UiPath (NYSE:PATH) Shares Up 7% – Here’s What Happened

Shares of UiPath, Inc. (NYSE:PATH) were up 7% on Friday . The stock traded as high as $12.95 and last traded at $12.92. Approximately 34,255,943 shares changed hands during mid-day trading, an increase of 21% from the average daily volume of 28,312,072 shares. The stock had previously closed at $12.08.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on PATH shares. Weiss Ratings restated a “hold (c)” rating on shares of UiPath in a report on Monday, December 29th. Mizuho boosted their price objective on shares of UiPath from $14.00 to $15.00 and gave the stock a “neutral” rating in a research note on Thursday, December 4th. Wells Fargo & Company upped their price objective on shares of UiPath from $12.00 to $14.00 and gave the stock an “equal weight” rating in a report on Thursday, December 4th. Barclays lifted their target price on shares of UiPath from $16.00 to $18.00 and gave the company an “equal weight” rating in a report on Monday, January 12th. Finally, Truist Financial set a $17.00 price target on UiPath in a research note on Thursday, December 4th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $16.00.

UiPath Stock Performance

The business’s fifty day moving average price is $15.72 and its 200-day moving average price is $13.99. The stock has a market cap of $6.91 billion, a PE ratio of 30.76, a P/E/G ratio of 1.74 and a beta of 1.07.

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

Insider Activity

In related news, CFO Ashim Gupta sold 67,468 shares of the firm’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $16.10, for a total value of $1,086,234.80. Following the transaction, the chief financial officer owned 557,028 shares of the company’s stock, valued at approximately $8,968,150.80. This trade represents a 10.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Daniel Dines sold 45,000 shares of the business’s stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $19.21, for a total transaction of $864,450.00. Following the sale, the chief executive officer owned 29,153,585 shares of the company’s stock, valued at $560,040,367.85. This trade represents a 0.15% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 950,048 shares of company stock worth $15,881,744 over the last three months. Insiders own 23.19% of the company’s stock.

Institutional Investors Weigh In On UiPath

Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in UiPath by 2.5% in the 4th quarter. Vanguard Group Inc. now owns 49,114,941 shares of the company’s stock worth $804,994,000 after purchasing an additional 1,219,057 shares during the period. TFG Asset Management GP Ltd increased its holdings in UiPath by 53.3% in the 2nd quarter. TFG Asset Management GP Ltd now owns 13,722,244 shares of the company’s stock worth $175,645,000 after acquiring an additional 4,772,244 shares in the last quarter. AQR Capital Management LLC raised its stake in UiPath by 76.0% during the 2nd quarter. AQR Capital Management LLC now owns 11,407,569 shares of the company’s stock worth $145,732,000 after acquiring an additional 4,926,341 shares during the period. Federated Hermes Inc. lifted its holdings in UiPath by 40.7% during the second quarter. Federated Hermes Inc. now owns 8,048,321 shares of the company’s stock valued at $103,019,000 after purchasing an additional 2,328,225 shares in the last quarter. Finally, State Street Corp boosted its position in shares of UiPath by 5.0% in the second quarter. State Street Corp now owns 8,032,345 shares of the company’s stock worth $102,814,000 after purchasing an additional 378,851 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. 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.