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

C3.ai, Inc. (NYSE:AI) was the recipient of unusually large options trading on Wednesday. Stock investors purchased 122,512 call options on the stock. This represents an increase of 77% compared to the typical volume of 69,321 call options.

C3.ai Trading Down 5.9 %

C3.ai stock traded down $2.10 during mid-day trading on Wednesday, reaching $33.72. The company’s stock had a trading volume of 1,876,377 shares, compared to its average volume of 3,968,153. The business has a 50 day moving average price of $34.14 and a 200-day moving average price of $28.57. C3.ai has a twelve month low of $18.85 and a twelve month high of $45.08. The firm has a market cap of $4.35 billion, a price-to-earnings ratio of -15.26 and a beta of 2.00.

Analysts Set New Price Targets

Several research analysts recently commented on AI shares. Northland Securities raised their price target on shares of C3.ai from $35.00 to $45.00 and gave the company an “outperform” rating in a report on Tuesday, December 10th. Morgan Stanley upped their price target on shares of C3.ai from $21.00 to $32.00 and gave the stock an “underweight” rating in a research report on Tuesday, December 10th. JPMorgan Chase & Co. lowered C3.ai from a “neutral” rating to an “underweight” rating and set a $28.00 price objective on the stock. in a research report on Wednesday, December 11th. JMP Securities upped their target price on C3.ai from $40.00 to $55.00 and gave the stock a “market outperform” rating in a research report on Tuesday, December 10th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of C3.ai in a report on Tuesday, December 10th. Five equities research analysts have rated the stock with a sell rating, five have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $35.00.

Insider Buying and Selling

In other news, CFO Hitesh Lath sold 11,339 shares of C3.ai stock in a transaction on Monday, December 9th. The stock was sold at an average price of $42.00, for a total value of $476,238.00. Following the completion of the sale, the chief financial officer now owns 851 shares of the company’s stock, valued at $35,742. The trade was a 93.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jim H. Snabe sold 499,700 shares of the stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $43.05, for a total value of $21,512,085.00. Following the transaction, the director now owns 10,000 shares in the company, valued at $430,500. This trade represents a 98.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 668,721 shares of company stock worth $28,425,151 in the last ninety days. Insiders own 33.54% of the company’s stock.

Institutional Trading of C3.ai

Hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC raised its position in C3.ai by 8.8% in the third quarter. Geode Capital Management LLC now owns 2,216,925 shares of the company’s stock worth $53,728,000 after acquiring an additional 178,870 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in shares of C3.ai during the 2nd quarter worth $3,465,000. Charles Schwab Investment Management Inc. grew its holdings in shares of C3.ai by 12.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 844,389 shares of the company’s stock worth $20,460,000 after acquiring an additional 92,280 shares during the last quarter. Hodges Capital Management Inc. acquired a new stake in shares of C3.ai during the third quarter worth $1,955,000. Finally, Hsbc Holdings PLC lifted its holdings in shares of C3.ai by 679.8% during the second quarter. Hsbc Holdings PLC now owns 87,092 shares of the company’s stock valued at $2,500,000 after purchasing an additional 75,923 shares during the last quarter. Institutional investors own 38.96% of the company’s stock.

C3.ai Company Profile

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.