UiPath (NYSE:PATH) Shares Down 1.4% on Insider Selling

UiPath Inc. (NYSE:PATH) traded down 1.4% during trading on Tuesday after an insider sold shares in the company. The stock traded as low as $13.41 and last traded at $13.62. 3,356,341 shares were traded during mid-day trading, a decline of 58% from the average session volume of 8,039,564 shares. The stock had previously closed at $13.81.

Specifically, CFO Ashim Gupta sold 47,227 shares of the 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 transaction, the chief financial officer now directly owns 856,538 shares in the company, valued at $11,186,386.28. This trade represents a 5.23 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Hitesh Ramani sold 25,000 shares of the company’s 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 transaction, the chief accounting officer now owns 269,421 shares in the company, valued at approximately $3,515,944.05. The trade was a 8.49 % decrease in their position. The disclosure for this sale can be found here.

Analyst Ratings Changes

A number of equities analysts have issued reports on PATH shares. Needham & Company LLC reiterated a “hold” rating on shares of UiPath in a research note on Thursday, December 19th. Royal Bank of Canada reissued a “sector perform” rating and issued a $16.00 price target on shares of UiPath in a research report on Friday, December 6th. Morgan Stanley lifted their price objective on shares of UiPath from $15.00 to $16.00 and gave the stock an “equal weight” rating in a report on Friday, December 6th. BMO Capital Markets raised their price target on shares of UiPath from $15.00 to $16.00 and gave the company a “market perform” rating in a research report on Friday, December 6th. Finally, JPMorgan Chase & Co. upped their price objective on shares of 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 assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $17.50.

UiPath Stock Down 1.4 %

The business’s 50-day moving average price is $13.50 and its 200 day moving average price is $12.74. The company has a market capitalization of $7.49 billion, a P/E ratio of -85.13 and a beta of 0.96.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Ontario Teachers Pension Plan Board increased its stake in UiPath by 136.0% in the 3rd quarter. Ontario Teachers Pension Plan Board now owns 108,725 shares of the company’s stock worth $1,392,000 after acquiring an additional 62,650 shares during the last quarter. D.A. Davidson & CO. increased its holdings in shares of UiPath by 60.1% in the 3rd quarter. D.A. Davidson & CO. now owns 557,667 shares of the company’s stock worth $7,138,000 after buying an additional 209,300 shares during the last quarter. Stifel Financial Corp raised its position in shares of UiPath by 30.1% during the 3rd quarter. Stifel Financial Corp now owns 323,818 shares of the company’s stock valued at $4,145,000 after buying an additional 74,959 shares in the last quarter. Senvest Management LLC increased its stake in 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 acquiring an additional 1,559,500 shares during the last quarter. Finally, Quantbot Technologies LP raised its position in UiPath by 667.7% during the third quarter. Quantbot Technologies LP now owns 101,718 shares of the company’s stock valued at $1,302,000 after purchasing an additional 88,468 shares in the last quarter. 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.