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

UiPath, Inc. (NYSE:PATH) saw some unusual options trading on Wednesday. Stock traders bought 28,800 call options on the stock. This is an increase of approximately 59% compared to the typical volume of 18,108 call options.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Needham & Company LLC restated a “hold” rating on shares of UiPath in a research note on Friday, May 30th. Scotiabank raised their target price on UiPath from $12.00 to $13.00 and gave the stock a “sector perform” rating in a research note on Friday, May 30th. Morgan Stanley increased their target price on UiPath from $12.00 to $15.00 and gave the company an “equal weight” rating in a report on Monday, June 2nd. Canaccord Genuity Group set a $16.00 price objective on UiPath and gave the stock a “buy” rating in a research report on Monday, June 2nd. Finally, Royal Bank Of Canada lifted their price objective on UiPath from $13.00 to $15.00 and gave the company a “sector perform” rating in a report on Friday, May 30th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $13.83.

Insider Activity at UiPath

In other news, CFO Ashim Gupta sold 56,322 shares of the company’s stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $12.72, for a total transaction of $716,415.84. Following the completion of the sale, the chief financial officer directly owned 859,991 shares in the company, valued at approximately $10,939,085.52. This represents a 6.15% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Daniel Dines sold 45,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $12.43, for a total transaction of $559,350.00. Following the completion of the transaction, the chief executive officer owned 5,058,376 shares of the company’s stock, valued at approximately $62,875,613.68. This trade represents a 0.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 650,117 shares of company stock valued at $8,159,744. 23.19% of the stock is currently owned by insiders.

Institutional Trading of UiPath

Large investors have recently bought and sold shares of the business. Tidal Investments LLC raised its stake in shares of UiPath by 3.7% during the 4th quarter. Tidal Investments LLC now owns 22,487 shares of the company’s stock worth $286,000 after buying an additional 797 shares in the last quarter. True Wealth Design LLC grew its position in shares of UiPath by 18.4% during the fourth quarter. True Wealth Design LLC now owns 5,163 shares of the company’s stock worth $66,000 after acquiring an additional 801 shares during the last quarter. GAMMA Investing LLC increased its stake in UiPath by 48.0% during the 2nd quarter. GAMMA Investing LLC now owns 2,989 shares of the company’s stock valued at $38,000 after buying an additional 969 shares during the period. United Capital Financial Advisors LLC boosted its holdings in UiPath by 8.6% during the fourth quarter. United Capital Financial Advisors LLC now owns 12,238 shares of the company’s stock worth $156,000 after buying an additional 971 shares in the last quarter. Finally, NewEdge Advisors LLC boosted its stake in UiPath by 6.8% in the 4th quarter. NewEdge Advisors LLC now owns 15,809 shares of the company’s stock worth $201,000 after purchasing an additional 1,003 shares during the period. Hedge funds and other institutional investors own 62.50% of the company’s stock.

UiPath Stock Performance

Shares of NYSE PATH opened at $12.39 on Thursday. The company has a market cap of $6.63 billion, a P/E ratio of -103.22, a P/E/G ratio of 16.22 and a beta of 1.04. The firm’s fifty day moving average is $12.75 and its two-hundred day moving average is $12.46. UiPath has a 52-week low of $9.38 and a 52-week high of $15.93.

UiPath (NYSE:PATH) last issued its quarterly earnings data on Thursday, May 29th. The company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.01. The firm had revenue of $356.62 million during the quarter, compared to analysts’ expectations of $332.17 million. UiPath had a negative return on equity of 3.05% and a negative net margin of 4.65%. The firm’s quarterly revenue was up 6.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.13 EPS. As a group, analysts forecast that UiPath will post -0.17 EPS for the current fiscal year.

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.