UiPath (NYSE:PATH) Hits New 1-Year High – Here’s What Happened

UiPath, Inc. (NYSE:PATH) shares hit a new 52-week high during trading on Friday . The company traded as high as $18.98 and last traded at $18.52, with a volume of 7503846 shares traded. The stock had previously closed at $18.48.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. BMO Capital Markets raised their price objective on UiPath from $13.00 to $17.00 and gave the company a “market perform” rating in a research report on Thursday. Barclays increased their target price on UiPath from $14.00 to $16.00 and gave the stock an “equal weight” rating in a research note on Thursday. Zacks Research lowered UiPath from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 4th. UBS Group reiterated a “neutral” rating on shares of UiPath in a research note on Thursday. Finally, Needham & Company LLC reissued a “hold” rating on shares of UiPath in a research report on Thursday. Two investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, UiPath currently has an average rating of “Hold” and an average target price of $15.64.

UiPath Stock Down 0.2%

The stock has a market capitalization of $9.79 billion, a P/E ratio of 43.70, a P/E/G ratio of 5.50 and a beta of 1.10. The business has a fifty day moving average price of $14.80 and a 200-day moving average price of $13.03.

UiPath (NYSE:PATH) last released its quarterly earnings data on Wednesday, December 3rd. The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.14 by $0.02. UiPath had a return on equity of 3.83% and a net margin of 14.79%.The company had revenue of $411.11 million during the quarter, compared to the consensus estimate of $392.46 million. During the same period last year, the company earned $0.11 EPS. UiPath’s revenue for the quarter was up 15.9% on a year-over-year basis. On average, equities analysts expect that UiPath, Inc. will post -0.17 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Ashim Gupta sold 240,874 shares of the firm’s stock in a transaction that occurred on Thursday, October 9th. The shares were sold at an average price of $17.28, for a total value of $4,162,302.72. Following the sale, the chief financial officer owned 696,117 shares in the company, valued at approximately $12,028,901.76. This trade represents a 25.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Daniel Dines sold 122,734 shares of UiPath stock in a transaction that occurred on Wednesday, October 8th. The stock was sold at an average price of $14.89, for a total transaction of $1,827,509.26. Following the completion of the sale, the chief executive officer directly owned 613,670 shares of the company’s stock, valued at approximately $9,137,546.30. This trade represents a 16.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 2,319,002 shares of company stock worth $34,094,875. 23.19% of the stock is owned by insiders.

Institutional Trading of UiPath

A number of hedge funds have recently bought and sold shares of PATH. Vanguard Group Inc. boosted its position in UiPath by 3.0% in the first quarter. Vanguard Group Inc. now owns 48,061,096 shares of the company’s stock worth $495,029,000 after purchasing an additional 1,396,972 shares during the last quarter. TFG Asset Management GP Ltd increased its position in shares of UiPath by 53.3% during the 2nd quarter. TFG Asset Management GP Ltd now owns 13,722,244 shares of the company’s stock valued at $175,645,000 after purchasing an additional 4,772,244 shares during the last quarter. AQR Capital Management LLC lifted its stake in shares of UiPath by 76.0% in the 2nd quarter. AQR Capital Management LLC now owns 11,407,569 shares of the company’s stock worth $145,732,000 after purchasing an additional 4,926,341 shares during the period. Federated Hermes Inc. lifted its stake in shares of UiPath by 40.7% in the 2nd quarter. Federated Hermes Inc. now owns 8,048,321 shares of the company’s stock worth $103,019,000 after purchasing an additional 2,328,225 shares during the period. Finally, State Street Corp boosted its holdings in shares of UiPath by 5.0% in the second quarter. State Street Corp now owns 8,032,345 shares of the company’s stock worth $102,814,000 after buying an additional 378,851 shares during the last quarter. Hedge funds and other institutional investors 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.