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

C3.ai, Inc. (NYSE:AI) was the target of unusually large options trading on Friday. Stock investors bought 112,478 call options on the stock. This is an increase of approximately 209% compared to the typical daily volume of 36,426 call options.

Insiders Place Their Bets

In other C3.ai news, CFO Hitesh Lath sold 48,619 shares of the business’s 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 transaction, the chief financial officer directly owned 383,106 shares of the company’s stock, valued at approximately $3,359,839.62. The trade was a 11.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 Stephen Bradley Ehikian sold 50,542 shares of the stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $9.45, for a total value of $477,621.90. Following the completion of the sale, the chief executive officer owned 651,130 shares of the company’s stock, valued at $6,153,178.50. This trade represents a 7.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 1,155,144 shares of company stock worth $11,420,651. Corporate insiders own 26.50% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. Handelsbanken Fonder AB increased its stake in C3.ai by 31.3% in the 2nd quarter. Handelsbanken Fonder AB now owns 41,500 shares of the company’s stock valued at $377,000 after buying an additional 9,900 shares during the last quarter. Shearwater Capital LLC boosted its stake in shares of C3.ai by 5.3% during the 2nd quarter. Shearwater Capital LLC now owns 70,826 shares of the company’s stock worth $644,000 after buying an additional 3,550 shares during the last quarter. 180 Wealth Advisors LLC boosted its stake in shares of C3.ai by 14.6% during the 2nd quarter. 180 Wealth Advisors LLC now owns 89,538 shares of the company’s stock worth $814,000 after buying an additional 11,388 shares during the last quarter. CoreCap Advisors LLC boosted its stake in shares of C3.ai by 34.0% during the 2nd quarter. CoreCap Advisors LLC now owns 6,145 shares of the company’s stock worth $56,000 after buying an additional 1,560 shares during the last quarter. Finally, Versant Capital Management Inc grew its holdings 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 acquiring an additional 6,433 shares in the last quarter. Institutional investors and hedge funds own 38.96% of the company’s stock.

C3.ai Stock Performance

Shares of C3.ai stock opened at $9.18 on Friday. The firm has a market cap of $1.43 billion, a PE ratio of -2.75 and a beta of 2.06. The business’s 50 day simple moving average is $9.60 and its 200 day simple moving average is $9.77. 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 results on Wednesday, June 3rd. The company reported ($0.33) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.38) by $0.05. The firm had revenue of $51.60 million during the quarter, compared to the consensus estimate 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 revenue was down 52.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.16) EPS. As a group, equities research analysts predict that C3.ai will post -2.28 EPS for the current year.

Wall Street Analysts Forecast Growth

AI has been the topic of several research analyst reports. Needham & Company LLC restated a “hold” rating on shares of C3.ai in a report on Thursday, June 4th. Wedbush reiterated an “outperform” rating and issued a $15.00 price target on shares of C3.ai in a report on Thursday, June 4th. UBS Group raised their price objective on shares of C3.ai from $9.00 to $12.00 and gave the stock a “neutral” rating in a report on Thursday, June 4th. DA Davidson reaffirmed an “underperform” rating and issued a $7.00 price objective on shares of C3.ai in a research report on Thursday, June 4th. Finally, Citizens Jmp reaffirmed a “market perform” rating on shares of C3.ai in a research note on Thursday, June 4th. One research analyst has rated the stock with a Buy rating, six have given a Hold rating and six have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus target price of $10.67.

C3.ai Company Profile

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.