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

C3.ai, Inc. (NYSE:AI) was the recipient of unusually large options trading on Thursday. Traders acquired 222,949 call options on the company. This is an increase of approximately 222% compared to the average daily volume of 69,291 call options.

Analyst Ratings Changes

AI has been the topic of a number of recent research reports. KeyCorp lowered C3.ai from a “sector weight” rating to an “underweight” rating and set a $29.00 price objective on the stock. in a research note on Thursday, December 19th. JMP Securities boosted their price target on shares of C3.ai from $40.00 to $55.00 and gave the company a “market outperform” rating in a research report on Tuesday, December 10th. Northland Securities raised their price objective on shares of C3.ai from $35.00 to $45.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 10th. StockNews.com upgraded shares of C3.ai to a “sell” rating in a report on Tuesday, November 26th. Finally, Canaccord Genuity Group raised their price target on shares of C3.ai from $23.00 to $40.00 and gave the stock a “hold” rating in a report on Wednesday, December 11th. 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 stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $35.00.

Insider Transactions at C3.ai

In other news, Director Jim H. Snabe sold 499,700 shares of the firm’s stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $43.05, for a total transaction of $21,512,085.00. Following the sale, the director now owns 10,000 shares of the company’s stock, valued at $430,500. This trade represents a 98.04 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Thomas M. Siebel sold 409,831 shares of the stock in a transaction on Tuesday, January 14th. The stock was sold at an average price of $30.97, for a total transaction of $12,692,466.07. Following the sale, the chief executive officer now directly owns 1,756,390 shares in the company, valued at $54,395,398.30. This trade represents a 18.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,078,552 shares of company stock valued at $41,117,617 in the last quarter. 33.54% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. JTC Employer Solutions Trustee Ltd acquired a new stake in C3.ai in the 3rd quarter valued at about $25,000. Northwestern Mutual Wealth Management Co. raised its holdings in C3.ai by 311.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,050 shares of the company’s stock valued at $30,000 after acquiring an additional 795 shares in the last quarter. Geneos Wealth Management Inc. lifted its stake in C3.ai by 72.4% in the fourth quarter. Geneos Wealth Management Inc. now owns 1,322 shares of the company’s stock worth $46,000 after acquiring an additional 555 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in C3.ai during the 2nd quarter worth approximately $41,000. Finally, Quest Partners LLC increased its position in shares of C3.ai by 9,033.3% in the 3rd 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 last quarter. 38.96% of the stock is currently owned by hedge funds and other institutional investors.

C3.ai Stock Up 2.4 %

C3.ai stock opened at $33.60 on Thursday. C3.ai has a 52-week low of $18.85 and a 52-week high of $45.08. The firm has a market cap of $4.34 billion, a PE ratio of -15.20 and a beta of 2.00. The company’s 50 day moving average is $35.27 and its two-hundred day moving average is $28.83.

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.