UiPath (NYSE:PATH) Shares Down 7.4% on Insider Selling

Shares of UiPath, Inc. (NYSE:PATH) were down 7.4% on Monday after an insider sold shares in the company. The stock traded as low as $16.01 and last traded at $16.1250. Approximately 23,681,234 shares traded hands during mid-day trading, an increase of 52% from the average daily volume of 15,560,432 shares. The stock had previously closed at $17.42.

Specifically, CEO Daniel Dines sold 45,000 shares of the firm’s stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $17.30, for a total transaction of $778,500.00. Following the completion of the sale, the chief executive officer directly owned 28,928,585 shares in the company, valued at $500,464,520.50. This trade represents a 0.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Daniel Dines sold 45,000 shares of the company’s stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $17.91, for a total value of $805,950.00. Following the completion of the transaction, the chief executive officer directly owned 29,018,585 shares in the company, valued at $519,722,857.35. The trade was a 0.15% decrease in their position. The SEC filing for this sale provides additional information. In related news, CEO Daniel Dines sold 45,000 shares of UiPath stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $18.61, for a total transaction of $837,450.00. Following the completion of the sale, the chief executive officer directly owned 29,063,585 shares of the company’s stock, valued at approximately $540,873,316.85. This trade represents a 0.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Wall Street Analyst Weigh In

Several research analysts have weighed in on PATH shares. UBS Group reiterated a “neutral” rating on shares of UiPath in a research report on Thursday, December 4th. Cowen reaffirmed a “hold” rating on shares of UiPath in a research report on Thursday, December 4th. Wells Fargo & Company lifted their price objective on shares of UiPath from $12.00 to $14.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 4th. Evercore ISI increased their target price on shares of UiPath from $15.00 to $17.00 and gave the stock an “in-line” rating in a research report on Thursday, December 4th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of UiPath in a report on Monday. One investment analyst has rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $16.00.

UiPath Trading Down 1.0%

The firm has a market capitalization of $8.52 billion, a price-to-earnings ratio of 37.94, a PEG ratio of 4.82 and a beta of 1.10. The stock’s 50-day moving average is $15.54 and its 200-day moving average is $13.33.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC boosted its position in UiPath by 48.0% during the 2nd quarter. GAMMA Investing LLC now owns 2,989 shares of the company’s stock worth $38,000 after buying an additional 969 shares during the period. Covestor Ltd raised its stake in shares of UiPath by 17.7% during the third quarter. Covestor Ltd now owns 6,522 shares of the company’s stock valued at $87,000 after acquiring an additional 981 shares during the last quarter. Rockefeller Capital Management L.P. lifted its holdings in shares of UiPath by 0.8% during the second quarter. Rockefeller Capital Management L.P. now owns 123,329 shares of the company’s stock worth $1,579,000 after purchasing an additional 1,033 shares during the period. Wealthfront Advisers LLC grew its stake in shares of UiPath by 3.6% in the third quarter. Wealthfront Advisers LLC now owns 32,886 shares of the company’s stock worth $440,000 after purchasing an additional 1,149 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System increased its holdings in UiPath by 0.4% in the second quarter. State Board of Administration of Florida Retirement System now owns 313,946 shares of the company’s stock valued at $4,019,000 after purchasing an additional 1,190 shares during the period. Institutional investors and hedge funds own 62.50% of the company’s stock.

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.