C3.ai Target of Unusually Large Options Trading (NYSE:AI)

C3.ai, Inc. (NYSE:AI - Get Free Report) was the recipient of unusually large options trading on Friday. Investors purchased 116,244 call options on the stock. This is an increase of approximately 68% compared to the typical volume of 69,374 call options.

C3.ai Stock Performance

Shares of AI traded down $0.16 during mid-day trading on Friday, hitting $24.56. 2,500,966 shares of the company were exchanged, compared to its average volume of 5,097,277. The stock has a market cap of $3.26 billion, a price-to-earnings ratio of -10.97 and a beta of 2.04. The company has a 50 day moving average of $23.47 and a 200-day moving average of $26.98. 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 data on Wednesday, May 28th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.20) by $0.04. The company had revenue of $108.72 million during the quarter, compared to analysts' expectations of $107.85 million. C3.ai had a negative net margin of 74.21% and a negative return on equity of 33.51%. C3.ai's revenue was up 25.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.11) EPS. Research analysts anticipate that C3.ai will post -2.44 earnings per share for the current fiscal year.

Insider Transactions at C3.ai

In other C3.ai news, CFO Hitesh Lath sold 4,368 shares of C3.ai stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $29.45, for a total value of $128,637.60. Following the completion of the transaction, the chief financial officer now directly owns 250 shares of the company's stock, valued at approximately $7,362.50. The trade was a 94.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Thomas M. Siebel sold 13,567 shares of C3.ai stock in a transaction on Wednesday, April 16th. The stock was sold at an average price of $19.47, for a total value of $264,149.49. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,752,730 shares of company stock valued at $41,551,316. Corporate insiders own 33.54% of the company's stock.

Institutional Trading of C3.ai

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in C3.ai by 3.6% during the first quarter. Vanguard Group Inc. now owns 13,407,490 shares of the company's stock worth $282,228,000 after acquiring an additional 471,521 shares during the last quarter. Geode Capital Management LLC increased its position in shares of C3.ai by 14.1% during the 4th quarter. Geode Capital Management LLC now owns 2,529,991 shares of the company's stock worth $87,128,000 after purchasing an additional 313,066 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in C3.ai by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,157,303 shares of the company's stock valued at $45,414,000 after buying an additional 91,923 shares during the period. Two Sigma Investments LP purchased a new stake in C3.ai in the 4th quarter valued at about $42,306,000. Finally, Man Group plc acquired a new position in C3.ai in the fourth quarter valued at about $38,455,000. Hedge funds and other institutional investors own 38.96% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on AI shares. Piper Sandler dropped their price objective on shares of C3.ai from $28.00 to $27.00 and set a "neutral" rating on the stock in a report on Thursday, May 29th. Morgan Stanley lifted their price target on shares of C3.ai from $20.00 to $22.00 and gave the stock an "underweight" rating in a research note on Thursday, May 29th. DA Davidson lowered their target price on C3.ai from $25.00 to $18.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Wall Street Zen cut C3.ai from a "hold" rating to a "sell" rating in a research report on Friday, June 6th. Finally, JPMorgan Chase & Co. decreased their price target on shares of C3.ai from $27.00 to $23.00 and set an "underweight" rating on the stock in a research note on Thursday, May 29th. Five investment analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat, C3.ai presently has an average rating of "Hold" and an average target price of $29.38.

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.

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