Traders Purchase Large Volume of UiPath Call Options (NYSE:PATH)

UiPath Inc. (NYSE:PATH) was the target of some unusual options trading on Monday. Traders acquired 34,025 call options on the company. This represents an increase of approximately 65% compared to the average volume of 20,597 call options.

Wall Street Analysts Forecast Growth

PATH has been the subject of a number of recent research reports. Wells Fargo & Company cut their price objective on shares of UiPath from $15.00 to $13.00 and set an “equal weight” rating for the company in a report on Wednesday, October 23rd. Morgan Stanley increased their price target on UiPath from $15.00 to $16.00 and gave the stock an “equal weight” rating in a research report on Friday, December 6th. JPMorgan Chase & Co. upped their target price on UiPath from $17.00 to $18.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. Barclays raised their price target on UiPath from $15.00 to $16.00 and gave the stock an “equal weight” rating in a research report on Friday, December 6th. Finally, 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 objective for the company. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $17.50.

UiPath Price Performance

UiPath stock opened at $13.19 on Wednesday. The business has a 50 day moving average of $13.51 and a 200-day moving average of $12.75. The company has a market capitalization of $7.25 billion, a P/E ratio of -82.44 and a beta of 0.96. UiPath has a 1 year low of $10.37 and a 1 year high of $27.87.

Insider Activity at UiPath

In other news, CAO Hitesh Ramani sold 25,000 shares of the stock in a transaction that occurred 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 transaction, the chief accounting officer now owns 269,421 shares in the company, 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Ashim Gupta sold 47,227 shares of the business’s stock in a transaction on Friday, January 3rd. The shares were 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 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 company insiders.

Hedge Funds Weigh In On UiPath

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Future Financial Wealth Managment LLC acquired a new stake in UiPath during the 3rd quarter valued at approximately $26,000. JTC Employer Solutions Trustee Ltd bought a new position in UiPath during the third quarter worth $26,000. Quarry LP lifted 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 buying an additional 2,729 shares during the period. Redwood Wealth Management Group LLC bought a new stake in UiPath during the second quarter valued at $43,000. Finally, Allspring Global Investments Holdings LLC grew its holdings in UiPath by 124.7% during the 3rd 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. 62.50% of the stock is currently owned by institutional investors and hedge funds.

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.