UiPath (NYSE:PATH) Trading Down 1.4% After Insider Selling

UiPath Inc. (NYSE:PATH) shares traded down 1.4% during mid-day trading on Tuesday after an insider sold shares in the company. The stock traded as low as $13.41 and last traded at $13.62. 3,356,341 shares traded hands during mid-day trading, a decline of 58% from the average session volume of 8,039,564 shares. The stock had previously closed at $13.81.

Specifically, CFO Ashim Gupta sold 47,227 shares of the company’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $13.06, for a total value of $616,784.62. Following the completion of the transaction, the chief financial officer now directly owns 856,538 shares of the company’s stock, valued at $11,186,386.28. This represents a 5.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Hitesh Ramani sold 25,000 shares of the firm’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $13.05, for a total value of $326,250.00. Following the sale, the chief accounting officer now directly owns 269,421 shares of the company’s stock, valued at approximately $3,515,944.05. This represents a 8.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on PATH shares. Barclays raised their price objective on shares of UiPath from $15.00 to $16.00 and gave the stock an “equal weight” rating in a report on Friday, December 6th. Morgan Stanley lifted their price target on shares of UiPath from $15.00 to $16.00 and gave the stock an “equal weight” rating in a report on Friday, December 6th. JPMorgan Chase & Co. upped 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. UBS Group started coverage on UiPath in a research report on Thursday, December 12th. They issued a “sell” rating and a $14.00 target price for the company. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $16.00 price target on shares of UiPath in a research report on Friday, December 6th. One research 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’s stock. According to MarketBeat, UiPath has an average rating of “Hold” and an average target price of $17.50.

UiPath Trading Up 1.7 %

The company’s fifty day simple moving average is $13.53 and its 200 day simple moving average is $12.75. The stock has a market capitalization of $7.38 billion, a P/E ratio of -83.94 and a beta of 0.96.

Institutional Investors Weigh In On UiPath

Several large investors have recently added to or reduced their stakes in PATH. Ontario Teachers Pension Plan Board raised its holdings in shares of UiPath by 136.0% in the 3rd quarter. Ontario Teachers Pension Plan Board now owns 108,725 shares of the company’s stock valued at $1,392,000 after acquiring an additional 62,650 shares in the last quarter. D.A. Davidson & CO. raised its stake in UiPath by 60.1% in the third quarter. D.A. Davidson & CO. now owns 557,667 shares of the company’s stock valued at $7,138,000 after purchasing an additional 209,300 shares in the last quarter. Stifel Financial Corp lifted its position in UiPath by 30.1% during the third quarter. Stifel Financial Corp now owns 323,818 shares of the company’s stock valued at $4,145,000 after purchasing an additional 74,959 shares during the last quarter. Senvest Management LLC grew its stake in UiPath by 16.7% in the 3rd quarter. Senvest Management LLC now owns 10,894,483 shares of the company’s stock worth $139,449,000 after buying an additional 1,559,500 shares in the last quarter. Finally, Quantbot Technologies LP grew its stake in UiPath by 667.7% in the 3rd quarter. Quantbot Technologies LP now owns 101,718 shares of the company’s stock worth $1,302,000 after buying an additional 88,468 shares in the last quarter. Institutional investors own 62.50% of the company’s stock.

UiPath Company Profile

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.