UiPath (NYSE:PATH) Trading 1.3% Higher – Here’s Why

UiPath, Inc. (NYSE:PATH) shares were up 1.3% during trading on Friday . The company traded as high as $16.24 and last traded at $16.1440. Approximately 18,461,844 shares traded hands during mid-day trading, an increase of 18% from the average daily volume of 15,586,526 shares. The stock had previously closed at $15.94.

Analysts Set New Price Targets

A number of research firms have issued reports on PATH. Needham & Company LLC reiterated a “hold” rating on shares of UiPath in a report on Thursday, December 4th. Weiss Ratings reiterated a “hold (c)” rating on shares of UiPath in a research note on Monday. Canaccord Genuity Group lifted their price target on shares of UiPath from $15.00 to $19.00 and gave the company a “buy” rating in a research report on Thursday, December 4th. Morgan Stanley upped their price objective on shares of UiPath from $15.00 to $19.00 and gave the stock an “equal weight” rating in a report on Tuesday, December 9th. Finally, Wells Fargo & Company lifted their target price on shares of UiPath from $12.00 to $14.00 and gave the company an “equal weight” rating in a report on Thursday, December 4th. One analyst has rated the stock with a Buy rating, fifteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, UiPath presently has a consensus rating of “Hold” and a consensus price target of $16.00.

UiPath Trading Up 1.3%

The firm has a market capitalization of $8.63 billion, a PE ratio of 38.44, a P/E/G ratio of 4.76 and a beta of 1.10. The firm has a 50 day simple moving average of $15.50 and a 200 day simple moving average of $13.36.

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

Insider Transactions at UiPath

In related news, CEO Daniel Dines sold 45,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 17th. The shares were sold at an average price of $16.11, for a total value of $724,950.00. Following the sale, the chief executive officer owned 28,838,585 shares in the company, valued at approximately $464,589,604.35. This trade represents a 0.16% 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, insider Brad Brubaker sold 27,580 shares of UiPath stock in a transaction that occurred on Friday, December 5th. The stock was sold at an average price of $18.55, for a total transaction of $511,609.00. Following the completion of the sale, the insider directly owned 635,359 shares of the company’s stock, valued at approximately $11,785,909.45. This trade represents a 4.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 2,281,116 shares of company stock worth $35,177,153. Insiders own 23.19% of the company’s stock.

Hedge Funds Weigh In On UiPath

Institutional investors and hedge funds have recently modified their holdings of the company. Twin Peaks Wealth Advisors LLC bought a new stake in shares of UiPath in the second quarter worth $28,000. AdvisorNet Financial Inc boosted its position in UiPath by 320.4% in the second quarter. AdvisorNet Financial Inc now owns 2,476 shares of the company’s stock worth $32,000 after purchasing an additional 1,887 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of UiPath by 48.0% during the 2nd quarter. GAMMA Investing LLC now owns 2,989 shares of the company’s stock valued at $38,000 after purchasing an additional 969 shares during the period. IFP Advisors Inc increased its position in shares of UiPath by 508.0% during 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 last quarter. Finally, Brooklyn Investment Group lifted its stake in shares of UiPath by 314.3% in the 1st quarter. Brooklyn Investment Group now owns 4,508 shares of the company’s stock worth $46,000 after purchasing an additional 3,420 shares during the period. 62.50% of the stock is currently owned by hedge funds and other institutional investors.

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. Its platform's embedded AI, ML, and NLP capabilities improve decisioning and information processing; emulate human behavior allows organizations to address a myriad of use cases; emulate human behavior allows organizations to address a myriad of use cases; multi-tenant platform enterprise deployment with security and governance and Automation Cloud, which enables customers to begin automating without the need to provision infrastructure, install applications, or perform additional configurations; intuitive interface and low-code, drag-and-drop functionality; signed to enable people and automations to work together; and tracks, measures, and forecasts the performance of automations, enables customers to gain powerful insights and generate key performance indicators with actionable metric.