Insider Selling: UiPath, Inc. (NYSE:PATH) CEO Sells $575,100.00 in Stock

UiPath, Inc. (NYSE:PATH) CEO Daniel Dines sold 45,000 shares of the stock in a transaction dated Monday, June 30th. The stock was sold at an average price of $12.78, for a total transaction of $575,100.00. Following the transaction, the chief executive officer owned 5,553,376 shares in the company, valued at approximately $70,972,145.28. The trade was a 0.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Daniel Dines also recently made the following trade(s):

• On Wednesday, July 2nd, Daniel Dines sold 45,000 shares of UiPath stock. The stock was sold at an average price of $12.54, for a total transaction of $564,300.00.
• On Friday, June 27th, Daniel Dines sold 45,000 shares of UiPath stock. The shares were sold at an average price of $12.78, for a total transaction of $575,100.00.
• On Wednesday, June 25th, Daniel Dines sold 45,000 shares of UiPath stock. The shares were sold at an average price of $12.55, for a total transaction of $564,750.00.
• On Monday, June 23rd, Daniel Dines sold 45,000 shares of UiPath stock. The shares were sold at an average price of $12.10, for a total transaction of $544,500.00.

UiPath Stock Up 1.3%

PATH stock opened at $12.85 on Thursday. UiPath, Inc. has a 52 week low of $9.38 and a 52 week high of $15.93. The stock has a market capitalization of $6.88 billion, a PE ratio of -107.07, a price-to-earnings-growth ratio of 16.62 and a beta of 1.04. The firm has a 50 day moving average of $12.53 and a 200 day moving average of $12.48.

UiPath (NYSE:PATH) last posted its quarterly earnings results on Thursday, May 29th. The company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.01. UiPath had a negative net margin of 4.65% and a negative return on equity of 3.05%. The company had revenue of $356.62 million during the quarter, compared to analyst estimates of $332.17 million. During the same period last year, the firm posted $0.13 EPS. UiPath’s revenue for the quarter was up 6.4% compared to the same quarter last year. On average, equities research analysts expect that UiPath, Inc. will post -0.17 earnings per share for the current year.

Hedge Funds Weigh In On UiPath

A number of institutional investors have recently bought and sold shares of PATH. Smartleaf Asset Management LLC raised its position in UiPath by 88.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,454 shares of the company’s stock worth $31,000 after buying an additional 1,152 shares during the last quarter. Versant Capital Management Inc raised its position in UiPath by 198.6% during the 1st quarter. Versant Capital Management Inc now owns 2,962 shares of the company’s stock worth $31,000 after buying an additional 1,970 shares during the last quarter. CX Institutional purchased a new position in UiPath during the 1st quarter worth approximately $36,000. EverSource Wealth Advisors LLC raised its position in UiPath by 141.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 2,974 shares of the company’s stock worth $38,000 after buying an additional 1,742 shares during the last quarter. Finally, Brooklyn Investment Group raised its position in UiPath by 314.3% during the 1st quarter. Brooklyn Investment Group now owns 4,508 shares of the company’s stock worth $46,000 after buying an additional 3,420 shares during the last quarter. 62.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on PATH shares. Mizuho lowered their price target on shares of UiPath from $12.00 to $11.00 and set a “neutral” rating on the stock in a report on Tuesday, April 15th. Royal Bank Of Canada raised their price target on shares of UiPath from $13.00 to $15.00 and gave the company a “sector perform” rating in a report on Friday, May 30th. Wells Fargo & Company restated an “equal weight” rating on shares of UiPath in a report on Friday, May 30th. Evercore ISI raised their price target on shares of UiPath from $11.00 to $15.00 and gave the company an “in-line” rating in a report on Friday, May 30th. Finally, Truist Financial raised their price target on shares of UiPath from $12.00 to $13.00 and gave the company a “hold” rating in a report on Friday, May 30th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $13.83.

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.