UiPath (NYSE:PATH) Trading Down 1.4% on Insider Selling

UiPath Inc. (NYSE:PATH)’s share price was down 1.4% during trading on Tuesday following insider selling activity. The company traded as low as $13.41 and last traded at $13.62. Approximately 3,356,341 shares were traded during mid-day trading, a decline of 58% from the average daily volume of 8,039,564 shares. The stock had previously closed at $13.81.

Specifically, CFO Ashim Gupta sold 47,227 shares of the stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $13.06, for a total transaction of $616,784.62. Following the sale, the chief financial officer now owns 856,538 shares of the company’s stock, valued at $11,186,386.28. This trade represents a 5.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Hitesh Ramani sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $13.05, for a total transaction of $326,250.00. Following the completion of the transaction, the chief accounting officer now directly owns 269,421 shares of the company’s stock, 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.

Analyst Upgrades and Downgrades

PATH has been the topic of several recent analyst reports. Wells Fargo & Company reduced their target price on UiPath from $15.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 23rd. Morgan Stanley boosted their price target on UiPath from $15.00 to $16.00 and gave the company an “equal weight” rating in a research report on Friday, December 6th. UBS Group assumed coverage on UiPath in a research report on Thursday, December 12th. They issued a “sell” rating and a $14.00 target price for the company. JPMorgan Chase & Co. lifted their price objective on UiPath from $17.00 to $18.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Finally, Barclays raised their price objective on UiPath from $15.00 to $16.00 and gave the stock an “equal weight” rating in a research note on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $17.50.

UiPath Stock Performance

The company has a market capitalization of $7.25 billion, a price-to-earnings ratio of -82.44 and a beta of 0.96. The firm’s 50 day simple moving average is $13.51 and its 200-day simple moving average is $12.75.

Institutional Trading of UiPath

A number of hedge funds have recently made changes to their positions in PATH. Senvest Management LLC boosted its stake in shares of UiPath by 16.7% during the 3rd quarter. Senvest Management LLC now owns 10,894,483 shares of the company’s stock valued at $139,449,000 after buying an additional 1,559,500 shares during the period. Geode Capital Management LLC increased its holdings in UiPath by 7.2% in the third quarter. Geode Capital Management LLC now owns 7,312,068 shares of the company’s stock worth $93,619,000 after buying an additional 493,502 shares during the last quarter. Pacer Advisors Inc. bought a new position in UiPath during the second quarter valued at about $69,180,000. Jacobs Levy Equity Management Inc. boosted its position in UiPath by 554.8% during 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. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of UiPath by 11.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,890,360 shares of the company’s stock worth $36,997,000 after purchasing an additional 291,171 shares during the last quarter. 62.50% of the stock is owned by hedge funds and other institutional investors.

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.