UiPath (NYSE:PATH) Shares Up 2.6% – Time to Buy?

UiPath Inc. (NYSE:PATH) rose 2.6% during mid-day trading on Tuesday . The stock traded as high as $13.29 and last traded at $13.16. Approximately 1,579,685 shares were traded during trading, a decline of 81% from the average daily volume of 8,153,080 shares. The stock had previously closed at $12.83.

Analysts Set New Price Targets

Several brokerages have commented on PATH. Wells Fargo & Company lowered their price objective on shares of UiPath from $15.00 to $13.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 23rd. Barclays dropped their price target on UiPath from $16.00 to $15.00 and set an “equal weight” rating for the company in a research note on Friday. Royal Bank of Canada reiterated a “sector perform” rating and issued a $16.00 target price on shares of UiPath in a research report on Friday, December 6th. JPMorgan Chase & Co. upped their price objective on UiPath from $17.00 to $18.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Finally, BMO Capital Markets upped their price target on UiPath from $15.00 to $16.00 and gave the company a “market perform” rating in a research report on Friday, December 6th. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $17.44.

UiPath Stock Performance

The company has a market capitalization of $7.19 billion, a P/E ratio of -81.75 and a beta of 0.96. The business has a fifty day moving average of $13.57 and a 200-day moving average of $12.77.

Insider Buying and Selling at UiPath

In other news, 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 completion of the transaction, the chief financial officer now directly owns 856,538 shares of the company’s stock, valued at $11,186,386.28. This represents a 5.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Hitesh Ramani sold 25,000 shares of the business’s stock in a transaction on 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 transaction, the chief accounting officer now directly owns 269,421 shares in the company, valued at approximately $3,515,944.05. This represents a 8.49 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 22.37% of the company’s stock.

Institutional Trading of UiPath

Several hedge funds have recently added to or reduced their stakes in PATH. Future Financial Wealth Managment LLC bought a new stake in UiPath in the 3rd quarter valued at about $26,000. JTC Employer Solutions Trustee Ltd bought a new position in UiPath in the 3rd quarter worth about $26,000. Quarry LP grew its holdings in UiPath by 654.4% during the 3rd quarter. Quarry LP now owns 3,146 shares of the company’s stock valued at $40,000 after buying an additional 2,729 shares in the last quarter. Redwood Wealth Management Group LLC bought a new stake in shares of UiPath during the second quarter valued at about $43,000. Finally, Allspring Global Investments Holdings LLC increased its position in shares of UiPath by 124.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 4,098 shares of the company’s stock valued at $52,000 after buying an additional 2,274 shares during the period. Institutional investors own 62.50% of the company’s stock.

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.