UiPath Sees Unusually Large Options Volume (NYSE:PATH)

UiPath Inc. (NYSE:PATH) was the recipient of some unusual options trading activity on Tuesday. Stock traders purchased 32,103 call options on the company. This represents an increase of 69% compared to the typical daily volume of 19,017 call options.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on PATH. Barclays cut their target price on UiPath from $16.00 to $15.00 and set an “equal weight” rating on the stock in a research report on Friday, January 10th. Wells Fargo & Company reduced their price objective on UiPath from $15.00 to $13.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. upped their target price on UiPath from $17.00 to $18.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. Morgan Stanley raised their price target on shares of UiPath from $15.00 to $16.00 and gave the stock an “equal weight” rating in a research report on Friday, December 6th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $16.00 price objective on shares of UiPath in a report on Friday, December 6th. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, UiPath presently has a consensus rating of “Hold” and an average price target of $17.44.

Insider Activity

In related news, CFO Ashim Gupta sold 47,227 shares of the business’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $13.06, for a total transaction of $616,784.62. Following the transaction, the chief financial officer now directly owns 856,538 shares in the company, valued at $11,186,386.28. The trade was a 5.23 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Hitesh Ramani sold 25,000 shares of the 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 completion of the sale, the chief accounting officer now owns 269,421 shares of the company’s stock, valued at approximately $3,515,944.05. This trade represents a 8.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 22.37% of the company’s stock.

Hedge Funds Weigh In On UiPath

Several hedge funds and other institutional investors have recently modified their holdings of the business. Cowa LLC raised its holdings in shares of UiPath by 4.4% during the 3rd quarter. Cowa LLC now owns 26,681 shares of the company’s stock worth $342,000 after acquiring an additional 1,118 shares during the period. Nations Financial Group Inc. IA ADV raised its stake in UiPath by 6.8% during the third 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 period. Amalgamated Bank boosted its holdings in UiPath by 7.1% in the 3rd quarter. Amalgamated Bank now owns 27,312 shares of the company’s stock valued at $350,000 after purchasing an additional 1,811 shares during the last quarter. Thrivent Financial for Lutherans lifted its holdings in UiPath by 10.6% in the third quarter. Thrivent Financial for Lutherans now owns 20,881 shares of the company’s stock valued at $267,000 after acquiring an additional 1,995 shares during the last quarter. Finally, Future Financial Wealth Managment LLC purchased a new stake in UiPath in the third quarter valued at $26,000. 62.50% of the stock is owned by hedge funds and other institutional investors.

UiPath Price Performance

NYSE PATH traded up $1.42 during mid-day trading on Tuesday, hitting $15.18. The stock had a trading volume of 18,131,766 shares, compared to its average volume of 8,787,486. UiPath has a twelve month low of $10.37 and a twelve month high of $27.87. The stock has a market capitalization of $8.34 billion, a price-to-earnings ratio of -94.86 and a beta of 0.96. The firm’s 50 day moving average is $13.65 and its 200 day moving average is $12.83.

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.