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

UiPath Inc. (NYSE:PATH)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $13.28, but opened at $13.98. UiPath shares last traded at $14.12, with a volume of 2,573,795 shares.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. BMO Capital Markets raised their price objective on UiPath from $15.00 to $16.00 and gave the company a “market perform” rating in a report on Friday, December 6th. JPMorgan Chase & Co. boosted their price target on UiPath from $17.00 to $18.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $16.00 price objective on shares of UiPath in a report on Friday, December 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of UiPath in a research note on Thursday, December 19th. Finally, Barclays boosted their price objective 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. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $17.50.

UiPath Stock Up 1.7 %

The stock has a market capitalization of $7.38 billion, a P/E ratio of -83.94 and a beta of 0.96. The firm’s 50 day simple moving average is $13.51 and its two-hundred day simple moving average is $12.75.

Insider Transactions at UiPath

In other UiPath news, CAO Hitesh Ramani sold 25,000 shares of the firm’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 directly owns 269,421 shares in the company, valued at approximately $3,515,944.05. This trade represents a 8.49 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Ashim Gupta sold 47,227 shares of the company’s stock in a transaction 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 sale, the chief financial officer now owns 856,538 shares of the company’s stock, valued at approximately $11,186,386.28. The trade was a 5.23 % decrease in their position. The disclosure for this sale can be found here. 22.37% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

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