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

C3.ai, Inc. (NYSE:AI) was the recipient of unusually large options trading on Friday. Traders acquired 59,346 call options on the stock. This represents an increase of 64% compared to the typical daily volume of 36,203 call options.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Canaccord Genuity Group upped their price target on shares of C3.ai from $8.00 to $10.00 and gave the company a “hold” rating in a report on Thursday, June 4th. Citizens Jmp reaffirmed a “market perform” rating on shares of C3.ai in a research report on Thursday, June 4th. Needham & Company LLC reaffirmed a “hold” rating on shares of C3.ai in a research note on Thursday, June 4th. Weiss Ratings upgraded C3.ai from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, August 4th. Finally, KeyCorp reissued an “underweight” rating on shares of C3.ai in a research note on Thursday, June 4th. One investment analyst has rated the stock with a Buy rating, four have assigned a Hold rating and six have given a Sell rating to the company’s stock. Based on data from MarketBeat, C3.ai currently has a consensus rating of “Reduce” and an average target price of $10.09.

Insider Buying and Selling at C3.ai

In other C3.ai news, CEO Thomas M. Siebel sold 472,005 shares of the stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $11.11, for a total value of $5,243,975.55. Following the completion of the sale, the chief executive officer directly owned 722,362 shares in the company, valued at $8,025,441.82. This represents a 39.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Stephen Bradley Ehikian sold 50,542 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $9.45, for a total value of $477,621.90. Following the sale, the chief executive officer directly owned 651,130 shares in the company, valued at approximately $6,153,178.50. This represents a 7.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 1,259,110 shares of company stock valued at $13,281,297. Company insiders own 26.50% of the company’s stock.

Hedge Funds Weigh In On C3.ai

A number of institutional investors have recently bought and sold shares of the business. NewEdge Advisors LLC increased its position in C3.ai by 48.7% during the 1st quarter. NewEdge Advisors LLC now owns 2,442 shares of the company’s stock valued at $51,000 after purchasing an additional 800 shares during the period. Parallel Advisors LLC boosted its stake in shares of C3.ai by 76.4% in the 3rd quarter. Parallel Advisors LLC now owns 1,849 shares of the company’s stock valued at $32,000 after purchasing an additional 801 shares during the last quarter. BOKF NA boosted its stake in shares of C3.ai by 20.7% in the 3rd quarter. BOKF NA now owns 4,709 shares of the company’s stock valued at $82,000 after purchasing an additional 809 shares during the last quarter. Farther Finance Advisors LLC increased its position in shares of C3.ai by 66.1% during the fourth quarter. Farther Finance Advisors LLC now owns 2,141 shares of the company’s stock worth $29,000 after buying an additional 852 shares during the period. Finally, Geneos Wealth Management Inc. increased its position in shares of C3.ai by 29.6% during the fourth quarter. Geneos Wealth Management Inc. now owns 4,373 shares of the company’s stock worth $59,000 after buying an additional 1,000 shares during the period. Institutional investors and hedge funds own 38.96% of the company’s stock.

C3.ai Stock Performance

C3.ai stock traded up $0.14 during mid-day trading on Friday, reaching $10.45. The company’s stock had a trading volume of 3,079,912 shares, compared to its average volume of 6,096,870. C3.ai has a 12 month low of $7.68 and a 12 month high of $20.22. The business’s 50 day simple moving average is $9.47 and its 200 day simple moving average is $9.47. The company has a market capitalization of $1.62 billion, a price-to-earnings ratio of -3.13 and a beta of 2.08.

C3.ai (NYSE:AI) last issued its quarterly earnings results on Wednesday, June 3rd. The company reported ($0.33) EPS for the quarter, topping the consensus estimate of ($0.38) by $0.05. The firm had revenue of $51.60 million for the quarter, compared to analysts’ expectations of $51.60 million. C3.ai had a negative net margin of 187.95% and a negative return on equity of 62.44%. The company’s revenue for the quarter was down 52.5% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.16) EPS. As a group, sell-side analysts expect that C3.ai will post -2.28 EPS for the current year.

C3.ai Company Profile

C3.ai, Inc is a leading enterprise software provider focused on delivering scalable artificial intelligence (AI) and Internet of Things (IoT) solutions to large organizations. The company’s core offering, the C3 AI Suite, is a comprehensive, model-driven platform that unifies data ingestion, model development, and application deployment. Through its suite of tools, C3.ai enables customers to accelerate digital transformation initiatives by applying advanced machine learning, predictive analytics, and AI-driven insights across a broad range of business functions.

The C3 AI Suite provides a low-code environment for data scientists and application developers to rapidly design, test, and deploy enterprise-scale AI applications.