UiPath (NYSE:PATH) Shares Up 2.6% – Here’s What Happened

UiPath Inc. (NYSE:PATH)’s stock price was up 2.6% during mid-day trading on Tuesday . The stock traded as high as $13.29 and last traded at $13.16. Approximately 1,579,685 shares traded hands during mid-day trading, a decline of 81% from the average daily volume of 8,153,080 shares. The stock had previously closed at $12.83.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on PATH shares. Morgan Stanley lifted their target price on UiPath from $15.00 to $16.00 and gave the stock an “equal weight” rating in a report on Friday, December 6th. Barclays dropped their price target 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, January 10th. Royal Bank of Canada reissued a “sector perform” rating and issued a $16.00 price objective on shares of UiPath in a research report on Friday, December 6th. Wells Fargo & Company dropped their target price on UiPath from $15.00 to $13.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 23rd. Finally, Needham & Company LLC reiterated a “hold” rating on shares of UiPath in a report on Wednesday. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $17.44.

UiPath Price Performance

The firm has a fifty day moving average of $13.59 and a two-hundred day moving average of $12.78. The stock has a market capitalization of $7.36 billion, a P/E ratio of -83.66 and a beta of 0.96.

Insider Buying and Selling at UiPath

In related news, CAO Hitesh Ramani sold 25,000 shares of the firm’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $13.05, for a total transaction of $326,250.00. Following the sale, the chief accounting officer now owns 269,421 shares of the company’s stock, valued at $3,515,944.05. This trade represents a 8.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Ashim Gupta sold 47,227 shares of UiPath stock in a transaction dated 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 owns 856,538 shares in the company, valued at $11,186,386.28. This trade represents a 5.23 % decrease in their position. The disclosure for this sale can be found here. Insiders own 22.37% of the company’s stock.

Institutional Trading of UiPath

A number of institutional investors have recently modified their holdings of the company. Merit Financial Group LLC increased its position in shares of UiPath by 183.0% during the fourth quarter. Merit Financial Group LLC now owns 49,105 shares of the company’s stock worth $624,000 after purchasing an additional 31,755 shares in the last quarter. Avanza Fonder AB acquired a new position in UiPath during the 4th quarter valued at about $816,000. 180 Wealth Advisors LLC raised its stake in UiPath by 4.0% in the fourth quarter. 180 Wealth Advisors LLC now owns 485,354 shares of the company’s stock valued at $6,169,000 after buying an additional 18,493 shares during the last quarter. Pallas Capital Advisors LLC boosted its holdings in UiPath by 9.7% in the fourth quarter. Pallas Capital Advisors LLC now owns 64,109 shares of the company’s stock worth $815,000 after acquiring an additional 5,661 shares in the last quarter. Finally, Claro Advisors LLC acquired a new stake in UiPath in the fourth quarter worth about $142,000. 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.