UiPath (NYSE:PATH) Trading 0.6% Higher – What’s Next?

UiPath Inc. (NYSE:PATH) rose 0.6% during trading on Thursday . The company traded as high as $13.62 and last traded at $13.53. Approximately 1,283,209 shares changed hands during mid-day trading, a decline of 83% from the average daily volume of 7,747,013 shares. The stock had previously closed at $13.45.

Wall Street Analyst Weigh In

PATH has been the subject of several recent analyst reports. UBS Group started coverage on shares of UiPath in a research report on Thursday, December 12th. They set a “sell” rating and a $14.00 price objective for the company. Needham & Company LLC reaffirmed a “hold” rating on shares of UiPath in a report on Wednesday, January 15th. Wells Fargo & Company decreased their price objective on shares of UiPath from $15.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 23rd. Morgan Stanley upped their target price on UiPath from $15.00 to $16.00 and gave the stock an “equal weight” rating in a research note on Friday, December 6th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $16.00 price target on shares of UiPath in a research note on Friday, December 6th. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, UiPath has an average rating of “Hold” and a consensus price target of $17.44.

UiPath Price Performance

The company has a market cap of $7.65 billion, a price-to-earnings ratio of -86.97 and a beta of 0.96. The business’s fifty day moving average price is $13.62 and its 200 day moving average price is $12.81.

Insiders Place Their Bets

In other news, CAO Hitesh Ramani sold 25,000 shares of the company’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $13.05, for a total value of $326,250.00. Following the sale, the chief accounting officer now directly owns 269,421 shares of the company’s stock, valued at approximately $3,515,944.05. This represents a 8.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Ashim Gupta sold 47,227 shares of the business’s stock in a transaction that occurred 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 directly owns 856,538 shares in the company, valued at approximately $11,186,386.28. This trade represents a 5.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 22.37% of the company’s stock.

Hedge Funds Weigh In On UiPath

Large investors have recently modified their holdings of the company. Jacobs Levy Equity Management Inc. boosted its position in UiPath by 554.8% in the third quarter. Jacobs Levy Equity Management Inc. now owns 4,026,502 shares of the company’s stock worth $51,539,000 after purchasing an additional 3,411,562 shares during the last quarter. Senvest Management LLC grew its position in UiPath by 16.7% during the third quarter. Senvest Management LLC now owns 10,894,483 shares of the company’s stock valued at $139,449,000 after buying an additional 1,559,500 shares during the period. Worldquant Millennium Advisors LLC purchased a new stake in UiPath during the third quarter worth about $19,071,000. AQR Capital Management LLC raised its position in UiPath by 120.6% in the second quarter. AQR Capital Management LLC now owns 1,633,393 shares of the company’s stock worth $20,385,000 after acquiring an additional 892,845 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in UiPath by 37.2% during the second quarter. Dimensional Fund Advisors LP now owns 2,783,571 shares of the company’s stock valued at $35,296,000 after purchasing an additional 754,519 shares during the period. 62.50% of the stock is currently owned by institutional investors.

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.