Investors Buy High Volume of Call Options on C3.ai (NYSE:AI)

C3.ai, Inc. (NYSE:AI) was the recipient of unusually large options trading on Friday. Traders acquired 112,478 call options on the company. This is an increase of approximately 209% compared to the average daily volume of 36,426 call options.

Insider Buying and Selling

In other C3.ai news, CFO Hitesh Lath sold 48,619 shares of the stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $8.77, for a total value of $426,388.63. Following the completion of the sale, the chief financial officer directly owned 383,106 shares in the company, valued at approximately $3,359,839.62. This trade represents a 11.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed 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 Thomas M. Siebel sold 472,005 shares of the business’s 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 sale, the chief executive officer owned 722,362 shares in the company, valued at $8,025,441.82. The trade was a 39.52% decrease in their position. The disclosure for this sale is available in the SEC filing. 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. Insiders have sold a total of 1,155,144 shares of company stock worth $11,420,651 in the last ninety days. 26.50% of the stock is owned by insiders.

Institutional Trading of C3.ai

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. NewEdge Advisors LLC raised its position in shares of C3.ai by 48.7% in the first quarter. NewEdge Advisors LLC now owns 2,442 shares of the company’s stock worth $51,000 after acquiring an additional 800 shares during the period. Parallel Advisors LLC grew its position in shares of C3.ai by 76.4% during the 3rd quarter. Parallel Advisors LLC now owns 1,849 shares of the company’s stock valued at $32,000 after acquiring an additional 801 shares during the period. BOKF NA increased 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 in the last quarter. Farther Finance Advisors LLC increased its stake in shares of C3.ai by 66.1% in the 4th quarter. Farther Finance Advisors LLC now owns 2,141 shares of the company’s stock valued at $29,000 after purchasing an additional 852 shares in the last quarter. Finally, Geneos Wealth Management Inc. raised its holdings in C3.ai by 29.6% in the 4th quarter. Geneos Wealth Management Inc. now owns 4,373 shares of the company’s stock worth $59,000 after purchasing an additional 1,000 shares during the period. Institutional investors and hedge funds own 38.96% of the company’s stock.

C3.ai Stock Up 1.2%

C3.ai stock opened at $9.18 on Friday. The business’s 50-day moving average price is $9.60 and its 200 day moving average price is $9.77. The firm has a market cap of $1.43 billion, a price-to-earnings ratio of -2.75 and a beta of 2.06. C3.ai has a 52 week low of $7.68 and a 52 week high of $24.67.

C3.ai (NYSE:AI) last released its quarterly earnings data on Wednesday, June 3rd. The company reported ($0.33) EPS for the quarter, topping the consensus estimate of ($0.38) by $0.05. The business had revenue of $51.60 million for the quarter, compared to analyst estimates of $51.60 million. C3.ai had a negative return on equity of 62.44% and a negative net margin of 187.95%.The business’s quarterly revenue was down 52.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.16) EPS. Equities analysts expect that C3.ai will post -2.28 EPS for the current year.

Analyst Ratings Changes

Several brokerages recently commented on AI. Morgan Stanley increased their price objective on shares of C3.ai from $6.00 to $7.00 and gave the company an “underweight” rating in a research report on Thursday, June 4th. KeyCorp reissued an “underweight” rating on shares of C3.ai in a research report on Thursday, June 4th. Citizens Jmp restated a “market perform” rating on shares of C3.ai in a research note on Thursday, June 4th. Needham & Company LLC reaffirmed a “hold” rating on shares of C3.ai in a report on Thursday, June 4th. Finally, Weiss Ratings downgraded shares of C3.ai from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, June 16th. One investment analyst has rated the stock with a Buy rating, six have assigned a Hold rating and six have given a Sell rating to the company’s stock. According to data from MarketBeat, C3.ai currently has a consensus rating of “Reduce” and a consensus target price of $10.67.

About C3.ai

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.