UiPath (NYSE:PATH) Trading 0.6% Higher – Still a Buy?

UiPath Inc. (NYSE:PATH) shares were up 0.6% on Thursday . The company traded as high as $13.62 and last traded at $13.53. Approximately 1,283,209 shares were traded during trading, a decline of 83% from the average daily volume of 7,747,013 shares. The stock had previously closed at $13.45.

Analysts Set New Price Targets

Several research firms recently weighed in on PATH. Wells Fargo & Company dropped their price target on UiPath from $15.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 23rd. BMO Capital Markets boosted their price objective on shares of UiPath from $15.00 to $16.00 and gave the stock a “market perform” rating in a report on Friday, December 6th. Needham & Company LLC reissued a “hold” rating on shares of UiPath in a report on Wednesday, January 15th. JPMorgan Chase & Co. raised their target price on UiPath from $17.00 to $18.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. Finally, Morgan Stanley boosted their price objective on UiPath from $15.00 to $16.00 and gave the company an “equal weight” rating in a research note on Friday, December 6th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $17.44.

UiPath Stock Up 1.6 %

The company has a market capitalization of $7.51 billion, a P/E ratio of -85.47 and a beta of 0.96. The company has a 50 day simple moving average of $13.57 and a two-hundred day simple moving average of $12.79.

Insider Activity at UiPath

In other news, CAO Hitesh Ramani sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $13.05, for a total transaction of $326,250.00. Following the transaction, the chief accounting officer now directly owns 269,421 shares of the company’s stock, valued at approximately $3,515,944.05. This trade represents a 8.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Ashim Gupta sold 47,227 shares of the company’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $13.06, for a total value of $616,784.62. Following the completion of the sale, the chief financial officer now owns 856,538 shares of the company’s stock, valued at $11,186,386.28. This represents a 5.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 22.37% of the stock is currently owned by insiders.

Hedge Funds Weigh In On UiPath

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Future Financial Wealth Managment LLC purchased a new position in shares of UiPath in the 3rd quarter valued at approximately $26,000. JTC Employer Solutions Trustee Ltd purchased a new position in shares of UiPath during the third quarter worth $26,000. Quarry LP boosted its holdings in UiPath by 654.4% in the third quarter. Quarry LP now owns 3,146 shares of the company’s stock valued at $40,000 after purchasing an additional 2,729 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in UiPath by 124.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 4,098 shares of the company’s stock worth $52,000 after acquiring an additional 2,274 shares during the period. Finally, True Wealth Design LLC boosted its position in UiPath by 21,710.0% in the 3rd quarter. True Wealth Design LLC now owns 4,362 shares of the company’s stock worth $56,000 after purchasing an additional 4,342 shares in the last quarter. Hedge funds and other institutional investors own 62.50% of the company’s stock.

UiPath Company Profile

UiPath Inc provides an end-to-end automation platform that offers a range of robotic process automation (RPA) solutions primarily in the United States, Romania, the United Kingdom, the Netherlands, and internationally. The company offers a suite of interrelated software to build, manage, run, engage, measure, and govern automation within the organization.