UiPath (NYSE:PATH) Shares Up 8.2% – What’s Next?

UiPath Inc. (NYSE:PATH)’s stock price was up 8.2% during trading on Monday . The company traded as high as $14.49 and last traded at $14.37. Approximately 5,506,866 shares traded hands during mid-day trading, a decline of 0% from the average daily volume of 5,534,286 shares. The stock had previously closed at $13.28.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. UBS Group initiated coverage on UiPath in a research report on Thursday, December 12th. They set a “sell” rating and a $14.00 target price on the stock. Royal Bank of Canada restated a “sector perform” rating and issued a $16.00 target price on shares of UiPath in a report on Friday, December 6th. Morgan Stanley increased 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. Wells Fargo & Company lowered their price objective 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. Finally, BMO Capital Markets lifted their target price on UiPath from $15.00 to $16.00 and gave the company a “market perform” rating 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 assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $17.50.

UiPath Price Performance

The stock has a 50-day moving average price of $13.53 and a 200-day moving average price of $12.75. The firm has a market capitalization of $7.38 billion, a PE ratio of -83.94 and a beta of 0.96.

Insiders Place Their Bets

In other news, CAO Hitesh Ramani sold 25,000 shares of the firm’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $13.05, for a total value 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Ashim Gupta sold 47,227 shares of the stock in a transaction dated 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 trade represents a 5.23 % decrease in their position. The disclosure for this sale can be found here. 22.37% of the stock is owned by company insiders.

Institutional Trading of UiPath

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Future Financial Wealth Managment LLC acquired a new position in shares of UiPath during the third quarter worth approximately $26,000. JTC Employer Solutions Trustee Ltd bought a new stake in shares of UiPath during the third quarter valued at about $26,000. Quarry LP lifted its holdings in UiPath by 654.4% in the third quarter. Quarry LP now owns 3,146 shares of the company’s stock worth $40,000 after purchasing an additional 2,729 shares during the period. Redwood Wealth Management Group LLC bought a new position in UiPath in the 2nd quarter valued at about $43,000. Finally, Allspring Global Investments Holdings LLC increased its stake in UiPath by 124.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 4,098 shares of the company’s stock valued at $52,000 after buying an additional 2,274 shares during the period. 62.50% of the stock is currently owned by institutional investors and hedge funds.

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.