Traders Purchase High Volume of Call Options on UiPath (NYSE:PATH)

UiPath Inc. (NYSE:PATH) was the target of some unusual options trading on Wednesday. Stock traders purchased 22,573 call options on the company. This represents an increase of approximately 34% compared to the typical volume of 16,845 call options.

Analyst Ratings Changes

A number of brokerages have recently weighed in on PATH. DA Davidson boosted their target price on UiPath from $13.00 to $15.00 and gave the stock a “neutral” rating in a research note on Friday, September 6th. Evercore ISI boosted their target price on UiPath from $13.00 to $16.00 and gave the stock an “in-line” rating in a research note on Friday, September 6th. JPMorgan Chase & Co. cut their target price on UiPath from $19.00 to $17.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Needham & Company LLC restated a “hold” rating on shares of UiPath in a research note on Wednesday, October 23rd. Finally, Wells Fargo & Company cut their target price on UiPath from $15.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 23rd. Sixteen analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $17.47.

Insider Buying and Selling at UiPath

In other news, CFO Ashim Gupta sold 47,671 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $12.07, for a total value of $575,388.97. Following the transaction, the chief financial officer now owns 849,917 shares in the company, valued at $10,258,498.19. The trade was a 5.31 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 22.37% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in PATH. Pacer Advisors Inc. bought a new position in shares of UiPath in the second quarter worth $69,180,000. Jacobs Levy Equity Management Inc. increased its holdings in shares of UiPath by 554.8% in the third quarter. Jacobs Levy Equity Management Inc. now owns 4,026,502 shares of the company’s stock worth $51,539,000 after purchasing an additional 3,411,562 shares during the period. Senvest Management LLC increased its holdings in shares of UiPath by 16.7% in the third quarter. Senvest Management LLC now owns 10,894,483 shares of the company’s stock worth $139,449,000 after purchasing an additional 1,559,500 shares during the period. Worldquant Millennium Advisors LLC purchased a new position in UiPath in the third quarter worth $19,071,000. Finally, Renaissance Technologies LLC purchased a new position in UiPath in the second quarter worth $13,280,000. Institutional investors own 62.50% of the company’s stock.

UiPath Price Performance

Shares of PATH stock opened at $15.33 on Thursday. The company’s fifty day simple moving average is $12.96 and its two-hundred day simple moving average is $12.83. UiPath has a 1 year low of $10.37 and a 1 year high of $27.87. The stock has a market capitalization of $8.43 billion, a price-to-earnings ratio of -78.20 and a beta of 0.94.

UiPath (NYSE:PATH) last issued its earnings results on Thursday, September 5th. The company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.01. UiPath had a negative net margin of 8.13% and a negative return on equity of 3.98%. The business had revenue of $316.00 million for the quarter, compared to analysts’ expectations of $303.69 million. During the same quarter in the previous year, the firm posted ($0.09) EPS. The business’s revenue for the quarter was up 10.0% compared to the same quarter last year. Equities research analysts anticipate that UiPath will post -0.23 EPS for the current year.

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.