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

C3.ai, Inc. (NYSE:AI) saw unusually large options trading activity on Wednesday. Investors acquired 122,512 call options on the company. This is an increase of 77% compared to the average daily volume of 69,321 call options.

C3.ai Trading Down 6.9 %

AI stock opened at $33.34 on Thursday. The stock has a market capitalization of $4.30 billion, a P/E ratio of -15.09 and a beta of 2.00. C3.ai has a 12 month low of $18.85 and a 12 month high of $45.08. The firm has a 50-day moving average price of $34.29 and a 200-day moving average price of $28.60.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on AI shares. JMP Securities upped their price target on shares of C3.ai from $40.00 to $55.00 and gave the company a “market outperform” rating in a report on Tuesday, December 10th. Canaccord Genuity Group boosted their price objective on shares of C3.ai from $23.00 to $40.00 and gave the stock a “hold” rating in a research report on Wednesday, December 11th. Morgan Stanley boosted their price objective 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. DA Davidson raised shares of C3.ai to a “hold” rating in a research report on Wednesday, December 18th. Finally, JPMorgan Chase & Co. lowered shares of 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. Five equities research analysts have rated the stock with a sell rating, five have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $35.00.

Insiders Place Their Bets

In other news, Director Jim H. Snabe sold 499,700 shares of C3.ai 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 completion of the sale, the director now owns 10,000 shares in the company, valued at $430,500. The trade was a 98.04 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Richard C. Levin sold 12,000 shares of C3.ai stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $34.80, for a total transaction of $417,600.00. Following the sale, the director now owns 161,664 shares of the company’s stock, valued at approximately $5,625,907.20. This represents a 6.91 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 668,721 shares of company stock valued at $28,425,151. Insiders own 33.54% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC raised its holdings in C3.ai by 8.8% during the 3rd quarter. Geode Capital Management LLC now owns 2,216,925 shares of the company’s stock worth $53,728,000 after purchasing an additional 178,870 shares during the last quarter. Hodges Capital Management Inc. bought a new position in C3.ai during the 3rd quarter worth approximately $1,955,000. State Street Corp raised its holdings in C3.ai by 1.8% during the 3rd quarter. State Street Corp now owns 2,121,391 shares of the company’s stock worth $51,401,000 after purchasing an additional 38,185 shares during the last quarter. Janus Henderson Group PLC raised its holdings in C3.ai by 21.3% during the 3rd quarter. Janus Henderson Group PLC now owns 52,182 shares of the company’s stock worth $1,265,000 after purchasing an additional 9,160 shares during the last quarter. Finally, Holocene Advisors LP raised its holdings in C3.ai by 98.4% during the 3rd quarter. Holocene Advisors LP now owns 75,780 shares of the company’s stock worth $1,836,000 after purchasing an additional 37,594 shares during the last quarter. Institutional investors own 38.96% of the company’s stock.

About C3.ai

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.