UiPath (NYSE:PATH) Trading Up 0.6% – Here’s Why

UiPath Inc. (NYSE:PATH)’s stock price was up 0.6% during trading on Wednesday . The company traded as high as $13.14 and last traded at $13.13. Approximately 2,583,517 shares traded hands during mid-day trading, a decline of 73% from the average daily volume of 9,650,370 shares. The stock had previously closed at $13.05.

Analyst Ratings Changes

A number of research firms have weighed in on PATH. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $16.00 price objective on shares of UiPath in a research note on Friday, December 6th. BMO Capital Markets lifted their price target on shares of UiPath from $15.00 to $16.00 and gave the stock a “market perform” rating in a research note on Friday, December 6th. Barclays boosted their price objective on shares of UiPath from $15.00 to $16.00 and gave the company an “equal weight” rating in a research report on Friday, December 6th. TD Cowen dropped their target price on shares of UiPath from $17.00 to $16.00 and set a “hold” rating on the stock in a report on Friday, September 6th. Finally, JPMorgan Chase & Co. upped their price target on shares of UiPath from $17.00 to $18.00 and gave the stock an “overweight” rating in a research note 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 MarketBeat, the company currently has an average rating of “Hold” and an average price target of $17.50.

UiPath Price Performance

The firm has a market capitalization of $7.22 billion, a P/E ratio of -82.06 and a beta of 0.94. The firm has a 50-day moving average price of $13.43 and a two-hundred day moving average price of $12.64.

Institutional Trading of UiPath

Several institutional investors and hedge funds have recently made changes to their positions in PATH. Ontario Teachers Pension Plan Board raised its holdings in shares of UiPath by 136.0% in the third quarter. Ontario Teachers Pension Plan Board now owns 108,725 shares of the company’s stock valued at $1,392,000 after acquiring an additional 62,650 shares in the last quarter. D.A. Davidson & CO. boosted its position in UiPath by 60.1% in the third quarter. D.A. Davidson & CO. now owns 557,667 shares of the company’s stock valued at $7,138,000 after buying an additional 209,300 shares during the last quarter. Stifel Financial Corp boosted its position in UiPath by 30.1% in the 3rd quarter. Stifel Financial Corp now owns 323,818 shares of the company’s stock worth $4,145,000 after purchasing an additional 74,959 shares in the last quarter. Senvest Management LLC boosted its position in UiPath by 16.7% in the 3rd quarter. Senvest Management LLC now owns 10,894,483 shares of the company’s stock worth $139,449,000 after purchasing an additional 1,559,500 shares in the last quarter. Finally, Quantbot Technologies LP boosted its position in UiPath by 667.7% in the 3rd quarter. Quantbot Technologies LP now owns 101,718 shares of the company’s stock worth $1,302,000 after purchasing an additional 88,468 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.