UiPath (NYSE:PATH) Stock: Insider Raghavendra Malpani Sells 29,565 Shares

UiPath, Inc. (NYSE:PATH) insider Raghavendra Malpani sold 29,565 shares of the business’s stock in a transaction that occurred on Thursday, October 22nd. The shares were sold at an average price of $14.00, for a total value of $413,910.00. Following the transaction, the insider owned 1,484,716 shares of the company’s stock, valued at $20,786,024. This represents a 1.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Raghavendra Malpani also recently made the following trade(s):

• On Friday, October 9th, Raghavendra Malpani sold 29,564 shares of UiPath stock. The stock was sold at an average price of $13.51, for a total value of $399,409.64.
• On Thursday, September 17th, Raghavendra Malpani sold 40,464 shares of UiPath stock. The shares were sold at an average price of $14.00, for a total transaction of $566,496.00.

UiPath Stock Up 1.3%

Shares of UiPath stock traded up $0.19 on Monday, hitting $14.32. 29,063,631 shares of the company traded hands, compared to its average volume of 45,260,188. UiPath, Inc. has a 12-month low of $9.20 and a 12-month high of $19.84. The company has a market cap of $7.46 billion, a PE ratio of 21.37, a PEG ratio of 1.33 and a beta of 1.01. The company has a 50-day moving average price of $14.48 and a 200 day moving average price of $12.48.

UiPath (NYSE:PATH) last released its quarterly earnings data on Thursday, September 3rd. The company reported $0.15 EPS for the quarter, hitting analysts’ consensus estimates of $0.15. The company had revenue of $410.26 million during the quarter, compared to the consensus estimate of $397.77 million. UiPath had a net margin of 21.03% and a return on equity of 9.70%. The firm’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same period last year, the firm earned $0.15 EPS. Equities research analysts anticipate that UiPath, Inc. will post 0.49 EPS for the current year.

Analysts Set New Price Targets

A number of research firms recently commented on PATH. KeyCorp reaffirmed a “sector weight” rating on shares of UiPath in a research report on Thursday, September 24th. Needham & Company LLC reiterated a “buy” rating and issued a $22.00 price objective on shares of UiPath in a research note on Wednesday, September 23rd. DA Davidson reissued an “underperform” rating and issued a $10.00 price objective on shares of UiPath in a report on Monday, September 28th. Citigroup started coverage on shares of UiPath in a research report on Tuesday, September 8th. They set a “buy” rating and a $23.00 target price on the stock. Finally, Canaccord Genuity Group lowered their target price on shares of UiPath from $17.00 to $14.00 and set a “hold” rating on the stock in a report on Thursday, September 24th. Four investment analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, UiPath currently has a consensus rating of “Hold” and a consensus price target of $15.69.

Institutional Trading of UiPath

A number of institutional investors have recently modified their holdings of the stock. Trifecta Capital Advisors LLC acquired a new stake in shares of UiPath during the 2nd quarter worth $27,000. CoreCap Advisors LLC increased its position in shares of UiPath by 68.7% in the third quarter. CoreCap Advisors LLC now owns 2,679 shares of the company’s stock worth $34,000 after purchasing an additional 1,091 shares during the period. AdvisorNet Financial Inc increased its position in shares of UiPath by 750.0% in the first quarter. AdvisorNet Financial Inc now owns 3,400 shares of the company’s stock worth $38,000 after purchasing an additional 3,000 shares during the period. Versant Capital Management Inc raised its stake in UiPath by 103.6% in the third quarter. Versant Capital Management Inc now owns 4,845 shares of the company’s stock valued at $62,000 after purchasing an additional 2,465 shares in the last quarter. Finally, Global Retirement Partners LLC acquired a new position in UiPath in the second quarter valued at about $57,000. 62.50% of the stock is currently owned by institutional investors.

About UiPath

UiPath, Inc develops enterprise automation software that helps organizations automate repetitive, rules-based and increasingly complex business processes. Its platform combines robotic process automation with artificial intelligence, workflow orchestration, process mining, document processing and application integration capabilities.

The company’s products are designed to support the discovery, development, deployment and management of software robots and AI-powered automations across functions such as finance, customer service, human resources, information technology and operations.