UiPath (NYSE:PATH) Stock Price Up 8.2% – What’s Next?

UiPath Inc. (NYSE:PATH) shot up 8.2% during mid-day trading on Monday . The stock traded as high as $14.49 and last traded at $14.37. 5,506,866 shares changed hands during mid-day trading, a decline of 0% from the average session volume of 5,534,286 shares. The stock had previously closed at $13.28.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Morgan Stanley lifted their target price on UiPath from $15.00 to $16.00 and gave the company an “equal weight” rating in a report on Friday, December 6th. Wells Fargo & Company lowered their price objective on UiPath from $15.00 to $13.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 23rd. Barclays raised their target price on shares of UiPath from $15.00 to $16.00 and gave the company an “equal weight” rating in a report on Friday, December 6th. Royal Bank of Canada reissued a “sector perform” rating and issued a $16.00 price objective on shares of UiPath in a research report on Friday, December 6th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of UiPath in a research report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $17.50.

UiPath Stock Performance

The company has a 50-day moving average of $13.53 and a 200-day moving average of $12.75. The stock has a market cap of $7.38 billion, a price-to-earnings ratio of -83.94 and a beta of 0.96.

Insider Transactions at UiPath

In related news, CAO Hitesh Ramani sold 25,000 shares of the company’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $13.05, for a total transaction of $326,250.00. Following the transaction, the chief accounting officer now owns 269,421 shares of the company’s stock, valued at $3,515,944.05. This represents a 8.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Ashim Gupta sold 47,227 shares of the business’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $13.06, for a total transaction of $616,784.62. Following the sale, the chief financial officer now owns 856,538 shares in the company, valued at $11,186,386.28. The trade was a 5.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 22.37% of the company’s stock.

Institutional Investors Weigh In On UiPath

Several institutional investors and hedge funds have recently made changes to their positions in PATH. Diversified Trust Co acquired a new position in shares of UiPath in the fourth quarter worth $715,000. Everence Capital Management Inc. purchased a new position in UiPath in the 4th quarter valued at about $241,000. Principal Financial Group Inc. boosted its stake in shares of UiPath by 10.5% during the 3rd quarter. Principal Financial Group Inc. now owns 36,685 shares of the company’s stock worth $470,000 after purchasing an additional 3,477 shares during the last quarter. Sanctuary Advisors LLC grew its holdings in shares of UiPath by 236.0% during the third quarter. Sanctuary Advisors LLC now owns 41,098 shares of the company’s stock worth $526,000 after buying an additional 28,865 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of UiPath by 7.2% in the third quarter. Geode Capital Management LLC now owns 7,312,068 shares of the company’s stock valued at $93,619,000 after buying an additional 493,502 shares during the last quarter. 62.50% of the stock is currently owned by hedge funds and other institutional investors.

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.