UiPath (NYSE:PATH) Trading Up 0.7% – Should You Buy?

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

Analyst Upgrades and Downgrades

A number of equities analysts have commented on PATH shares. Barclays reduced their target price on shares of UiPath from $16.00 to $15.00 and set an “equal weight” rating for the company in a report on Friday, January 10th. JPMorgan Chase & Co. boosted their price objective 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. BMO Capital Markets raised their target price on shares of UiPath from $15.00 to $16.00 and gave the company a “market perform” rating in a research note on Friday, December 6th. Morgan Stanley upped their price target on UiPath from $15.00 to $16.00 and gave the stock an “equal weight” rating in a research report on Friday, December 6th. Finally, UBS Group began coverage on UiPath in a research report on Thursday, December 12th. They issued a “sell” rating and a $14.00 price objective for the company. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $17.44.

UiPath Trading Up 0.9 %

The business’s 50-day simple moving average is $13.59 and its 200-day simple moving average is $12.80. The company has a market capitalization of $7.65 billion, a PE ratio of -86.97 and a beta of 0.96.

Insider Buying and Selling

In other news, CAO Hitesh Ramani sold 25,000 shares of the company’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $13.05, for a total value of $326,250.00. Following the sale, the chief accounting officer now owns 269,421 shares in the company, valued at $3,515,944.05. This represents a 8.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Ashim Gupta sold 47,227 shares of UiPath stock in a transaction that occurred 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 transaction, the chief financial officer now owns 856,538 shares of the company’s stock, 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.

Hedge Funds Weigh In On UiPath

Large investors have recently made changes to their positions in the company. Future Financial Wealth Managment LLC purchased a new position in UiPath in the third quarter valued at $26,000. JTC Employer Solutions Trustee Ltd acquired a new stake in shares of UiPath during the 3rd quarter valued at about $26,000. Quarry LP increased 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 valued at $40,000 after purchasing an additional 2,729 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in UiPath by 124.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 4,098 shares of the company’s stock worth $52,000 after purchasing an additional 2,274 shares during the period. Finally, True Wealth Design LLC boosted its position in UiPath by 21,710.0% during the third quarter. True Wealth Design LLC now owns 4,362 shares of the company’s stock worth $56,000 after purchasing an additional 4,342 shares in the last quarter. 62.50% of the stock is currently owned by institutional investors and hedge funds.

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.