UiPath Target of Unusually Large Options Trading (NYSE:PATH)

UiPath Inc. (NYSE:PATH) saw some unusual options trading on Monday. Stock traders bought 34,025 call options on the stock. This is an increase of 65% compared to the average daily volume of 20,597 call options.

UiPath Trading Up 8.1 %

NYSE PATH traded up $1.07 on Monday, hitting $14.35. 8,273,839 shares of the company’s stock were exchanged, compared to its average volume of 6,561,010. The stock has a 50-day moving average of $13.48 and a 200-day moving average of $12.72. UiPath has a 52 week low of $10.37 and a 52 week high of $27.87. The stock has a market cap of $7.89 billion, a price-to-earnings ratio of -89.69 and a beta of 0.96.

Institutional Investors Weigh In On UiPath

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Pacer Advisors Inc. acquired a new stake in UiPath in the second quarter valued at $69,180,000. Jacobs Levy Equity Management Inc. grew its holdings in UiPath by 554.8% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 4,026,502 shares of the company’s stock worth $51,539,000 after acquiring an additional 3,411,562 shares during the period. Senvest Management LLC grew its stake in shares of UiPath by 16.7% in the 3rd quarter. Senvest Management LLC now owns 10,894,483 shares of the company’s stock valued at $139,449,000 after buying an additional 1,559,500 shares during the period. Worldquant Millennium Advisors LLC acquired a new stake in shares of UiPath in the 3rd quarter valued at about $19,071,000. Finally, Renaissance Technologies LLC acquired a new stake in shares of UiPath in the 2nd quarter valued at about $13,280,000. 62.50% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on PATH shares. BMO Capital Markets lifted their price objective on UiPath from $15.00 to $16.00 and gave the stock a “market perform” rating in a research note on Friday, December 6th. JPMorgan Chase & Co. lifted their price objective on UiPath from $17.00 to $18.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. UBS Group started coverage on UiPath in a research note on Thursday, December 12th. They set a “sell” rating and a $14.00 price objective for the company. Morgan Stanley lifted their target price on UiPath from $15.00 to $16.00 and gave the stock an “equal weight” rating in a report on Friday, December 6th. Finally, 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, December 6th. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $17.50.

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.