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

C3.ai, Inc. (NYSE:AI - Get Free Report) saw unusually large options trading activity on Friday. Stock investors bought 149,780 call options on the company. This is an increase of approximately 122% compared to the average daily volume of 67,453 call options.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. KeyCorp decreased their price objective on shares of C3.ai from $21.00 to $17.00 and set an "underweight" rating for the company in a research report on Thursday, April 17th. DA Davidson decreased their price target on shares of C3.ai from $25.00 to $18.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Morgan Stanley dropped their price objective on shares of C3.ai from $30.00 to $20.00 and set an "underweight" rating on the stock in a report on Wednesday, April 16th. Canaccord Genuity Group reduced their target price on C3.ai from $40.00 to $30.00 and set a "hold" rating for the company in a research note on Thursday, February 27th. Finally, Piper Sandler dropped their price target on C3.ai from $42.00 to $28.00 and set a "neutral" rating on the stock in a research note on Thursday, February 27th. Five analysts have rated the stock with a sell rating, five have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $29.58.

Insider Buying and Selling

In other C3.ai news, CEO Thomas M. Siebel sold 294,116 shares of the firm's stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $21.50, for a total value of $6,323,494.00. Following the completion of the sale, the chief executive officer now directly owns 943,151 shares in the company, valued at $20,277,746.50. This trade represents a 23.77 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Merel Witteveen sold 1,133 shares of the company's stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $22.25, for a total value of $25,209.25. Following the transaction, the vice president now directly owns 7,287 shares in the company, valued at approximately $162,135.75. The trade was a 13.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,461,977 shares of company stock valued at $37,418,759 over the last 90 days. Corporate insiders own 33.54% of the company's stock.

Institutional Investors Weigh In On C3.ai

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. grew its position in shares of C3.ai by 10.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 933,139 shares of the company's stock valued at $32,128,000 after purchasing an additional 88,750 shares during the period. SBI Securities Co. Ltd. acquired a new position in shares of C3.ai during the 4th quarter worth about $3,996,000. Vanguard Group Inc. lifted its stake in C3.ai by 3.6% in the 4th quarter. Vanguard Group Inc. now owns 12,935,969 shares of the company's stock valued at $445,385,000 after buying an additional 446,529 shares in the last quarter. Janney Montgomery Scott LLC boosted its holdings in C3.ai by 70.9% in the 4th quarter. Janney Montgomery Scott LLC now owns 55,339 shares of the company's stock worth $1,905,000 after buying an additional 22,949 shares during the last quarter. Finally, Strategic Financial Concepts LLC purchased a new stake in C3.ai during the 4th quarter worth approximately $2,015,000. Hedge funds and other institutional investors own 38.96% of the company's stock.

C3.ai Price Performance

AI stock traded down $0.11 during midday trading on Friday, hitting $23.36. 3,060,830 shares of the stock traded hands, compared to its average volume of 5,148,595. The stock's fifty day simple moving average is $21.36 and its 200-day simple moving average is $28.57. The firm has a market cap of $3.10 billion, a P/E ratio of -10.57 and a beta of 1.99. C3.ai has a 1-year low of $17.03 and a 1-year high of $45.08.

C3.ai (NYSE:AI - Get Free Report) last announced its quarterly earnings results on Wednesday, February 26th. The company reported ($0.62) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($0.37). The business had revenue of $98.78 million during the quarter, compared to analysts' expectations of $98.12 million. C3.ai had a negative net margin of 79.17% and a negative return on equity of 31.31%. On average, research analysts predict that C3.ai will post -2.44 earnings per share for the current 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.