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

C3.ai, Inc. (NYSE:AI) saw some unusual options trading activity on Thursday. Traders purchased 222,949 call options on the stock. This is an increase of approximately 222% compared to the typical daily volume of 69,291 call options.

C3.ai Trading Down 3.6 %

AI opened at $32.82 on Friday. The firm’s 50 day simple moving average is $35.68 and its two-hundred day simple moving average is $28.92. The company has a market capitalization of $4.24 billion, a PE ratio of -14.85 and a beta of 2.00. C3.ai has a 1-year low of $18.85 and a 1-year high of $45.08.

Insider Activity

In other C3.ai news, CEO Thomas M. Siebel sold 409,831 shares of C3.ai stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $30.97, for a total transaction of $12,692,466.07. Following the completion of the transaction, the chief executive officer now owns 1,756,390 shares of the company’s stock, valued at $54,395,398.30. The trade was a 18.92 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Hitesh Lath sold 11,339 shares of the 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 in the company, valued at approximately $35,742. The trade was a 93.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,078,552 shares of company stock valued at $41,117,617 over the last quarter. Company insiders own 33.54% of the company’s stock.

Institutional Trading of C3.ai

Several institutional investors and hedge funds have recently modified their holdings of the company. CENTRAL TRUST Co purchased a new stake in C3.ai in the 4th quarter worth $34,000. Spire Wealth Management lifted its position in shares of C3.ai by 253.2% in the fourth quarter. Spire Wealth Management now owns 7,276 shares of the company’s stock worth $251,000 after buying an additional 5,216 shares in the last quarter. DAVENPORT & Co LLC bought a new position in C3.ai during the fourth quarter valued at approximately $209,000. DMC Group LLC bought a new stake in C3.ai in the 4th quarter worth approximately $269,000. Finally, R Squared Ltd purchased a new stake in shares of C3.ai during the 4th quarter worth approximately $29,000. 38.96% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Canaccord Genuity Group upped their target price on shares of C3.ai from $23.00 to $40.00 and gave the stock a “hold” rating in a research report on Wednesday, December 11th. Needham & Company LLC reiterated a “hold” rating on shares of C3.ai in a research report on Tuesday, December 10th. JMP Securities boosted their target price on C3.ai from $40.00 to $55.00 and gave the stock a “market outperform” rating in a research report on Tuesday, December 10th. KeyCorp cut shares of C3.ai from a “sector weight” rating to an “underweight” rating and set a $29.00 price target on the stock. in a research report on Thursday, December 19th. Finally, StockNews.com upgraded shares of C3.ai to a “sell” rating in a report on Tuesday, November 26th. Five 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 stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $35.00.

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.