UiPath (NYSE:PATH) Trading Up 8.2% - Time to Buy?

UiPath Inc. (NYSE:PATH - Get Free Report) rose 8.2% during mid-day trading on Monday . The company traded as high as $14.49 and last traded at $14.37. Approximately 5,506,866 shares changed hands during mid-day trading, a decline of 0% from the average daily volume of 5,534,286 shares. The stock had previously closed at $13.28.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on PATH shares. JPMorgan Chase & Co. upped 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. Morgan Stanley upped their price objective on UiPath from $15.00 to $16.00 and gave the stock an "equal weight" rating in a research note on Friday, December 6th. Needham & Company LLC reaffirmed a "hold" rating on shares of UiPath in a research report on Thursday, December 19th. Royal Bank of Canada reissued a "sector perform" rating and set a $16.00 price target on shares of UiPath in a report on Friday, December 6th. Finally, BMO Capital Markets increased their price objective on shares of UiPath from $15.00 to $16.00 and gave the stock a "market perform" rating in a report on Friday, December 6th. One 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 stock. According to data from MarketBeat, UiPath currently has a consensus rating of "Hold" and a consensus price target of $17.50.

UiPath Stock Performance

The stock has a market cap of $7.57 billion, a P/E ratio of -86.06 and a beta of 0.96. The firm's 50-day moving average is $13.48 and its two-hundred day moving average is $12.72.

Insider Buying and Selling

In other UiPath news, CFO Ashim Gupta sold 47,227 shares of the stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $13.06, for a total value of $616,784.62. Following the transaction, the chief financial officer now owns 856,538 shares of the company's stock, valued at approximately $11,186,386.28. This represents a 5.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Hitesh Ramani sold 25,000 shares of the business'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 owns 269,421 shares of the company's stock, valued at $3,515,944.05. The trade was 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 currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Senvest Management LLC boosted its position in shares of UiPath by 16.7% during the third quarter. Senvest Management LLC now owns 10,894,483 shares of the company's stock worth $139,449,000 after purchasing an additional 1,559,500 shares in the last quarter. Geode Capital Management LLC lifted its holdings in UiPath by 7.2% during the third quarter. Geode Capital Management LLC now owns 7,312,068 shares of the company's stock worth $93,619,000 after acquiring an additional 493,502 shares in the last quarter. Pacer Advisors Inc. acquired a new position in UiPath in the second quarter valued at about $69,180,000. Jacobs Levy Equity Management Inc. increased its holdings in shares of UiPath by 554.8% in the third quarter. Jacobs Levy Equity Management Inc. now owns 4,026,502 shares of the company's stock worth $51,539,000 after acquiring an additional 3,411,562 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of UiPath by 11.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,890,360 shares of the company's stock worth $36,997,000 after purchasing an additional 291,171 shares during the period. Institutional investors own 62.50% of the company's stock.

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.