UiPath (NYSE:PATH) Trading Up 7.7% - Time to Buy?

UiPath Inc. (NYSE:PATH - Get Free Report) traded up 7.7% during trading on Tuesday . The stock traded as high as $14.93 and last traded at $14.82. 5,458,836 shares changed hands during mid-day trading, a decline of 31% from the average session volume of 7,881,635 shares. The stock had previously closed at $13.76.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on PATH shares. Morgan Stanley lifted their price target on UiPath from $15.00 to $16.00 and gave the company an "equal weight" rating in a report on Friday, December 6th. Needham & Company LLC reiterated a "hold" rating on shares of UiPath in a research report on Wednesday, January 15th. BMO Capital Markets raised their price target on UiPath from $15.00 to $16.00 and gave the company a "market perform" rating in a report on Friday, December 6th. UBS Group began coverage on shares of UiPath in a report on Thursday, December 12th. They issued a "sell" rating and a $14.00 price objective for the company. Finally, Royal Bank of Canada reiterated a "sector perform" rating and issued a $16.00 target price on shares of UiPath in a research report on Friday, December 6th. 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's stock. According to data from MarketBeat.com, UiPath has an average rating of "Hold" and a consensus price target of $17.44.

UiPath Trading Down 2.5 %

The stock has a market cap of $7.81 billion, a price-to-earnings ratio of -88.84 and a beta of 0.96. The company has a fifty day simple moving average of $13.74 and a 200-day simple moving average of $12.88.

Insiders Place Their Bets

In related news, CAO Hitesh Ramani sold 25,000 shares of the 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 completion of the sale, the chief accounting officer now directly owns 269,421 shares in the company, valued at approximately $3,515,944.05. This trade represents a 8.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Ashim Gupta sold 47,227 shares of the business'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 completion of the transaction, the chief financial officer now owns 856,538 shares in the company, valued at $11,186,386.28. This trade represents a 5.23 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 22.37% of the company's stock.

Institutional Investors Weigh In On UiPath

Several institutional investors have recently made changes to their positions in the company. Future Financial Wealth Managment LLC bought a new stake in UiPath in the third quarter worth approximately $26,000. JTC Employer Solutions Trustee Ltd bought a new stake in UiPath in the third quarter worth $26,000. V Square Quantitative Management LLC increased its position in UiPath by 33.4% during the fourth quarter. V Square Quantitative Management LLC now owns 3,030 shares of the company's stock worth $39,000 after buying an additional 759 shares during the last quarter. Quarry LP lifted its position in shares of UiPath by 654.4% in the third quarter. Quarry LP now owns 3,146 shares of the company's stock worth $40,000 after buying an additional 2,729 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of UiPath by 124.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 4,098 shares of the company's stock worth $52,000 after buying an additional 2,274 shares during the last quarter. 62.50% of the stock is currently owned by institutional investors and hedge funds.

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.