UiPath (NYSE:PATH) Trading Up 0.7% – Here’s Why

UiPath Inc. (NYSE:PATH)’s share price shot up 0.7% during mid-day trading on Wednesday . The company traded as high as $13.46 and last traded at $13.42. 2,400,212 shares changed hands during trading, a decline of 69% from the average session volume of 7,751,904 shares. The stock had previously closed at $13.33.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Wells Fargo & Company decreased 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 note on Wednesday, October 23rd. Morgan Stanley raised their target price on shares of UiPath from $15.00 to $16.00 and gave the stock an “equal weight” rating in a research note on Friday, December 6th. Barclays lowered their target price on UiPath from $16.00 to $15.00 and set an “equal weight” rating on the stock in a report on Friday, January 10th. UBS Group initiated coverage on UiPath in a research report on Thursday, December 12th. They set a “sell” rating and a $14.00 price objective on the stock. Finally, JPMorgan Chase & Co. upped their target price on UiPath from $17.00 to $18.00 and gave the company an “overweight” rating in a report on Friday, December 6th. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, UiPath currently has an average rating of “Hold” and a consensus price target of $17.44.

UiPath Stock Performance

The business’s 50 day moving average price is $13.59 and its 200-day moving average price is $12.80. The firm has a market capitalization of $7.65 billion, a PE ratio of -86.97 and a beta of 0.96.

Insider Buying and Selling at UiPath

In other UiPath news, CAO Hitesh Ramani sold 25,000 shares of UiPath stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $13.05, for a total value of $326,250.00. Following the completion of the transaction, the chief accounting officer now directly owns 269,421 shares of the company’s stock, valued at $3,515,944.05. The trade was a 8.49 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Ashim Gupta sold 47,227 shares of the business’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $13.06, for a total transaction of $616,784.62. Following the sale, the chief financial officer now owns 856,538 shares in the company, valued at $11,186,386.28. This trade 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 owned by corporate insiders.

Hedge Funds Weigh In On UiPath

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Senvest Management LLC increased its stake in shares of UiPath by 16.7% during the third quarter. Senvest Management LLC now owns 10,894,483 shares of the company’s stock worth $139,449,000 after buying an additional 1,559,500 shares during the period. Geode Capital Management LLC grew its holdings in UiPath by 7.2% during the 3rd quarter. Geode Capital Management LLC now owns 7,312,068 shares of the company’s stock worth $93,619,000 after acquiring an additional 493,502 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its position in shares of UiPath by 554.8% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 4,026,502 shares of the company’s stock valued at $51,539,000 after purchasing an additional 3,411,562 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of UiPath by 11.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,890,360 shares of the company’s stock valued at $36,997,000 after purchasing an additional 291,171 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of UiPath by 37.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,783,571 shares of the company’s stock worth $35,296,000 after purchasing an additional 754,519 shares during 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.