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

C3.ai, Inc. (NYSE:AI) was the target of unusually large options trading activity on Thursday. Investors purchased 222,949 call options on the stock. This is an increase of approximately 222% compared to the average daily volume of 69,291 call options.

Analysts Set New Price Targets

AI has been the subject of several recent research reports. Piper Sandler lifted their price objective on C3.ai from $24.00 to $42.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. StockNews.com raised shares of C3.ai to a “sell” rating in a research report on Tuesday, November 26th. KeyCorp lowered shares of C3.ai from a “sector weight” rating to an “underweight” rating and set a $29.00 price objective on the stock. in a report on Thursday, December 19th. JPMorgan Chase & Co. lowered C3.ai from a “neutral” rating to an “underweight” rating and set a $28.00 target price for the company. in a report on Wednesday, December 11th. Finally, Northland Securities lifted their price target on C3.ai from $35.00 to $45.00 and gave the company an “outperform” rating in a report on Tuesday, December 10th. Five analysts have rated the stock with a sell rating, five have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $35.00.

C3.ai Stock Performance

Shares of NYSE AI opened at $32.82 on Friday. C3.ai has a fifty-two week low of $18.85 and a fifty-two week high of $45.08. The company has a market cap of $4.24 billion, a PE ratio of -14.85 and a beta of 2.00. The business has a 50-day simple moving average of $35.68 and a two-hundred day simple moving average of $28.92.

Insiders Place Their Bets

In other C3.ai news, CFO Hitesh Lath sold 3,949 shares of the business’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $42.36, for a total value of $167,279.64. Following the completion of the sale, the chief financial officer now directly owns 851 shares of the company’s stock, valued at $36,048.36. The trade was a 82.27 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Stephen M. Ward, Jr. sold 125,000 shares of C3.ai stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $42.00, for a total transaction of $5,250,000.00. Following the sale, the director now directly owns 546,495 shares of the company’s stock, valued at $22,952,790. This represents a 18.62 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,078,552 shares of company stock valued at $41,117,617 over the last 90 days. Insiders own 33.54% of the company’s stock.

Institutional Trading of C3.ai

Several large investors have recently bought and sold shares of the stock. JTC Employer Solutions Trustee Ltd acquired a new position in C3.ai in the 3rd quarter worth approximately $25,000. R Squared Ltd purchased a new stake in shares of C3.ai in the 4th quarter valued at $29,000. Northwestern Mutual Wealth Management Co. increased its stake in shares of C3.ai by 311.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,050 shares of the company’s stock worth $30,000 after acquiring an additional 795 shares during the period. CENTRAL TRUST Co purchased a new position in shares of C3.ai during the fourth quarter worth $34,000. Finally, Quest Partners LLC lifted its position in C3.ai by 9,033.3% during the third quarter. Quest Partners LLC now owns 1,644 shares of the company’s stock valued at $40,000 after purchasing an additional 1,626 shares during the period. Hedge funds and other 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.