UiPath (NYSE:PATH) CEO Daniel Dines Sells 1,250,000 Shares of Stock

UiPath, Inc. (NYSE:PATH) CEO Daniel Dines sold 1,250,000 shares of UiPath stock in a transaction dated Thursday, October 15th. The shares were sold at an average price of $13.44, for a total value of $16,800,000.00. Following the completion of the sale, the chief executive officer owned 30,241,238 shares of the company’s stock, valued at $406,442,238.72. The trade was a 3.97% decrease in their ownership of the stock. The transaction 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, August 19th, Daniel Dines sold 1,402,347 shares of UiPath stock. The shares were sold at an average price of $16.07, for a total value of $22,535,716.29.

UiPath Price Performance

UiPath stock traded up $0.27 during trading hours on Monday, reaching $13.12. The stock had a trading volume of 22,140,768 shares, compared to its average volume of 45,635,316. The company has a market cap of $6.83 billion, a price-to-earnings ratio of 19.57, a PEG ratio of 1.21 and a beta of 1.01. The business’s 50 day moving average price is $14.70 and its 200-day moving average price is $12.39. UiPath, Inc. has a 52 week low of $9.20 and a 52 week high of $19.84.

UiPath (NYSE:PATH) last announced its earnings results on Thursday, September 3rd. The company reported $0.15 earnings per share for the quarter, hitting the consensus estimate of $0.15. The firm had revenue of $410.26 million for the quarter, compared to the consensus estimate of $397.77 million. UiPath had a return on equity of 9.70% and a net margin of 21.03%. The firm’s revenue for the quarter was up 13.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.15 EPS. On average, sell-side analysts forecast that UiPath, Inc. will post 0.49 EPS for the current fiscal year.

Institutional Investors Weigh In On UiPath

Several institutional investors have recently modified their holdings of PATH. BlackRock Inc. raised its position in UiPath by 7.2% during the second quarter. BlackRock Inc. now owns 46,153,124 shares of the company’s stock valued at $501,684,000 after acquiring an additional 3,097,822 shares in the last quarter. State Street Corp raised its holdings in shares of UiPath by 3.6% during the 2nd quarter. State Street Corp now owns 13,832,188 shares of the company’s stock valued at $150,356,000 after purchasing an additional 486,007 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of UiPath by 13.2% during the 1st quarter. Bank of America Corp DE now owns 10,046,699 shares of the company’s stock valued at $111,518,000 after purchasing an additional 1,170,285 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of UiPath by 26.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 6,831,288 shares of the company’s stock valued at $75,818,000 after purchasing an additional 1,437,843 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of UiPath by 0.3% in the 1st quarter. Bank of New York Mellon Corp now owns 3,097,596 shares of the company’s stock valued at $34,383,000 after purchasing an additional 9,884 shares during the last quarter. 62.50% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. TD Cowen reiterated a “hold” rating and set a $16.00 price objective on shares of UiPath in a research report on Wednesday, September 23rd. Wells Fargo & Company boosted their price objective on UiPath from $13.00 to $15.00 and gave the stock an “equal weight” rating in a research note on Friday, September 4th. Mizuho upped their target price on UiPath from $12.00 to $14.00 and gave the company a “neutral” rating in a report on Friday, September 4th. BMO Capital Markets cut their target price on UiPath from $18.00 to $15.00 and set a “market perform” rating for the company in a research note on Thursday, September 24th. Finally, Citigroup started coverage on UiPath in a report on Tuesday, September 8th. They set a “buy” rating and a $23.00 price target on the stock. Four investment analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $15.69.

UiPath Company Profile

UiPath, Inc develops enterprise automation software that helps organizations automate repetitive, rules-based and increasingly complex business processes. Its platform combines robotic process automation with artificial intelligence, workflow orchestration, process mining, document processing and application integration capabilities.

The company’s products are designed to support the discovery, development, deployment and management of software robots and AI-powered automations across functions such as finance, customer service, human resources, information technology and operations.