Traders Purchase High Volume of Call Options on C3.ai (NYSE:AI)

C3.ai, Inc. (NYSE:AI) was the recipient of unusually large options trading on Wednesday. Stock investors acquired 122,512 call options on the company. This represents an increase of 77% compared to the typical volume of 69,321 call options.

C3.ai Trading Down 6.9 %

AI stock opened at $33.34 on Friday. C3.ai has a 12-month low of $18.85 and a 12-month high of $45.08. The business’s 50-day moving average is $34.47 and its 200 day moving average is $28.63. The stock has a market cap of $4.30 billion, a price-to-earnings ratio of -15.09 and a beta of 2.00.

Analyst Ratings Changes

AI has been the topic of several research analyst reports. JPMorgan Chase & Co. downgraded C3.ai from a “neutral” rating to an “underweight” rating and set a $28.00 price target on the stock. in a research note on Wednesday, December 11th. Morgan Stanley upped their price objective on shares of C3.ai from $21.00 to $32.00 and gave the company an “underweight” rating in a report on Tuesday, December 10th. Piper Sandler raised their target price on shares of C3.ai from $24.00 to $42.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Canaccord Genuity Group upped their price target on shares of C3.ai from $23.00 to $40.00 and gave the company a “hold” rating in a report on Wednesday, December 11th. Finally, JMP Securities lifted their price objective on C3.ai from $40.00 to $55.00 and gave the company a “market outperform” rating in a research note on Tuesday, December 10th. Five investment analysts have rated the stock with a sell rating, five have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $35.00.

Insider Buying and Selling

In related news, Director Jim H. Snabe sold 499,700 shares of the company’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $43.05, for a total transaction of $21,512,085.00. Following the transaction, the director now directly owns 10,000 shares of the company’s stock, valued at $430,500. This represents a 98.04 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Hitesh Lath sold 3,949 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The stock was 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 approximately $36,048.36. This represents a 82.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 668,721 shares of company stock worth $28,425,151 in the last three months. 33.54% of the stock is owned by insiders.

Institutional Trading of C3.ai

A number of institutional investors have recently made changes to their positions in AI. Charles Schwab Investment Management Inc. lifted its stake in C3.ai by 12.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 844,389 shares of the company’s stock worth $20,460,000 after purchasing an additional 92,280 shares in the last quarter. PDT Partners LLC acquired a new position in C3.ai during the third quarter worth $1,624,000. Global Assets Advisory LLC purchased a new stake in C3.ai in the 3rd quarter valued at $743,000. Janney Montgomery Scott LLC purchased a new position in shares of C3.ai during the 3rd quarter worth $785,000. Finally, Intech Investment Management LLC acquired a new position in shares of C3.ai during the 3rd quarter valued at about $859,000. 38.96% of the stock is owned by institutional investors and hedge funds.

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.