UiPath (NYSE:PATH) Trading Up 7.7% – Here’s What Happened

UiPath Inc. (NYSE:PATH) shares traded up 7.7% during trading on Tuesday . The stock traded as high as $14.93 and last traded at $14.82. 5,458,836 shares changed hands during mid-day trading, a decline of 31% from the average session volume of 7,881,635 shares. The stock had previously closed at $13.76.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Wells Fargo & Company reduced their price target on shares of UiPath from $15.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 23rd. Morgan Stanley upped their price target on shares of UiPath from $15.00 to $16.00 and gave the stock an “equal weight” rating in a research report on Friday, December 6th. UBS Group assumed coverage on shares of UiPath in a research report on Thursday, December 12th. They set a “sell” rating and a $14.00 price target for the company. BMO Capital Markets upped their price target on shares of UiPath from $15.00 to $16.00 and gave the stock a “market perform” rating in a research report on Friday, December 6th. Finally, JPMorgan Chase & Co. boosted their price objective on UiPath from $17.00 to $18.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, UiPath currently has an average rating of “Hold” and an average target price of $17.44.

UiPath Price Performance

The stock has a market capitalization of $8.01 billion, a price-to-earnings ratio of -91.09 and a beta of 0.96. The business has a 50 day simple moving average of $13.73 and a 200-day simple moving average of $12.86.

Insider Buying and Selling at UiPath

In other news, CAO Hitesh Ramani sold 25,000 shares of UiPath stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $13.05, for a total transaction of $326,250.00. Following the completion of the sale, the chief accounting officer now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 sale, the chief financial officer now owns 856,538 shares of the company’s stock, valued at $11,186,386.28. The trade was a 5.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 22.37% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Palumbo Wealth Management LLC bought a new position in UiPath during the fourth quarter worth $144,000. V Square Quantitative Management LLC grew its stake in UiPath by 33.4% in the 4th quarter. V Square Quantitative Management LLC now owns 3,030 shares of the company’s stock valued at $39,000 after purchasing an additional 759 shares during the period. Van ECK Associates Corp bought a new position in UiPath in the 4th quarter valued at $205,000. Savant Capital LLC grew its stake in UiPath by 483.1% in the 4th quarter. Savant Capital LLC now owns 225,906 shares of the company’s stock valued at $2,871,000 after purchasing an additional 187,161 shares during the period. Finally, Lecap Asset Management Ltd. boosted its stake in UiPath by 69.7% in the fourth quarter. Lecap Asset Management Ltd. now owns 116,289 shares of the company’s stock valued at $1,478,000 after acquiring an additional 47,772 shares during the last quarter. Institutional investors and hedge funds 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.