UiPath (NYSE:PATH) Shares Up 0.5% – Here’s What Happened

UiPath Inc. (NYSE:PATH)’s stock price traded up 0.5% during mid-day trading on Wednesday . The stock traded as high as $13.73 and last traded at $13.35. 2,163,790 shares traded hands during trading, a decline of 73% from the average session volume of 8,080,390 shares. The stock had previously closed at $13.28.

Analyst Ratings Changes

PATH has been the subject of a number of research analyst reports. UBS Group initiated coverage on shares of UiPath in a research note on Thursday, December 12th. They issued a “sell” rating and a $14.00 target price for the company. Wells Fargo & Company decreased their price objective on UiPath from $15.00 to $13.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 23rd. Morgan Stanley raised their target price on UiPath from $15.00 to $16.00 and gave the stock an “equal weight” rating in a research report on Friday, December 6th. BMO Capital Markets boosted their price target on shares of UiPath from $15.00 to $16.00 and gave the company a “market perform” rating in a report on Friday, December 6th. Finally, Barclays reduced their price objective on shares of UiPath from $16.00 to $15.00 and set an “equal weight” rating for the company in a report on Friday, January 10th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $17.44.

UiPath Stock Performance

The firm’s 50-day moving average price is $13.59 and its 200 day moving average price is $12.78. The company has a market cap of $7.42 billion, a price-to-earnings ratio of -84.38 and a beta of 0.96.

Insider Transactions at UiPath

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

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of PATH. Pacer Advisors Inc. acquired a new position in shares of UiPath in the second quarter valued at approximately $69,180,000. Jacobs Levy Equity Management Inc. boosted its holdings in shares of UiPath by 554.8% in the third quarter. Jacobs Levy Equity Management Inc. now owns 4,026,502 shares of the company’s stock valued at $51,539,000 after buying an additional 3,411,562 shares during the period. Senvest Management LLC boosted its holdings in shares of UiPath by 16.7% in the third quarter. Senvest Management LLC now owns 10,894,483 shares of the company’s stock valued at $139,449,000 after buying an additional 1,559,500 shares during the period. Worldquant Millennium Advisors LLC acquired a new position in shares of UiPath in the third quarter valued at approximately $19,071,000. Finally, Renaissance Technologies LLC acquired a new position in shares of UiPath in the second quarter valued at approximately $13,280,000. Institutional investors and hedge funds own 62.50% of the company’s stock.

About UiPath

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.