UiPath (NYSE:PATH) Shares Up 1.7% – Still a Buy?

Shares of UiPath Inc. (NYSE:PATH) traded up 1.7% during trading on Thursday . The company traded as high as $13.54 and last traded at $13.43. 8,644,720 shares were traded during mid-day trading, a decline of 10% from the average session volume of 9,625,994 shares. The stock had previously closed at $13.20.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Barclays lowered their target price on shares of UiPath from $16.00 to $15.00 and set an “equal weight” rating for the company in a research note on Friday. UBS Group assumed coverage on shares of UiPath in a research note on Thursday, December 12th. They issued a “sell” rating and a $14.00 target price for the company. Morgan Stanley lifted their target price 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 target price 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 raised their price target on shares of UiPath from $15.00 to $16.00 and gave the stock a “market perform” rating in a research report on Friday, December 6th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $17.44.

UiPath Trading Down 3.4 %

The stock has a market capitalization of $7.13 billion, a PE ratio of -81.06 and a beta of 0.96. The firm’s fifty day moving average price is $13.56 and its two-hundred day moving average price is $12.76.

Insider Activity

In related news, CFO Ashim Gupta sold 47,227 shares of UiPath 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 sale, the chief financial officer now owns 856,538 shares of the company’s stock, valued at approximately $11,186,386.28. This trade represents a 5.23 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Hitesh Ramani sold 25,000 shares of UiPath stock in a transaction 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 completion of 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 disclosure for this sale can be found here. Insiders own 22.37% of the company’s stock.

Institutional Investors Weigh In On UiPath

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Cowa LLC boosted its stake in UiPath by 4.4% during the 3rd quarter. Cowa LLC now owns 26,681 shares of the company’s stock worth $342,000 after purchasing an additional 1,118 shares during the last quarter. Nations Financial Group Inc. IA ADV boosted its stake in UiPath by 6.8% during the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 26,090 shares of the company’s stock worth $334,000 after purchasing an additional 1,654 shares during the last quarter. Amalgamated Bank boosted its stake in UiPath by 7.1% during the 3rd quarter. Amalgamated Bank now owns 27,312 shares of the company’s stock worth $350,000 after purchasing an additional 1,811 shares during the last quarter. Thrivent Financial for Lutherans boosted its stake in UiPath by 10.6% during the 3rd 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 acquired a new position in shares of UiPath during the 3rd quarter valued at about $26,000. Institutional investors and hedge funds own 62.50% of the company’s stock.

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.