Traders Purchase High Volume of Call Options on UiPath (NYSE:PATH)

UiPath Inc. (NYSE:PATH) saw unusually large options trading activity on Wednesday. Investors purchased 22,573 call options on the stock. This represents an increase of 34% compared to the average daily volume of 16,845 call options.

UiPath Stock Performance

PATH opened at $15.33 on Thursday. UiPath has a fifty-two week low of $10.37 and a fifty-two week high of $27.87. The firm’s fifty day moving average is $12.96 and its 200 day moving average is $12.83. The stock has a market cap of $8.43 billion, a price-to-earnings ratio of -78.20 and a beta of 0.94.

UiPath (NYSE:PATH) last announced its earnings results on Thursday, September 5th. The company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.01. The firm had revenue of $316.00 million for the quarter, compared to analysts’ expectations of $303.69 million. UiPath had a negative net margin of 8.13% and a negative return on equity of 3.98%. The business’s revenue was up 10.0% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.09) EPS. On average, equities research analysts predict that UiPath will post -0.23 earnings per share for the current year.

Analyst Ratings Changes

PATH has been the subject of a number of analyst reports. Royal Bank of Canada reiterated a “sector perform” rating and set a $16.00 target price on shares of UiPath in a report on Friday, September 6th. DA Davidson increased their price target on shares of UiPath from $13.00 to $15.00 and gave the stock a “neutral” rating in a research note on Friday, September 6th. JPMorgan Chase & Co. decreased their price target on shares of UiPath from $19.00 to $17.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Bank of America increased their price target on shares of UiPath from $16.00 to $18.00 and gave the stock a “neutral” rating in a research note on Friday, September 6th. Finally, Needham & Company LLC reissued a “hold” rating on shares of UiPath in a research note on Wednesday, October 23rd. Sixteen equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $17.47.

Insider Buying and Selling

In other UiPath news, CFO Ashim Gupta sold 47,671 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $12.07, for a total transaction of $575,388.97. Following the completion of the sale, the chief financial officer now directly owns 849,917 shares in the company, valued at $10,258,498.19. This represents a 5.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 22.37% of the stock is owned by company insiders.

Hedge Funds Weigh In On UiPath

Hedge funds and other institutional investors have recently modified their holdings of the business. Future Financial Wealth Managment LLC purchased a new stake in UiPath during the third quarter valued at approximately $26,000. JTC Employer Solutions Trustee Ltd purchased a new position in shares of UiPath in the third quarter worth about $26,000. Hantz Financial Services Inc. purchased a new position in shares of UiPath in the second quarter worth about $28,000. Quarry LP lifted its stake in shares of UiPath by 654.4% in the third quarter. Quarry LP now owns 3,146 shares of the company’s stock worth $40,000 after buying an additional 2,729 shares in the last quarter. Finally, Redwood Wealth Management Group LLC purchased a new position in UiPath during the second quarter worth about $43,000. 62.50% of the stock is currently owned by institutional investors.

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.