UiPath (NYSE:PATH) Trading Up 7.7% – Here’s What Happened

UiPath Inc. (NYSE:PATH)’s stock price traded up 7.7% during trading on Tuesday . The company traded as high as $14.93 and last traded at $14.82. 5,458,836 shares were traded during trading, a decline of 31% from the average session volume of 7,881,635 shares. The stock had previously closed at $13.76.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on PATH. Morgan Stanley increased their price objective on UiPath from $15.00 to $16.00 and gave the company an “equal weight” rating in a report on Friday, December 6th. Royal Bank of Canada reissued a “sector perform” rating and issued a $16.00 price target on shares of UiPath in a report on Friday, December 6th. Barclays lowered their price target on UiPath from $16.00 to $15.00 and set an “equal weight” rating for the company in a report on Friday, January 10th. Wells Fargo & Company lowered their price target on UiPath from $15.00 to $13.00 and set an “equal weight” rating for the company in a report on Wednesday, October 23rd. Finally, UBS Group initiated coverage on UiPath in a report on Thursday, December 12th. They issued a “sell” rating and a $14.00 price target for the company. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $17.44.

UiPath Trading Up 1.2 %

The business has a 50 day moving average of $13.73 and a 200-day moving average of $12.86. The stock has a market cap of $8.01 billion, a PE ratio of -91.09 and a beta of 0.96.

Insider Buying and Selling at UiPath

In other news, CAO Hitesh Ramani sold 25,000 shares of the 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 owns 269,421 shares in the company, valued at $3,515,944.05. This trade represents a 8.49 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Ashim Gupta sold 47,227 shares of the firm’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 transaction, the chief financial officer now owns 856,538 shares of the company’s stock, 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. 22.37% of the stock is owned by company insiders.

Institutional Trading of UiPath

Several large investors have recently modified their holdings of the business. Dimensional Fund Advisors LP raised its position in shares of UiPath by 37.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,783,571 shares of the company’s stock worth $35,296,000 after buying an additional 754,519 shares during the period. Mercer Global Advisors Inc. ADV purchased a new stake in UiPath during the 2nd quarter worth $164,000. Sei Investments Co. lifted its position in UiPath by 13.8% during the 2nd quarter. Sei Investments Co. now owns 78,531 shares of the company’s stock worth $996,000 after acquiring an additional 9,515 shares in the last quarter. AXA S.A. increased its stake in UiPath by 89.9% during the 2nd quarter. AXA S.A. now owns 53,016 shares of the company’s stock worth $672,000 after buying an additional 25,094 shares during the period. Finally, APG Asset Management N.V. increased its stake in UiPath by 171.2% during the 2nd quarter. APG Asset Management N.V. now owns 57,500 shares of the company’s stock worth $680,000 after buying an additional 36,300 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.