UiPath (NYSE:PATH) Stock Price Up 2.6% - What's Next?

UiPath Inc. (NYSE:PATH - Get Free Report)'s share price was up 2.6% on Tuesday . The stock traded as high as $13.29 and last traded at $13.16. Approximately 1,579,685 shares traded hands during mid-day trading, a decline of 81% from the average daily volume of 8,153,080 shares. The stock had previously closed at $12.83.

Analyst Ratings Changes

A number of research analysts have recently issued reports on PATH shares. JPMorgan Chase & Co. increased their target price on UiPath from $17.00 to $18.00 and gave the company an "overweight" rating in a research report on Friday, December 6th. UBS Group initiated coverage on shares of UiPath in a research report on Thursday, December 12th. They set a "sell" rating and a $14.00 price target for the company. Wells Fargo & Company lowered their price objective 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. Finally, 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. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $17.44.

UiPath Stock Up 3.7 %

The business's 50-day simple moving average is $13.59 and its two-hundred day simple moving average is $12.78. The firm has a market capitalization of $7.32 billion, a price-to-earnings ratio of -83.19 and a beta of 0.96.

Insider Activity

In other UiPath news, CFO Ashim Gupta sold 47,227 shares of the firm'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 directly owns 856,538 shares in the company, valued at $11,186,386.28. This trade represents a 5.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Hitesh Ramani sold 25,000 shares of the company's stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $13.05, for a total value of $326,250.00. Following the transaction, the chief accounting officer now directly owns 269,421 shares of the company's stock, valued at approximately $3,515,944.05. This represents a 8.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 22.37% of the company's stock.

Institutional Investors Weigh In On UiPath

Institutional investors have recently added to or reduced their stakes in the business. Pacer Advisors Inc. acquired a new stake in UiPath during the second quarter worth approximately $69,180,000. Jacobs Levy Equity Management Inc. grew its holdings in shares of UiPath by 554.8% during the third quarter. Jacobs Levy Equity Management Inc. now owns 4,026,502 shares of the company's stock worth $51,539,000 after purchasing an additional 3,411,562 shares during the last quarter. Senvest Management LLC lifted its holdings 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 valued at $139,449,000 after purchasing an additional 1,559,500 shares during the last quarter. Worldquant Millennium Advisors LLC purchased a new stake in UiPath in the third quarter valued at approximately $19,071,000. Finally, Renaissance Technologies LLC purchased a new position in UiPath during the 2nd quarter worth $13,280,000. Hedge funds and other institutional investors own 62.50% of the company's stock.

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.