UiPath (NYSE:PATH) Stock Price Up 0.7% – Time to Buy?

Shares of UiPath Inc. (NYSE:PATH) were up 0.7% during trading on Wednesday . The company traded as high as $13.46 and last traded at $13.42. Approximately 2,400,212 shares were traded during trading, a decline of 69% from the average daily volume of 7,751,904 shares. The stock had previously closed at $13.33.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. increased their target price 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. Morgan Stanley increased their price target on UiPath from $15.00 to $16.00 and gave the company an “equal weight” rating in a research note on Friday, December 6th. UBS Group began coverage on shares of UiPath in a report on Thursday, December 12th. They issued a “sell” rating and a $14.00 target price for the company. Barclays decreased their price target on UiPath from $16.00 to $15.00 and set an “equal weight” rating for the company in a research note on Friday, January 10th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $16.00 price objective on shares of UiPath in a report 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 stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $17.44.

UiPath Price Performance

The stock has a market cap of $7.40 billion, a PE ratio of -84.09 and a beta of 0.96. The company’s fifty day moving average is $13.57 and its 200-day moving average is $12.79.

Insiders Place Their Bets

In other UiPath news, CAO Hitesh Ramani sold 25,000 shares of the 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 represents a 8.49 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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 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 owned by company insiders.

Hedge Funds Weigh In On UiPath

Several institutional investors and hedge funds have recently added to or reduced their stakes in PATH. Pacer Advisors Inc. lifted its stake in UiPath by 698.1% in the 4th quarter. Pacer Advisors Inc. now owns 289,471 shares of the company’s stock valued at $3,679,000 after buying an additional 253,203 shares in the last quarter. Archford Capital Strategies LLC grew its stake in UiPath by 112.0% in the 4th quarter. Archford Capital Strategies LLC now owns 58,624 shares of the company’s stock worth $745,000 after acquiring an additional 30,973 shares during the period. Juncture Wealth Strategies LLC purchased a new position in UiPath during the fourth quarter worth approximately $137,000. SG Americas Securities LLC boosted its holdings in UiPath by 76.0% in the fourth quarter. SG Americas Securities LLC now owns 236,887 shares of the company’s stock valued at $3,011,000 after acquiring an additional 102,258 shares during the last quarter. Finally, Merit Financial Group LLC increased its position in UiPath by 183.0% during the 4th quarter. Merit Financial Group LLC now owns 49,105 shares of the company’s stock worth $624,000 after purchasing an additional 31,755 shares in the last quarter. Institutional investors and hedge funds 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.