UiPath Sees Unusually High Options Volume (NYSE:PATH)

UiPath Inc. (NYSE:PATH – Get Rating) was the recipient of unusually large options trading on Thursday. Investors purchased 21,597 call options on the stock. This is an increase of approximately 350% compared to the typical volume of 4,800 call options.

Insider Transactions at UiPath

In related news, CFO Ashim Gupta sold 40,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 15th. The stock was sold at an average price of $16.61, for a total transaction of $664,400.00. Following the completion of the transaction, the chief financial officer now owns 1,359,051 shares of the company’s stock, valued at approximately $22,573,837.11. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 31.88% of the company’s stock.

Hedge Funds Weigh In On UiPath

A number of institutional investors and hedge funds have recently modified their holdings of PATH. Raymond James Financial Services Advisors Inc. boosted its stake in shares of UiPath by 3.8% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 40,993 shares of the healthcare company’s stock worth $885,000 after buying an additional 1,506 shares during the last quarter. MetLife Investment Management LLC purchased a new position in shares of UiPath in the 1st quarter worth $184,000. BlackRock Inc. lifted its position in UiPath by 1.9% during the first quarter. BlackRock Inc. now owns 5,316,635 shares of the healthcare company’s stock valued at $114,786,000 after purchasing an additional 99,242 shares in the last quarter. Dimensional Fund Advisors LP purchased a new position in UiPath during the first quarter valued at $534,000. Finally, Canada Pension Plan Investment Board purchased a new position in UiPath during the first quarter valued at $259,000. 56.40% of the stock is currently owned by hedge funds and other institutional investors.

UiPath Price Performance

PATH stock opened at $17.22 on Friday. The company has a market cap of $9.52 billion, a P/E ratio of -25.70 and a beta of 0.60. UiPath has a 1 year low of $10.40 and a 1 year high of $31.88. The stock’s fifty day moving average price is $14.96 and its 200-day moving average price is $13.62.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Needham & Company LLC reaffirmed a “buy” rating and set a $20.00 price objective on shares of UiPath in a research report on Thursday. Morgan Stanley raised their price objective on UiPath from $15.00 to $16.00 and gave the company an “equal weight” rating in a research report on Thursday. Mizuho raised their price objective on UiPath from $15.00 to $16.00 in a research report on Thursday. Evercore ISI cut their target price on UiPath to $17.00 in a research note on Friday, December 2nd. Finally, Wells Fargo & Company increased their target price on UiPath from $16.00 to $18.00 and gave the company an “overweight” rating in a research note on Friday, December 2nd. Eight research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $18.81.

UiPath Company Profile

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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, and Japan. The company offers a suite of interrelated software to build, manage, run, engage, measure, and govern automation within the organization.