UiPath (NYSE:PATH) Shares Up 1.7% – Still a Buy?

UiPath Inc. (NYSE:PATH) shares shot up 1.7% during mid-day trading on Thursday . The company traded as high as $13.54 and last traded at $13.43. 8,644,720 shares were traded during trading, a decline of 10% from the average session volume of 9,625,994 shares. The stock had previously closed at $13.20.

Wall Street Analyst Weigh In

PATH has been the topic of several research reports. Barclays lowered their price target on UiPath from $16.00 to $15.00 and set an “equal weight” rating on the stock in a research note on Friday. Royal Bank of Canada reissued a “sector perform” rating and issued a $16.00 target price on shares of UiPath in a report on Friday, December 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of UiPath in a report on Thursday, December 19th. Morgan Stanley upped their target price on shares of UiPath from $15.00 to $16.00 and gave the company an “equal weight” rating in a research report on Friday, December 6th. Finally, Wells Fargo & Company dropped their target price on shares of UiPath from $15.00 to $13.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 23rd. One investment 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. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $17.44.

UiPath Price Performance

The stock’s 50-day moving average is $13.56 and its two-hundred day moving average is $12.76. The stock has a market cap of $7.13 billion, a P/E ratio of -81.06 and a beta of 0.96.

Insider Activity at UiPath

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Future Financial Wealth Managment LLC bought a new stake in shares of UiPath in the 3rd quarter valued at about $26,000. JTC Employer Solutions Trustee Ltd bought a new stake in shares of UiPath in the 3rd quarter valued at about $26,000. Quarry LP boosted its holdings in shares of UiPath by 654.4% in the 3rd quarter. Quarry LP now owns 3,146 shares of the company’s stock valued at $40,000 after buying an additional 2,729 shares in the last quarter. Redwood Wealth Management Group LLC bought a new stake in shares of UiPath in the 2nd quarter valued at about $43,000. Finally, Allspring Global Investments Holdings LLC boosted its holdings in shares of UiPath by 124.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 4,098 shares of the company’s stock valued at $52,000 after buying an additional 2,274 shares in the last quarter. 62.50% of the stock is currently owned by 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.