UiPath (NYSE:PATH) COO Sells 117,339 Shares of Stock

UiPath, Inc. (NYSE:PATH) COO Ashim Gupta sold 117,339 shares of the firm’s stock in a transaction that occurred on Friday, September 11th. The shares were sold at an average price of $13.85, for a total value of $1,625,145.15. Following the completion of the sale, the chief operating officer directly owned 2,037,377 shares in the company, valued at approximately $28,217,671.45. The trade was a 5.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

UiPath Stock Up 6.7%

Shares of UiPath stock traded up $0.92 on Monday, reaching $14.66. The company’s stock had a trading volume of 60,435,963 shares, compared to its average volume of 46,796,254. The company has a market capitalization of $7.60 billion, a P/E ratio of 21.89, a PEG ratio of 1.35 and a beta of 1.02. The stock has a 50-day moving average price of $14.20 and a 200-day moving average price of $12.06. 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 (EPS) for the quarter, meeting analysts’ consensus estimates of $0.15. UiPath had a return on equity of 9.70% and a net margin of 21.03%.The firm had revenue of $410.26 million for the quarter, compared to analyst estimates of $397.77 million. During the same quarter last year, the firm posted $0.15 EPS. The business’s revenue was up 13.3% on a year-over-year basis. Sell-side analysts forecast that UiPath, Inc. will post 0.47 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PATH. TD Cowen lifted their target price on shares of UiPath from $13.00 to $16.00 and gave the company a “hold” rating in a research report on Friday, September 4th. Truist Financial upped their price target on shares of UiPath from $12.00 to $17.00 and gave the stock a “hold” rating in a research report on Friday, September 4th. Citigroup began coverage on shares of UiPath in a research note on Tuesday, September 8th. They issued a “buy” rating and a $23.00 price target on the stock. Royal Bank Of Canada lifted their price objective on UiPath from $15.00 to $17.00 and gave the stock a “sector perform” rating in a report on Friday, September 4th. Finally, Mizuho boosted their price objective on UiPath from $12.00 to $14.00 and gave the stock a “neutral” rating in a research note on Friday, September 4th. Three analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $16.75.

Institutional Investors Weigh In On UiPath

Several institutional investors and hedge funds have recently added to or reduced their stakes in PATH. BlackRock Inc. grew its holdings in shares of UiPath by 7.2% during the second quarter. BlackRock Inc. now owns 46,153,124 shares of the company’s stock worth $501,684,000 after buying an additional 3,097,822 shares in the last quarter. Bank of America Corp DE boosted its position in UiPath by 13.2% during the first quarter. Bank of America Corp DE now owns 10,046,699 shares of the company’s stock worth $111,518,000 after acquiring an additional 1,170,285 shares during the last quarter. Geode Capital Management LLC grew its stake in UiPath by 25.6% during the 4th quarter. Geode Capital Management LLC now owns 7,499,989 shares of the company’s stock valued at $122,951,000 after acquiring an additional 1,528,454 shares in the last quarter. Norges Bank purchased a new stake in UiPath during the 4th quarter valued at about $120,176,000. Finally, Dimensional Fund Advisors LP raised its holdings in 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 acquiring an additional 1,437,843 shares during the last quarter. Institutional investors and hedge funds own 62.50% of the company’s stock.

About UiPath

UiPath Inc (NYSE: PATH) develops enterprise automation software designed to help organizations automate repetitive, rules-based and increasingly complex business processes. Its platform combines robotic process automation (RPA), artificial intelligence, workflow orchestration and process intelligence to support automation across areas such as finance, customer service, human resources, information technology and operations.

The UiPath Platform includes tools for discovering and analyzing business processes, building and managing software robots, processing documents, testing applications and coordinating automated workflows.