Traders Buy Large Volume of Call Options on UiPath (NYSE:PATH)

UiPath Inc. (NYSE:PATH) was the target of unusually large options trading on Tuesday. Investors bought 32,103 call options on the company. This is an increase of 69% compared to the average daily volume of 19,017 call options.

Analyst Upgrades and Downgrades

PATH has been the topic of a number of analyst reports. UBS Group assumed coverage on UiPath in a research note on Thursday, December 12th. They set a “sell” rating and a $14.00 price objective on the stock. BMO Capital Markets upped 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. Wells Fargo & Company decreased their price objective on UiPath from $15.00 to $13.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 23rd. JPMorgan Chase & Co. upped their price objective on UiPath from $17.00 to $18.00 and gave the company an “overweight” rating in a report on Friday, December 6th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $16.00 target price on shares of UiPath in a report on Friday, December 6th. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $17.44.

UiPath Stock Down 5.2 %

Shares of NYSE:PATH opened at $14.40 on Thursday. The stock has a market cap of $7.91 billion, a price-to-earnings ratio of -89.99 and a beta of 0.96. UiPath has a 12-month low of $10.37 and a 12-month high of $27.87. The business’s 50 day moving average is $13.73 and its 200 day moving average is $12.86.

Insider Buying and Selling

In related news, CAO Hitesh Ramani sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, January 3rd. The stock was 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 directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Ashim Gupta sold 47,227 shares of the business’s stock in a transaction on Friday, January 3rd. The shares were 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 directly owns 856,538 shares in the company, valued at $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 insiders.

Institutional Trading of UiPath

Hedge funds have recently bought and sold shares of the business. Future Financial Wealth Managment LLC bought a new stake in shares of UiPath in the third quarter valued at $26,000. JTC Employer Solutions Trustee Ltd purchased a new position in shares of UiPath in the third quarter valued at $26,000. Quarry LP grew its position in shares of UiPath by 654.4% in the third quarter. Quarry LP now owns 3,146 shares of the company’s stock valued at $40,000 after purchasing an additional 2,729 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in UiPath by 124.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 4,098 shares of the company’s stock worth $52,000 after buying an additional 2,274 shares in the last quarter. Finally, True Wealth Design LLC grew its position in UiPath by 21,710.0% during the third quarter. True Wealth Design LLC now owns 4,362 shares of the company’s stock worth $56,000 after buying an additional 4,342 shares in the last quarter. 62.50% of the stock is currently owned by 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.