Stock Traders Purchase Large Volume of Call Options on UiPath (NYSE:PATH)

UiPath Inc. (NYSE:PATH) was the target of some unusual options trading on Friday. Investors bought 25,833 call options on the stock. This represents an increase of 11% compared to the average volume of 23,224 call options.

UiPath Price Performance

PATH opened at $10.84 on Friday. UiPath has a one year low of $9.50 and a one year high of $23.97. The firm has a market capitalization of $5.96 billion, a P/E ratio of -67.78 and a beta of 1.00. The company has a fifty day moving average price of $13.36 and a 200-day moving average price of $13.15.

Analysts Set New Price Targets

PATH has been the subject of several recent analyst reports. Barclays decreased their price target on UiPath from $15.00 to $12.00 and set an “equal weight” rating for the company in a research note on Thursday. Morgan Stanley decreased their price target on UiPath from $16.00 to $12.00 and set an “equal weight” rating on the stock in a research report on Thursday. Evercore ISI decreased their price objective on UiPath from $16.00 to $12.00 and set an “in-line” rating on the stock in a research report on Thursday. Bank of America reissued an “underperform” rating and issued a $10.00 price target (down previously from $18.00) on shares of UiPath in a research note on Thursday. Finally, Canaccord Genuity Group dropped their price target on UiPath from $19.00 to $14.00 and set a “buy” rating on the stock in a research note on Thursday. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, UiPath has a consensus rating of “Hold” and an average target price of $14.53.

Insider Activity at UiPath

In other news, 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 value of $616,784.62. Following the sale, the chief financial officer now owns 856,538 shares of the company’s stock, valued at approximately $11,186,386.28. The trade was a 5.23 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Hitesh Ramani sold 25,000 shares of UiPath 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 transaction, the chief accounting officer now 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. Company insiders own 22.37% of the company’s stock.

Hedge Funds Weigh In On UiPath

Hedge funds and other institutional investors have recently modified their holdings of the company. Smartleaf Asset Management LLC increased its position in shares of UiPath by 88.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,454 shares of the company’s stock valued at $31,000 after buying an additional 1,152 shares during the period. First Horizon Advisors Inc. lifted its position in UiPath by 47.8% during the fourth quarter. First Horizon Advisors Inc. now owns 2,487 shares of the company’s stock valued at $32,000 after purchasing an additional 804 shares during the period. EverSource Wealth Advisors LLC lifted its position in UiPath by 141.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 2,974 shares of the company’s stock valued at $38,000 after purchasing an additional 1,742 shares during the period. V Square Quantitative Management LLC raised its position in UiPath by 33.4% in the fourth quarter. V Square Quantitative Management LLC now owns 3,030 shares of the company’s stock worth $39,000 after acquiring an additional 759 shares during the period. Finally, Quarry LP raised its position in UiPath by 654.4% in the third quarter. Quarry LP now owns 3,146 shares of the company’s stock worth $40,000 after acquiring an additional 2,729 shares during the period. 62.50% of the stock is owned by institutional investors.

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.