UiPath (NYSE:PATH) Shares Down 3.6% on Insider Selling

UiPath, Inc. (NYSE:PATH)’s stock price fell 3.6% during mid-day trading on Thursday after an insider sold shares in the company. The stock traded as low as $17.92 and last traded at $18.02. 22,249,637 shares traded hands during trading, an increase of 43% from the average session volume of 15,508,219 shares. The stock had previously closed at $18.69.

Specifically, CEO Daniel Dines sold 45,000 shares of UiPath stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $18.61, for a total transaction of $837,450.00. Following the sale, the chief executive officer directly owned 29,108,585 shares of the company’s stock, valued at approximately $541,710,766.85. The trade was a 0.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Brad Brubaker sold 27,580 shares of the stock in a transaction that occurred on Friday, December 5th. The shares were sold at an average price of $18.55, for a total transaction of $511,609.00. Following the completion of the transaction, the insider directly owned 635,359 shares of the company’s stock, valued at approximately $11,785,909.45. The trade was a 4.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In other UiPath news, CEO Daniel Dines sold 45,000 shares of the firm’s stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $19.21, for a total value of $864,450.00. Following the sale, the chief executive officer owned 29,153,585 shares in the company, valued at $560,040,367.85. This trade represents a 0.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on PATH shares. Weiss Ratings upgraded UiPath from a “sell (d+)” rating to a “hold (c)” rating in a research note on Tuesday. Wells Fargo & Company upped their target price on UiPath from $12.00 to $14.00 and gave the stock an “equal weight” rating in a report on Thursday, December 4th. BMO Capital Markets lifted their price target on UiPath from $13.00 to $17.00 and gave the company a “market perform” rating in a research note on Thursday, December 4th. Zacks Research cut UiPath from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 4th. Finally, Wall Street Zen lowered shares of UiPath from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 6th. One research analyst has rated the stock with a Buy rating, fifteen have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, UiPath has an average rating of “Hold” and a consensus target price of $16.00.

UiPath Price Performance

The stock has a 50-day moving average price of $15.29 and a 200-day moving average price of $13.21. The company has a market capitalization of $9.57 billion, a P/E ratio of 42.90, a P/E/G ratio of 7.04 and a beta of 1.10.

UiPath (NYSE:PATH) last announced its earnings results on Wednesday, December 3rd. The company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.14 by $0.02. UiPath had a return on equity of 3.73% and a net margin of 14.79%.The business had revenue of $411.11 million for the quarter, compared to analysts’ expectations of $392.46 million. During the same period in the prior year, the business posted $0.11 earnings per share. The firm’s revenue was up 15.9% on a year-over-year basis. Sell-side analysts anticipate that UiPath, Inc. will post -0.17 EPS for the current fiscal year.

Institutional Investors Weigh In On UiPath

Several large investors have recently modified their holdings of PATH. Twin Peaks Wealth Advisors LLC bought a new position in UiPath during the second quarter worth $28,000. AdvisorNet Financial Inc grew its holdings in UiPath by 320.4% during the 2nd quarter. AdvisorNet Financial Inc now owns 2,476 shares of the company’s stock worth $32,000 after acquiring an additional 1,887 shares during the period. GAMMA Investing LLC raised its position in shares of UiPath by 48.0% in the 2nd quarter. GAMMA Investing LLC now owns 2,989 shares of the company’s stock worth $38,000 after acquiring an additional 969 shares in the last quarter. IFP Advisors Inc lifted its stake in shares of UiPath by 508.0% in the 2nd quarter. IFP Advisors Inc now owns 3,283 shares of the company’s stock valued at $42,000 after purchasing an additional 2,743 shares during the period. Finally, Bayforest Capital Ltd lifted its stake in shares of UiPath by 852.4% in the 2nd quarter. Bayforest Capital Ltd now owns 4,143 shares of the company’s stock valued at $53,000 after purchasing an additional 3,708 shares during the period. 62.50% of the stock is currently owned by institutional investors and hedge funds.

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.