Insider Selling: UiPath Inc. (NYSE:PATH) CAO Sells 25,000 Shares of Stock

UiPath Inc. (NYSE:PATH - Get Free Report) CAO Hitesh Ramani sold 25,000 shares of the company's stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $13.05, for a total value of $326,250.00. Following the completion of the sale, the chief accounting officer now owns 269,421 shares in the company, valued at approximately $3,515,944.05. This represents a 8.49 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

UiPath Stock Performance

Shares of PATH traded up $0.49 during trading hours on Monday, hitting $13.77. The stock had a trading volume of 17,173,577 shares, compared to its average volume of 9,825,881. The firm has a market cap of $7.57 billion, a P/E ratio of -86.06 and a beta of 0.96. The company's fifty day simple moving average is $13.50 and its 200 day simple moving average is $12.74. UiPath Inc. has a 12-month low of $10.37 and a 12-month high of $27.87.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in PATH. Pacer Advisors Inc. purchased a new position in shares of UiPath in the 2nd quarter worth $69,180,000. Jacobs Levy Equity Management Inc. raised its position in shares of UiPath by 554.8% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 4,026,502 shares of the company's stock worth $51,539,000 after buying an additional 3,411,562 shares during the period. Senvest Management LLC raised its position in shares of 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 during the period. Worldquant Millennium Advisors LLC purchased a new position in UiPath in the third quarter valued at about $19,071,000. Finally, Renaissance Technologies LLC purchased a new position in UiPath in the second quarter valued at about $13,280,000. 62.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on PATH shares. Wells Fargo & Company lowered their target price on UiPath from $15.00 to $13.00 and set an "equal weight" rating on the stock in a report on Wednesday, October 23rd. BMO Capital Markets increased their target price on UiPath from $15.00 to $16.00 and gave the company a "market perform" rating in a report on Friday, December 6th. Royal Bank of Canada reiterated a "sector perform" rating and set a $16.00 target price on shares of UiPath in a report on Friday, December 6th. JPMorgan Chase & Co. increased their target price on UiPath from $17.00 to $18.00 and gave the company an "overweight" rating in a report on Friday, December 6th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of UiPath in a report on Thursday, December 19th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $17.50.

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.