UiPath (NYSE:PATH) Trading Up 7.7% – Still a Buy?

UiPath Inc. (NYSE:PATH)’s stock price traded up 7.7% during mid-day trading on Tuesday . The stock traded as high as $14.93 and last traded at $14.82. 5,458,836 shares changed hands during mid-day trading, a decline of 31% from the average session volume of 7,881,635 shares. The stock had previously closed at $13.76.

Wall Street Analyst Weigh In

A number of brokerages have commented on PATH. JPMorgan Chase & Co. raised their price target on shares of UiPath from $17.00 to $18.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. Wells Fargo & Company lowered their target price on 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 upped their price target on shares of UiPath from $15.00 to $16.00 and gave the stock an “equal weight” rating in a research report on Friday, December 6th. Royal Bank of Canada restated a “sector perform” rating and issued a $16.00 price objective on shares of UiPath in a research report on Friday, December 6th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of UiPath in a research report on Wednesday, January 15th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $17.44.

UiPath Stock Performance

The stock has a market capitalization of $8.34 billion, a price-to-earnings ratio of -94.86 and a beta of 0.96. The company has a fifty day simple moving average of $13.65 and a 200 day simple moving average of $12.83.

Insider Activity at UiPath

In other news, CAO Hitesh Ramani sold 25,000 shares of the firm’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 completion of the sale, the chief accounting officer now directly owns 269,421 shares in the company, valued at $3,515,944.05. This trade represents a 8.49 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Ashim Gupta sold 47,227 shares of the company’s stock in a transaction that occurred 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 in the company, valued at approximately $11,186,386.28. This trade represents a 5.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 22.37% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Ontario Teachers Pension Plan Board grew its holdings in UiPath by 136.0% during the third quarter. Ontario Teachers Pension Plan Board now owns 108,725 shares of the company’s stock worth $1,392,000 after buying an additional 62,650 shares in the last quarter. D.A. Davidson & CO. boosted its holdings in UiPath by 60.1% during the 3rd quarter. D.A. Davidson & CO. now owns 557,667 shares of the company’s stock worth $7,138,000 after acquiring an additional 209,300 shares during the last quarter. Stifel Financial Corp grew its stake in shares of UiPath by 30.1% in the 3rd quarter. Stifel Financial Corp now owns 323,818 shares of the company’s stock worth $4,145,000 after acquiring an additional 74,959 shares in the last quarter. Senvest Management LLC raised its holdings in shares of UiPath by 16.7% in the third quarter. Senvest Management LLC now owns 10,894,483 shares of the company’s stock valued at $139,449,000 after purchasing an additional 1,559,500 shares during the last quarter. Finally, Quantbot Technologies LP lifted its position 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 purchasing an additional 88,468 shares in the last quarter. 62.50% of the stock is owned by institutional investors.

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.