UiPath (NYSE:PATH) Trading 1.7% Higher – Here’s Why

UiPath Inc. (NYSE:PATH) shares traded up 1.7% on Thursday . The stock traded as high as $13.54 and last traded at $13.43. 8,644,720 shares traded hands during trading, a decline of 10% from the average session volume of 9,625,994 shares. The stock had previously closed at $13.20.

Wall Street Analysts Forecast Growth

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 for the company in a research note on Wednesday, October 23rd. Barclays raised their price target 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. UBS Group assumed coverage on shares of UiPath in a research note on Thursday, December 12th. They set a “sell” rating and a $14.00 price target for the company. JPMorgan Chase & Co. raised their price target on shares of UiPath from $17.00 to $18.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. Finally, Morgan Stanley raised their target price on shares of UiPath from $15.00 to $16.00 and gave the company an “equal weight” rating in a research note on Friday, December 6th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $17.50.

UiPath Trading Up 1.7 %

The business’s 50 day moving average price is $13.53 and its two-hundred day moving average price is $12.75. The company has a market capitalization of $7.38 billion, a price-to-earnings ratio of -83.94 and a beta of 0.96.

Insider Activity

In related news, CAO Hitesh Ramani sold 25,000 shares of UiPath stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $13.05, for a total transaction of $326,250.00. Following the sale, the chief accounting officer now directly owns 269,421 shares in the company, valued at $3,515,944.05. This trade represents a 8.49 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Ashim Gupta sold 47,227 shares of UiPath 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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. 22.37% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Cowa LLC raised its holdings in UiPath by 4.4% during the 3rd quarter. Cowa LLC now owns 26,681 shares of the company’s stock worth $342,000 after purchasing an additional 1,118 shares during the last quarter. Nations Financial Group Inc. IA ADV increased its stake in shares of UiPath by 6.8% in the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 26,090 shares of the company’s stock valued at $334,000 after acquiring an additional 1,654 shares in the last quarter. Amalgamated Bank increased its stake in shares of UiPath by 7.1% in the 3rd quarter. Amalgamated Bank now owns 27,312 shares of the company’s stock valued at $350,000 after acquiring an additional 1,811 shares in the last quarter. Thrivent Financial for Lutherans increased its stake in shares of UiPath by 10.6% in the 3rd quarter. Thrivent Financial for Lutherans now owns 20,881 shares of the company’s stock valued at $267,000 after acquiring an additional 1,995 shares in the last quarter. Finally, Future Financial Wealth Managment LLC bought a new stake in shares of UiPath in the 3rd quarter valued at $26,000. Institutional investors own 62.50% of the company’s stock.

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.