UiPath (NYSE:PATH) Trading 1.7% Higher – Should You Buy?

Shares of UiPath Inc. (NYSE:PATH) traded up 1.7% during trading on Thursday . The company traded as high as $13.54 and last traded at $13.43. 8,644,720 shares traded hands during trading, a decline of 10% from the average session volume of 9,625,994 shares. The stock had previously closed at $13.20.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Wells Fargo & Company decreased their price target on shares of UiPath from $15.00 to $13.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 23rd. Morgan Stanley boosted their price target on shares of UiPath from $15.00 to $16.00 and gave the company an “equal weight” rating in a research note on Friday, December 6th. Needham & Company LLC restated a “hold” rating on shares of UiPath in a research note on Thursday, December 19th. Royal Bank of Canada restated a “sector perform” rating and set a $16.00 price target on shares of UiPath in a research note on Friday, December 6th. Finally, Barclays lifted their price objective on shares of UiPath from $15.00 to $16.00 and gave the stock an “equal weight” rating in a report on Friday, December 6th. 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 stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $17.50.

UiPath Price Performance

The firm has a market cap of $7.38 billion, a PE ratio of -83.94 and a beta of 0.96. The company has a 50 day simple moving average of $13.53 and a 200-day simple moving average of $12.75.

Insiders Place Their Bets

In related 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 completion of the sale, the chief financial officer now owns 856,538 shares of the company’s stock, valued at $11,186,386.28. This trade represents a 5.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 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 sale, the chief accounting officer now directly owns 269,421 shares of the company’s stock, valued at $3,515,944.05. The trade was a 8.49 % decrease in their position. The disclosure for this sale can be found here. 22.37% of the stock is owned by insiders.

Hedge Funds Weigh In On UiPath

Institutional investors have recently added to or reduced their stakes in the company. Ontario Teachers Pension Plan Board raised its holdings in UiPath by 136.0% in the third quarter. Ontario Teachers Pension Plan Board now owns 108,725 shares of the company’s stock worth $1,392,000 after purchasing an additional 62,650 shares in the last quarter. D.A. Davidson & CO. increased its holdings in shares of UiPath by 60.1% during the third quarter. D.A. Davidson & CO. now owns 557,667 shares of the company’s stock valued at $7,138,000 after acquiring an additional 209,300 shares in the last quarter. Stifel Financial Corp increased its holdings in shares of UiPath by 30.1% during the third quarter. Stifel Financial Corp now owns 323,818 shares of the company’s stock valued at $4,145,000 after acquiring an additional 74,959 shares in the last quarter. Senvest Management LLC increased its holdings 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 valued at $139,449,000 after acquiring an additional 1,559,500 shares in the last quarter. Finally, Quantbot Technologies LP increased its holdings in shares of UiPath by 667.7% during the third quarter. Quantbot Technologies LP now owns 101,718 shares of the company’s stock valued at $1,302,000 after acquiring an additional 88,468 shares in the last quarter. 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.