UiPath (NYSE:PATH) Trading 1.7% Higher – Here’s What Happened

UiPath Inc. (NYSE:PATH) shares were up 1.7% during trading on Thursday . The stock traded as high as $13.05 and last traded at $12.92. Approximately 1,540,216 shares changed hands during trading, a decline of 84% from the average daily volume of 9,586,992 shares. The stock had previously closed at $12.71.

Wall Street Analyst Weigh In

Several research firms recently weighed in on PATH. JPMorgan Chase & Co. lifted their price objective on UiPath from $17.00 to $18.00 and gave the company an “overweight” rating in a report on Friday, December 6th. Wells Fargo & Company reduced their target price on shares of UiPath from $15.00 to $13.00 and set an “equal weight” rating for the company in a report on Wednesday, October 23rd. Evercore ISI lifted their price objective on shares of UiPath from $13.00 to $16.00 and gave the stock an “in-line” rating in a research report on Friday, September 6th. Barclays increased their target price on shares of UiPath from $15.00 to $16.00 and gave the company an “equal weight” rating in a research report on Friday, December 6th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of UiPath in a report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, UiPath has an average rating of “Hold” and a consensus price target of $17.50.

UiPath Trading Up 2.7 %

The stock has a market capitalization of $7.30 billion, a PE ratio of -83.00 and a beta of 0.96. The firm’s fifty day moving average price is $13.48 and its two-hundred day moving average price is $12.70.

Hedge Funds Weigh In On UiPath

A number of large investors have recently bought and sold shares of PATH. Future Financial Wealth Managment LLC purchased a new stake in shares of UiPath during the third quarter worth about $26,000. JTC Employer Solutions Trustee Ltd purchased a new stake in UiPath during the 3rd quarter worth approximately $26,000. Quarry LP raised its holdings in shares of UiPath by 654.4% during the third quarter. Quarry LP now owns 3,146 shares of the company’s stock valued at $40,000 after acquiring an additional 2,729 shares during the last quarter. Redwood Wealth Management Group LLC purchased a new position in shares of UiPath in the second quarter valued at approximately $43,000. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of UiPath by 124.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 4,098 shares of the company’s stock worth $52,000 after acquiring an additional 2,274 shares during the last quarter. Institutional investors and hedge funds own 62.50% of the company’s stock.

About UiPath

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.