UiPath (NYSE:PATH) Stock Price Up 0.6% – Should You Buy?

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

Analyst Ratings Changes

PATH has been the subject of a number of research reports. Barclays cut their target price on shares of UiPath from $16.00 to $15.00 and set an “equal weight” rating for the company in a research note on Friday, January 10th. Morgan Stanley lifted their target price on shares of UiPath from $15.00 to $16.00 and gave the stock an “equal weight” rating in a research note on Friday, December 6th. UBS Group assumed coverage on shares of UiPath in a research report on Thursday, December 12th. They issued a “sell” rating and a $14.00 target price for the company. Royal Bank of Canada reissued a “sector perform” rating and issued a $16.00 target price on shares of UiPath in a research note on Friday, December 6th. Finally, Needham & Company LLC reissued a “hold” rating on shares of UiPath in a research report on Wednesday, January 15th. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $17.44.

UiPath Stock Performance

The company has a market cap of $7.51 billion, a PE ratio of -85.47 and a beta of 0.96. The company’s 50-day simple moving average is $13.57 and its 200 day simple moving average is $12.79.

Insider Buying and Selling at UiPath

In related 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Hitesh Ramani sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $13.05, for a total transaction of $326,250.00. Following the sale, the chief accounting officer now directly owns 269,421 shares in the company, valued at approximately $3,515,944.05. The trade was a 8.49 % decrease in their position. The disclosure for this sale can be found here. 22.37% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. American Century Companies Inc. grew its position in UiPath by 9.0% during the 2nd quarter. American Century Companies Inc. now owns 110,910 shares of the company’s stock worth $1,406,000 after purchasing an additional 9,161 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of UiPath by 37.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,783,571 shares of the company’s stock worth $35,296,000 after buying an additional 754,519 shares during the last quarter. Mercer Global Advisors Inc. ADV purchased a new stake in shares of UiPath in the 2nd quarter worth about $164,000. Vanguard Personalized Indexing Management LLC increased its holdings in UiPath by 9.0% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 48,468 shares of the company’s stock valued at $615,000 after acquiring an additional 4,003 shares in the last quarter. Finally, Hsbc Holdings PLC grew its position in shares of UiPath by 122.0% in the second quarter. Hsbc Holdings PLC now owns 313,075 shares of the company’s stock valued at $3,941,000 after purchasing an additional 172,050 shares during the last quarter. 62.50% of the stock is owned by hedge funds and other institutional investors.

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.