C3.ai, Inc. (NYSE:AI – Get Free Report) was the target of unusually large options trading on Friday. Investors acquired 112,478 call options on the stock. This is an increase of 209% compared to the typical volume of 36,426 call options.
C3.ai Trading Up 1.2%
Shares of NYSE AI opened at $9.18 on Friday. The stock has a market cap of $1.43 billion, a PE ratio of -2.75 and a beta of 2.06. The company has a 50-day moving average of $9.60 and a 200 day moving average of $9.77. C3.ai has a 12-month low of $7.68 and a 12-month high of $24.67.
C3.ai (NYSE:AI – Get Free Report) last announced its quarterly earnings data on Wednesday, June 3rd. The company reported ($0.33) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.38) by $0.05. The firm had revenue of $51.60 million during the quarter, compared to analyst estimates of $51.60 million. C3.ai had a negative net margin of 187.95% and a negative return on equity of 62.44%. C3.ai’s quarterly revenue was down 52.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.16) earnings per share. On average, sell-side analysts forecast that C3.ai will post -2.28 EPS for the current fiscal year.
Analyst Ratings Changes
Read Our Latest Analysis on C3.ai
Insider Transactions at C3.ai
In other news, CEO Stephen Bradley Ehikian sold 50,542 shares of the stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $9.45, for a total transaction of $477,621.90. Following the transaction, the chief executive officer owned 651,130 shares in the company, valued at $6,153,178.50. This trade represents a 7.20% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Hitesh Lath sold 48,619 shares of the business’s stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $8.77, for a total transaction of $426,388.63. Following the completion of the sale, 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 position. Additional details regarding this sale are available in the official SEC disclosure. 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. Insiders sold a total of 1,155,144 shares of company stock valued at $11,420,651 in the last three months. 26.50% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
Several hedge funds have recently bought and sold shares of the stock. Bank of America Corp DE increased its position in shares of C3.ai by 55.1% during the first quarter. Bank of America Corp DE now owns 3,282,183 shares of the company’s stock valued at $27,636,000 after acquiring an additional 1,166,302 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of C3.ai by 77.1% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,804,188 shares of the company’s stock worth $31,284,000 after purchasing an additional 785,508 shares during the period. Two Sigma Investments LP acquired a new stake in C3.ai in the 3rd quarter valued at approximately $13,379,000. Voloridge Investment Management LLC acquired a new stake in C3.ai in the 4th quarter valued at approximately $9,183,000. Finally, Federated Hermes Inc. raised its position in C3.ai by 93,578.8% in the fourth quarter. Federated Hermes Inc. now owns 675,424 shares of the company’s stock valued at $9,105,000 after purchasing an additional 674,703 shares during the period. Hedge funds and other institutional investors own 38.96% of the company’s stock.
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.
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