Investors Purchase Large Volume of Call Options on C3.ai (NYSE:AI)

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

Insider Activity

In other C3.ai news, Director Stephen M. Ward, Jr. sold 42,382 shares of C3.ai stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $26.32, for a total value of $1,115,494.24. Following the transaction, the director directly owned 546,495 shares of the company's stock, valued at approximately $14,383,748.40. The trade was a 7.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Thomas M. Siebel sold 13,567 shares of the firm's 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. Insiders have sold a total of 1,752,730 shares of company stock worth $41,551,316 over the last 90 days. 33.54% of the stock is currently owned by insiders.

Institutional Investors Weigh In On C3.ai

Hedge funds have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. increased its position 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 worth $31,000 after acquiring an additional 456 shares during the period. PNC Financial Services Group Inc. raised its position in C3.ai by 8.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 6,546 shares of the company's stock valued at $138,000 after purchasing an additional 510 shares in the last quarter. Legal & General Group Plc boosted its stake in shares of C3.ai by 0.4% in the 4th quarter. Legal & General Group Plc now owns 119,144 shares of the company's stock valued at $4,102,000 after buying an additional 517 shares during the period. Corient Private Wealth LLC grew its position in shares of C3.ai by 2.4% during the fourth quarter. Corient Private Wealth LLC now owns 23,371 shares of the company's stock worth $805,000 after buying an additional 555 shares in the last quarter. Finally, CIBC Private Wealth Group LLC increased its stake in shares of C3.ai by 35.7% during the fourth quarter. CIBC Private Wealth Group LLC now owns 2,128 shares of the company's stock worth $71,000 after buying an additional 560 shares during the period. 38.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Needham & Company LLC reaffirmed a "hold" rating on shares of C3.ai in a research report on Thursday, May 29th. Morgan Stanley lifted 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. JPMorgan Chase & Co. decreased their target price on shares of C3.ai from $27.00 to $23.00 and set an "underweight" rating for the company in a research note on Thursday, May 29th. UBS Group cut their price objective on shares of C3.ai from $28.00 to $27.00 and set a "neutral" rating for the company in a report on Thursday. Finally, Canaccord Genuity Group lowered their target price on shares of C3.ai from $30.00 to $28.00 and set a "hold" rating on the stock in a research note on Thursday, May 29th. Five research analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $29.38.

C3.ai Stock Up 1.6%

NYSE:AI traded up $0.39 on Monday, reaching $24.63. The company's stock had a trading volume of 6,746,904 shares, compared to its average volume of 5,148,385. The firm has a market cap of $3.31 billion, a price-to-earnings ratio of -11.00 and a beta of 2.04. C3.ai has a 12-month low of $17.03 and a 12-month high of $45.08. The stock has a 50 day moving average price of $23.57 and a 200 day moving average price of $26.70.

C3.ai (NYSE:AI - Get Free Report) last announced its earnings results on Wednesday, May 28th. The company reported ($0.16) earnings per share for the quarter, topping the consensus estimate of ($0.20) by $0.04. C3.ai had a negative net margin of 74.21% and a negative return on equity of 33.51%. The company had revenue of $108.72 million during the quarter, compared to analyst estimates of $107.85 million. During the same quarter last year, the firm posted ($0.11) earnings per share. C3.ai's revenue was up 25.5% compared to the same quarter last year. Equities research analysts expect that C3.ai will post -2.44 EPS for the current fiscal 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.