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

UiPath Inc. (NYSE:PATH - Get Free Report)'s share price rose 7.7% on Tuesday . The company traded as high as $14.93 and last traded at $14.82. Approximately 5,458,836 shares were traded during mid-day trading, a decline of 31% from the average daily volume of 7,881,635 shares. The stock had previously closed at $13.76.

Wall Street Analyst Weigh In

PATH has been the topic of several research analyst reports. BMO Capital Markets lifted their price target on shares of UiPath from $15.00 to $16.00 and gave the company a "market perform" rating in a research note on Friday, December 6th. Barclays reduced their target price on shares of UiPath from $16.00 to $15.00 and set an "equal weight" rating for the company in a research note on Friday, January 10th. Wells Fargo & Company dropped their price target on UiPath from $15.00 to $13.00 and set an "equal weight" rating on the stock in a research note on Wednesday, October 23rd. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $16.00 price target on shares of UiPath in a research report on Friday, December 6th. Finally, Morgan Stanley lifted their price objective on shares of UiPath from $15.00 to $16.00 and gave the company an "equal weight" rating in a report on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $17.44.

UiPath Price Performance

The stock has a market capitalization of $7.81 billion, a PE ratio of -88.84 and a beta of 0.96. The company has a 50 day moving average price of $13.75 and a 200-day moving average price of $12.87.

Insider Activity at UiPath

In other UiPath news, CFO Ashim Gupta sold 47,227 shares of UiPath stock in a transaction that occurred on 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 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 document filed with the SEC, which is accessible through this hyperlink. Also, CAO Hitesh Ramani sold 25,000 shares of the firm's stock in a transaction 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 transaction, the chief accounting officer now 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 disclosure for this sale can be found here. 22.37% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On UiPath

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PATH. JTC Employer Solutions Trustee Ltd purchased a new stake in UiPath in the third quarter worth $26,000. Future Financial Wealth Managment LLC purchased a new position in UiPath during the 3rd quarter valued at about $26,000. V Square Quantitative Management LLC raised its holdings in shares of UiPath by 33.4% in the 4th quarter. V Square Quantitative Management LLC now owns 3,030 shares of the company's stock valued at $39,000 after purchasing an additional 759 shares in the last quarter. Quarry LP lifted its position in shares of UiPath by 654.4% in the 3rd quarter. Quarry LP now owns 3,146 shares of the company's stock worth $40,000 after purchasing an additional 2,729 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of UiPath by 124.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 4,098 shares of the company's stock valued at $52,000 after purchasing an additional 2,274 shares in the last quarter. 62.50% of the stock is owned by hedge funds and other 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.