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

C3.ai, Inc. (NYSE:AI) was the target of some unusual options trading activity on Friday. Stock investors bought 168,705 call options on the stock. This represents an increase of approximately 301% compared to the typical volume of 42,088 call options.

Insider Activity at C3.ai

In other C3.ai news, CEO Thomas M. Siebel sold 435,363 shares of the business’s stock in a transaction on Tuesday, October 13th. The shares were sold at an average price of $11.82, for a total transaction of $5,145,990.66. Following the sale, the chief executive officer directly owned 722,362 shares of the company’s stock, valued at $8,538,318.84. The trade was a 37.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Hitesh Lath sold 20,000 shares of the business’s stock in a transaction on Monday, October 12th. The shares were sold at an average price of $12.37, for a total transaction of $247,400.00. Following the sale, the chief financial officer directly owned 305,250 shares in the company, valued at approximately $3,775,942.50. This trade represents a 6.15% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 1,413,672 shares of company stock valued at $15,577,026. 19.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of AI. Western Wealth Management LLC acquired a new stake in shares of C3.ai during the 1st quarter valued at about $26,000. CoreCap Advisors LLC grew its stake in shares of C3.ai by 34.0% in the 2nd quarter. CoreCap Advisors LLC now owns 6,145 shares of the company’s stock valued at $56,000 after buying an additional 1,560 shares in the last quarter. Versant Capital Management Inc grew its stake in shares of C3.ai by 1,510.1% in the 2nd quarter. Versant Capital Management Inc now owns 6,859 shares of the company’s stock valued at $62,000 after buying an additional 6,433 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in C3.ai in the third quarter worth approximately $85,000. Finally, Fifth Third Bancorp increased its holdings in C3.ai by 12.2% in the third quarter. Fifth Third Bancorp now owns 8,765 shares of the company’s stock worth $96,000 after buying an additional 955 shares during the last quarter. 38.96% of the stock is owned by institutional investors and hedge funds.

C3.ai Stock Up 2.2%

Shares of C3.ai stock traded up $0.25 on Friday, hitting $11.63. 2,821,224 shares of the company traded hands, compared to its average volume of 5,838,601. C3.ai has a 12-month low of $7.68 and a 12-month high of $17.45. The company has a market cap of $1.87 billion, a PE ratio of -3.77 and a beta of 2.17. The company has a 50-day moving average price of $11.19 and a 200 day moving average price of $10.05.

C3.ai (NYSE:AI) last announced its quarterly earnings data on Wednesday, September 2nd. The company reported ($0.20) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.26) by $0.06. The business had revenue of $52.38 million during the quarter, compared to analyst estimates of $52.06 million. C3.ai had a negative return on equity of 61.25% and a negative net margin of 192.10%. C3.ai’s quarterly revenue was down 25.4% compared to the same quarter last year. During the same period last year, the company earned ($0.37) earnings per share. Equities research analysts anticipate that C3.ai will post -2.20 EPS for the current year.

Analysts Set New Price Targets

AI has been the subject of several research analyst reports. Citigroup reissued a “market perform” rating on shares of C3.ai in a research note on Thursday, September 3rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of C3.ai in a research note on Monday. Citizens Jmp reiterated a “market perform” rating on shares of C3.ai in a report on Tuesday, September 29th. Yorkville Ives assumed coverage on shares of C3.ai in a research report on Tuesday, October 6th. They issued an “in-line” rating and a $12.50 price target for the company. Finally, Wall Street Zen upgraded shares of C3.ai from a “sell” rating to a “hold” rating in a report on Sunday, October 11th. Two equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and seven have given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Reduce” and an average price target of $9.62.

About C3.ai

C3.ai, Inc (NYSE:AI) is an enterprise artificial intelligence software company that develops applications and tools designed to help organizations deploy AI at scale. Its products support the development, integration and operation of AI applications using data from multiple business systems and sources.

The company’s offerings include the C3 AI Platform, which provides capabilities for data management, machine learning, application development and model operations, as well as prebuilt applications for areas such as predictive maintenance, fraud detection, supply-chain optimization, customer engagement and energy management.