UiPath (NYSE:PATH) Trading 0.5% Higher – Time to Buy?

UiPath Inc. (NYSE:PATH)’s share price rose 0.5% on Wednesday . The stock traded as high as $13.73 and last traded at $13.35. Approximately 2,163,790 shares traded hands during mid-day trading, a decline of 73% from the average daily volume of 8,080,390 shares. The stock had previously closed at $13.28.

Analysts Set New Price Targets

A number of research analysts recently issued reports on PATH shares. 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. BMO Capital Markets raised their target price on shares of UiPath from $15.00 to $16.00 and gave the stock a “market perform” rating in a research report on Friday, December 6th. Barclays reduced their price target on shares of UiPath from $16.00 to $15.00 and set an “equal weight” rating for the company in a research report on Friday, January 10th. Needham & Company LLC reissued a “hold” rating on shares of UiPath in a research report on Wednesday. Finally, Wells Fargo & Company dropped their price objective on shares of UiPath from $15.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $17.44.

UiPath Stock Performance

The stock’s fifty day moving average price is $13.59 and its 200-day moving average price is $12.79. The firm has a market cap of $7.16 billion, a PE ratio of -81.40 and a beta of 0.96.

Insider Buying and Selling at UiPath

In other news, 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 $3,515,944.05. This trade represents a 8.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Ashim Gupta sold 47,227 shares of UiPath 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 transaction, the chief financial officer now directly owns 856,538 shares of the company’s stock, 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. 22.37% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Pacer Advisors Inc. acquired a new stake in shares of UiPath during the second quarter valued at $69,180,000. Jacobs Levy Equity Management Inc. boosted its stake in shares of UiPath by 554.8% during the 3rd 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 grew 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 worth $139,449,000 after buying an additional 1,559,500 shares in the last quarter. Worldquant Millennium Advisors LLC acquired a new position in shares of UiPath in the third quarter valued at approximately $19,071,000. Finally, Renaissance Technologies LLC purchased a new position in shares of UiPath during the second quarter valued at approximately $13,280,000. 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.