednesday. Stock traders bought 122,512 call options on the company. This represents an increase of 77% compared to the average daily volume of 69,321 call options.

Analyst Ratings Changes

A number of research firms have recently issued reports on AI. DA Davidson upgraded C3.ai to a “hold” rating in a research report on Wednesday, December 18th. JPMorgan Chase & Co. lowered C3.ai from a “neutral” rating to an “underweight” rating and set a $28.00 price target on the stock. in a report on Wednesday, December 11th. Needham & Company LLC restated a “hold” rating on shares of C3.ai in a research report on Tuesday, December 10th. Morgan Stanley increased their price target on shares of C3.ai from $21.00 to $32.00 and gave the company an “underweight” rating in a research note on Tuesday, December 10th. Finally, JMP Securities lifted their price target on shares of C3.ai from $40.00 to $55.00 and gave the company a “market outperform” rating in a research report on Tuesday, December 10th. Five investment analysts have rated the stock with a sell rating, five have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $35.00.

Insider Buying and Selling

In other news, Director Jim H. Snabe sold 499,700 shares of the company’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 transaction of $21,512,085.00. Following the completion of the transaction, the director now directly owns 10,000 shares of the company’s stock, valued at $430,500. This represents a 98.04 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Richard C. Levin sold 12,000 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $34.80, for a total transaction of $417,600.00. Following the completion of the sale, the director now directly owns 161,664 shares of the company’s stock, valued at approximately $5,625,907.20. The trade was a 6.91 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 668,721 shares of company stock worth $28,425,151 in the last three months. Corporate insiders own 33.54% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Principal Financial Group Inc. increased its position in C3.ai by 4.3% during the 2nd quarter. Principal Financial Group Inc. now owns 11,165 shares of the company’s stock worth $323,000 after purchasing an additional 462 shares during the period. Rhumbline Advisers boosted its position in shares of C3.ai by 0.5% during the 2nd quarter. Rhumbline Advisers now owns 125,344 shares of the company’s stock worth $3,630,000 after purchasing an additional 572 shares in the last quarter. Arizona State Retirement System grew its stake in shares of C3.ai by 9.9% during the 2nd quarter. Arizona State Retirement System now owns 29,869 shares of the company’s stock worth $865,000 after purchasing an additional 2,686 shares during the period. PFG Investments LLC grew its position in C3.ai by 46.8% during the second quarter. PFG Investments LLC now owns 17,868 shares of the company’s stock worth $517,000 after buying an additional 5,695 shares during the period. Finally, LGT Group Foundation acquired a new stake in shares of C3.ai during the 2nd quarter valued at approximately $1,425,000. 38.96% of the stock is currently owned by hedge funds and other institutional investors.

C3.ai Stock Performance

NYSE AI traded down $2.10 during trading on Wednesday, reaching $33.72. The company’s stock had a trading volume of 1,876,377 shares, compared to its average volume of 3,968,153. C3.ai has a twelve month low of $18.85 and a twelve month high of $45.08. The firm has a market cap of $4.35 billion, a price-to-earnings ratio of -15.26 and a beta of 2.00. The business’s fifty day moving average price is $34.14 and its 200-day moving average price is $28.57.

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.