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

C3.ai, Inc. (NYSE:AI) saw unusually large options trading on Friday. Traders bought 144,455 call options on the company. This is an increase of approximately 95% compared to the average volume of 74,127 call options.

Analyst Ratings Changes

A number of analysts recently issued reports on AI shares. DA Davidson raised C3.ai to a “hold” rating in a research note on Wednesday, December 18th. JPMorgan Chase & Co. cut C3.ai from a “neutral” rating to an “underweight” rating and set a $28.00 price objective for the company. in a research report on Wednesday, December 11th. Needham & Company LLC reaffirmed a “hold” rating on shares of C3.ai in a research report on Tuesday, December 10th. StockNews.com upgraded shares of C3.ai to a “sell” rating in a report on Tuesday, November 26th. Finally, Piper Sandler raised their price objective on C3.ai from $24.00 to $42.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Five equities research 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. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $35.00.

C3.ai Price Performance

NYSE AI traded down $0.18 on Friday, reaching $33.47. The stock had a trading volume of 3,735,912 shares, compared to its average volume of 4,566,853. C3.ai has a 1-year low of $18.85 and a 1-year high of $45.08. The company has a market cap of $4.32 billion, a P/E ratio of -15.15 and a beta of 1.98. The firm has a fifty day moving average of $35.30 and a two-hundred day moving average of $29.10.

Insiders Place Their Bets

In related news, VP Merel Witteveen sold 11,132 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $34.95, for a total transaction of $389,063.40. Following the completion of the sale, the vice president now directly owns 4,142 shares of the company’s stock, valued at $144,762.90. The trade was a 72.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Jim H. Snabe sold 499,700 shares of the company’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $43.05, for a total transaction of $21,512,085.00. Following the sale, the director now owns 10,000 shares of the company’s stock, valued at $430,500. The trade was a 98.04 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,090,552 shares of company stock valued at $41,475,697. 33.54% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Brown Lisle Cummings Inc. grew its stake in C3.ai by 100.0% during the fourth quarter. Brown Lisle Cummings Inc. now owns 800 shares of the company’s stock worth $28,000 after buying an additional 400 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in shares of C3.ai by 3.4% in the 3rd quarter. Victory Capital Management Inc. now owns 14,078 shares of the company’s stock valued at $341,000 after purchasing an additional 457 shares in the last quarter. Geneos Wealth Management Inc. increased its stake in shares of C3.ai by 72.4% in the 4th quarter. Geneos Wealth Management Inc. now owns 1,322 shares of the company’s stock valued at $46,000 after purchasing an additional 555 shares during the last quarter. Versor Investments LP raised its holdings in shares of C3.ai by 6.4% during the 3rd quarter. Versor Investments LP now owns 12,800 shares of the company’s stock worth $310,000 after buying an additional 770 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its position in shares of C3.ai by 311.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,050 shares of the company’s stock worth $30,000 after buying an additional 795 shares during the last quarter. Institutional investors and hedge funds own 38.96% of the company’s stock.

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.