UiPath (NYSE:PATH) Shares Gap Up – Should You Buy?

Shares of UiPath Inc. (NYSE:PATH) gapped up prior to trading on Monday . The stock had previously closed at $13.28, but opened at $13.98. UiPath shares last traded at $14.12, with a volume of 2,573,795 shares trading hands.

Analyst Ratings Changes

A number of equities analysts have recently commented on PATH shares. Wells Fargo & Company reduced 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. Royal Bank of Canada restated a “sector perform” rating and issued a $16.00 price target on shares of UiPath in a research note on Friday, December 6th. UBS Group assumed coverage on UiPath in a research note on Thursday, December 12th. They set a “sell” rating and a $14.00 price objective on the stock. Barclays raised their target price on shares of UiPath from $15.00 to $16.00 and gave the company an “equal weight” rating in a research note on Friday, December 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 report on Friday, December 6th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $17.50.

UiPath Trading Up 1.7 %

The company has a 50 day moving average of $13.51 and a 200-day moving average of $12.75. The firm has a market capitalization of $7.38 billion, a P/E ratio of -83.94 and a beta of 0.96.

Insider Activity at UiPath

In related news, CAO Hitesh Ramani sold 25,000 shares of the company’s stock in a transaction dated 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 owns 269,421 shares of the company’s stock, valued at $3,515,944.05. This represents a 8.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Ashim Gupta sold 47,227 shares of the firm’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $13.06, for a total transaction of $616,784.62. Following the completion of the transaction, the chief financial officer now directly owns 856,538 shares in the company, valued at approximately $11,186,386.28. This represents a 5.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 22.37% of the stock is currently owned by corporate insiders.

Institutional Trading of UiPath

Institutional investors and hedge funds have recently made changes to their positions in the company. Future Financial Wealth Managment LLC acquired a new position in UiPath during the third quarter valued at approximately $26,000. JTC Employer Solutions Trustee Ltd acquired a new position in shares of UiPath during the 3rd quarter worth $26,000. Quarry LP lifted its position in shares of UiPath by 654.4% during the 3rd quarter. Quarry LP now owns 3,146 shares of the company’s stock worth $40,000 after buying an additional 2,729 shares during the last quarter. Redwood Wealth Management Group LLC acquired a new stake in UiPath in the second quarter valued at about $43,000. Finally, Allspring Global Investments Holdings LLC boosted its stake in UiPath by 124.7% in the third 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 in the last quarter. Institutional investors own 62.50% of the company’s stock.

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.