UiPath (NYSE:PATH) Shares Up 1.2% – Here’s Why

Shares of UiPath Inc. (NYSE:PATH) were up 1.2% during trading on Monday . The stock traded as high as $14.33 and last traded at $14.09. Approximately 4,058,005 shares were traded during trading, a decline of 47% from the average daily volume of 7,674,029 shares. The stock had previously closed at $13.92.

Wall Street Analyst Weigh In

PATH has been the subject of a number of research reports. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $16.00 price objective on shares of UiPath in a research note on Friday, December 6th. Morgan Stanley raised 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. Barclays decreased their price objective on UiPath from $16.00 to $15.00 and set an “equal weight” rating on the stock in a report on Friday, January 10th. BMO Capital Markets increased their target price on UiPath from $15.00 to $16.00 and gave the company a “market perform” rating in a report on Friday, December 6th. Finally, JPMorgan Chase & Co. lifted their price target on UiPath from $17.00 to $18.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $17.44.

UiPath Stock Performance

The stock has a market cap of $7.91 billion, a P/E ratio of -89.99 and a beta of 0.96. The firm has a 50-day moving average price of $13.70 and a 200-day moving average price of $12.84.

Insider Transactions at UiPath

In other UiPath news, CAO Hitesh Ramani sold 25,000 shares of UiPath stock in a transaction dated Friday, January 3rd. The shares were 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 approximately $3,515,944.05. The trade was a 8.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Ashim Gupta sold 47,227 shares of the company’s stock in a transaction that occurred on Friday, January 3rd. The stock was 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. This represents a 5.23 % decrease in their position. The disclosure for this sale can be found here. Insiders own 22.37% of the company’s stock.

Hedge Funds Weigh In On UiPath

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

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.