UiPath (NYSE:PATH) Shares Up 1.2% – What’s Next?

UiPath Inc. (NYSE:PATH)’s share price was up 1.2% on Monday . The stock traded as high as $14.33 and last traded at $14.09. Approximately 4,058,005 shares changed hands during trading, a decline of 47% from the average daily volume of 7,674,029 shares. The stock had previously closed at $13.92.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on PATH. UBS Group assumed coverage on UiPath in a research note on Thursday, December 12th. They issued a “sell” rating and a $14.00 price objective for the company. Barclays reduced their price target on UiPath from $16.00 to $15.00 and set an “equal weight” rating for the company in a research report on Friday, January 10th. JPMorgan Chase & Co. boosted their price objective on UiPath from $17.00 to $18.00 and gave the company 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 stock a “market perform” rating in a research note on Friday, December 6th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $16.00 price target on shares of UiPath in a research report on Friday, December 6th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $17.44.

UiPath Price Performance

The business has a 50-day moving average of $13.70 and a 200 day moving average of $12.84. The company has a market capitalization of $7.91 billion, a PE ratio of -89.99 and a beta of 0.96.

Insider Transactions at UiPath

In other UiPath news, CAO Hitesh Ramani sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $13.05, for a total transaction of $326,250.00. Following the sale, the chief accounting officer now directly owns 269,421 shares of the company’s stock, valued at $3,515,944.05. The trade was a 8.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Ashim Gupta sold 47,227 shares of the firm’s 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 completion of the sale, the chief financial officer now directly owns 856,538 shares of the company’s stock, valued at $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. Insiders own 22.37% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP grew its stake in shares of UiPath by 37.2% during the second quarter. Dimensional Fund Advisors LP now owns 2,783,571 shares of the company’s stock valued at $35,296,000 after buying an additional 754,519 shares during the last quarter. Mercer Global Advisors Inc. ADV bought a new position in UiPath in the 2nd quarter valued at $164,000. Sei Investments Co. increased its stake in UiPath by 13.8% in the second quarter. Sei Investments Co. now owns 78,531 shares of the company’s stock worth $996,000 after purchasing an additional 9,515 shares during the period. Toronto Dominion Bank lifted its position in shares of UiPath by 15.4% during the second quarter. Toronto Dominion Bank now owns 42,654 shares of the company’s stock worth $541,000 after purchasing an additional 5,704 shares during the last quarter. Finally, AXA S.A. boosted its stake in shares of UiPath by 89.9% during the second quarter. AXA S.A. now owns 53,016 shares of the company’s stock valued at $672,000 after purchasing an additional 25,094 shares during the period. Institutional investors 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.