UiPath (NYSE:PATH) Shares Up 0.7% – Here’s What Happened

UiPath Inc. (NYSE:PATH) shares shot up 0.7% during trading on Wednesday . The company traded as high as $13.46 and last traded at $13.42. 2,400,212 shares were traded during mid-day trading, a decline of 69% from the average session volume of 7,751,904 shares. The stock had previously closed at $13.33.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on PATH shares. Wells Fargo & Company cut their price objective on UiPath from $15.00 to $13.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 23rd. Needham & Company LLC reiterated a “hold” rating on shares of UiPath in a report on Wednesday, January 15th. UBS Group began coverage on UiPath in a research note on Thursday, December 12th. They set a “sell” rating and a $14.00 price objective for the company. JPMorgan Chase & Co. boosted their target price 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. Finally, 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 note on Friday, January 10th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $17.44.

UiPath Price Performance

The company has a market capitalization of $7.40 billion, a PE ratio of -84.09 and a beta of 0.96. The business has a 50-day moving average of $13.57 and a 200 day moving average of $12.79.

Insider Buying and Selling

In related news, CAO Hitesh Ramani sold 25,000 shares of the business’s 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 sale, the chief accounting officer now directly owns 269,421 shares in the company, valued at approximately $3,515,944.05. The trade was a 8.49 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Ashim Gupta sold 47,227 shares of the 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 completion of the sale, the chief financial officer now owns 856,538 shares in the company, valued at approximately $11,186,386.28. The trade was 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 owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of PATH. Future Financial Wealth Managment LLC acquired a new position in shares of UiPath during the third quarter worth $26,000. JTC Employer Solutions Trustee Ltd acquired a new stake in UiPath in the third quarter worth approximately $26,000. Quarry LP raised its stake in shares of UiPath by 654.4% in 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 in the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of UiPath by 124.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 4,098 shares of the company’s stock valued at $52,000 after purchasing an additional 2,274 shares in the last quarter. Finally, True Wealth Design LLC boosted its stake in shares of UiPath by 21,710.0% during the 3rd quarter. True Wealth Design LLC now owns 4,362 shares of the company’s stock worth $56,000 after acquiring an additional 4,342 shares in the last quarter. 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.