UiPath (NYSE:PATH) Stock Price Up 0.6% – Time to Buy?

Shares of UiPath Inc. (NYSE:PATH) were up 0.6% on Thursday . The company traded as high as $13.62 and last traded at $13.53. Approximately 1,283,209 shares were traded during mid-day trading, a decline of 83% from the average daily volume of 7,747,013 shares. The stock had previously closed at $13.45.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on PATH shares. BMO Capital Markets lifted their price objective on UiPath from $15.00 to $16.00 and gave the stock a “market perform” rating in a research note on Friday, December 6th. Morgan Stanley boosted their target price on UiPath from $15.00 to $16.00 and gave the stock an “equal weight” rating in a research report on Friday, December 6th. Barclays cut their price target on shares of UiPath from $16.00 to $15.00 and set an “equal weight” rating on the stock in a research report on Friday, January 10th. UBS Group initiated coverage on shares of UiPath in a research note on Thursday, December 12th. They issued a “sell” rating and a $14.00 target price for the company. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $16.00 price target on shares of UiPath in a research report on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $17.44.

UiPath Trading Up 0.9 %

The firm’s 50 day simple moving average is $13.62 and its 200-day simple moving average is $12.81. The stock has a market capitalization of $7.65 billion, a price-to-earnings ratio of -86.97 and a beta of 0.96.

Insider Buying and Selling

In related news, CAO Hitesh Ramani sold 25,000 shares of UiPath stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $13.05, for a total transaction of $326,250.00. Following the completion of the transaction, the chief accounting officer now owns 269,421 shares in the company, valued at approximately $3,515,944.05. This trade represents a 8.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Ashim Gupta sold 47,227 shares of the company’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $13.06, for a total value of $616,784.62. Following the completion of the sale, the chief financial officer now owns 856,538 shares in the company, valued at $11,186,386.28. This represents a 5.23 % decrease in their position. The disclosure for this sale can be found here. 22.37% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in PATH. Ontario Teachers Pension Plan Board boosted its holdings in shares of 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 acquiring an additional 62,650 shares during the period. D.A. Davidson & CO. boosted its stake in UiPath by 60.1% in the 3rd quarter. D.A. Davidson & CO. now owns 557,667 shares of the company’s stock valued at $7,138,000 after purchasing an additional 209,300 shares during the period. Stifel Financial Corp grew its holdings in UiPath by 30.1% in the 3rd quarter. Stifel Financial Corp now owns 323,818 shares of the company’s stock valued at $4,145,000 after buying an additional 74,959 shares in the last quarter. Senvest Management LLC increased its position in UiPath by 16.7% during the 3rd quarter. Senvest Management LLC now owns 10,894,483 shares of the company’s stock worth $139,449,000 after buying an additional 1,559,500 shares during the period. Finally, Quantbot Technologies LP increased its position in UiPath by 667.7% during the 3rd quarter. Quantbot Technologies LP now owns 101,718 shares of the company’s stock worth $1,302,000 after buying an additional 88,468 shares during the period. 62.50% of the stock is 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.