C3.ai, Inc. (NYSE:AI - Get Free Report) saw some unusual options trading activity on Thursday. Investors bought 124,232 call options on the company. This is an increase of 78% compared to the average volume of 69,761 call options.
Insider Buying and Selling
In other news, CFO Hitesh Lath sold 17,689 shares of C3.ai stock in a transaction on Friday, June 27th. The shares were sold at an average price of $24.96, for a total value of $441,517.44. Following the transaction, the chief financial officer directly owned 166,218 shares of the company's stock, valued at $4,148,801.28. The trade was a 9.62% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Richard C. Levin sold 6,000 shares of the business's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $26.31, for a total transaction of $157,860.00. Following the completion of the transaction, the director directly owned 161,664 shares in the company, valued at $4,253,379.84. This represents a 3.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,400,434 shares of company stock worth $34,532,605. Corporate insiders own 33.54% of the company's stock.
Institutional Investors Weigh In On C3.ai
A number of hedge funds have recently added to or reduced their stakes in the stock. Garde Capital Inc. acquired a new position in shares of C3.ai during the first quarter valued at $29,000. Russell Investments Group Ltd. increased its holdings in shares of C3.ai by 100.7% during the fourth quarter. Russell Investments Group Ltd. now owns 909 shares of the company's stock valued at $31,000 after purchasing an additional 456 shares during the period. WealthTrak Capital Management LLC acquired a new position in shares of C3.ai during the fourth quarter valued at $33,000. Orion Capital Management LLC acquired a new position in shares of C3.ai during the fourth quarter valued at $34,000. Finally, CX Institutional acquired a new position in shares of C3.ai during the first quarter valued at $34,000. 38.96% of the stock is currently owned by institutional investors.
C3.ai Price Performance
AI traded up $0.34 during trading hours on Friday, hitting $28.70. 8,260,825 shares of the stock were exchanged, compared to its average volume of 5,357,069. The stock has a market cap of $3.86 billion, a price-to-earnings ratio of -12.81 and a beta of 1.99. C3.ai has a 12 month low of $17.03 and a 12 month high of $45.08. The stock has a 50-day simple moving average of $24.84 and a 200-day simple moving average of $25.76.
C3.ai (NYSE:AI - Get Free Report) last posted its earnings results on Wednesday, May 28th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.20) by $0.04. The company had revenue of $108.72 million for the quarter, compared to analysts' expectations of $107.85 million. C3.ai had a negative return on equity of 33.51% and a negative net margin of 74.21%. The firm's quarterly revenue was up 25.5% compared to the same quarter last year. During the same period last year, the business posted ($0.11) earnings per share. Sell-side analysts expect that C3.ai will post -2.44 EPS for the current year.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently weighed in on AI shares. Oppenheimer lowered their price target on shares of C3.ai from $56.00 to $45.00 and set an "outperform" rating on the stock in a research note on Thursday, May 29th. Canaccord Genuity Group decreased their price objective on shares of C3.ai from $30.00 to $28.00 and set a "hold" rating on the stock in a research report on Thursday, May 29th. KeyCorp reiterated a "mixed" rating on shares of C3.ai in a research report on Thursday, May 29th. Westpark Capital upgraded shares of C3.ai to a "strong-buy" rating and set a $40.00 target price on the stock in a report on Wednesday, July 9th. Finally, Morgan Stanley upped their target price on shares of C3.ai from $20.00 to $22.00 and gave the company an "underweight" rating in a report on Thursday, May 29th. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, C3.ai presently has an average rating of "Hold" and a consensus target price of $30.14.
Check Out Our Latest Analysis on C3.ai
About C3.ai
(
Get Free Report)
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.
Further Reading
Before you consider C3.ai, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and C3.ai wasn't on the list.
While C3.ai currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering what the next stocks will be that hit it big, with solid fundamentals? Enter your email address to see which stocks MarketBeat analysts could become the next blockbuster growth stocks.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
