UiPath Target of Unusually High Options Trading (NYSE:PATH)

UiPath, Inc. (NYSE:PATH) was the recipient of unusually large options trading on Wednesday. Stock investors purchased 28,800 call options on the company. This is an increase of 59% compared to the typical volume of 18,108 call options.

Analysts Set New Price Targets

PATH has been the topic of several research analyst reports. DA Davidson upgraded UiPath to a “hold” rating in a research note on Monday, June 9th. Morgan Stanley lifted their target price on shares of UiPath from $12.00 to $15.00 and gave the company an “equal weight” rating in a research note on Monday, June 2nd. Mizuho dropped their target price on shares of UiPath from $12.00 to $11.00 and set a “neutral” rating for the company in a research report on Tuesday, April 15th. Wells Fargo & Company reissued an “equal weight” rating on shares of UiPath in a research report on Friday, May 30th. Finally, Evercore ISI raised their target price on shares of UiPath from $11.00 to $15.00 and gave the company an “in-line” rating in a research note on Friday, May 30th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $13.83.

Insider Activity

In related news, CFO Ashim Gupta sold 56,322 shares of the company’s stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $12.72, for a total value of $716,415.84. Following the completion of the sale, the chief financial officer owned 859,991 shares in the company, valued at $10,939,085.52. This represents a 6.15% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Daniel Dines sold 45,000 shares of the business’s stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $12.43, for a total transaction of $559,350.00. Following the completion of the transaction, the chief executive officer directly owned 5,058,376 shares in the company, valued at $62,875,613.68. This represents a 0.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 650,117 shares of company stock worth $8,159,744. 23.19% of the stock is owned by insiders.

Institutional Investors Weigh In On UiPath

Hedge funds and other institutional investors have recently made changes to their positions in the company. Norges Bank acquired a new position in UiPath in the 4th quarter valued at about $71,191,000. Federated Hermes Inc. raised its holdings in UiPath by 479.3% during the first quarter. Federated Hermes Inc. now owns 5,720,096 shares of the company’s stock worth $58,917,000 after purchasing an additional 4,732,712 shares in the last quarter. Senvest Management LLC boosted its holdings in shares of UiPath by 29.2% in the fourth quarter. Senvest Management LLC now owns 14,074,783 shares of the company’s stock worth $178,890,000 after buying an additional 3,180,300 shares during the period. Acadian Asset Management LLC increased its position in UiPath by 222.6% in the 1st quarter. Acadian Asset Management LLC now owns 4,241,047 shares of the company’s stock worth $43,667,000 after purchasing an additional 2,926,263 shares during the last quarter. Finally, AQR Capital Management LLC boosted its holdings in UiPath by 45.3% during the fourth quarter. AQR Capital Management LLC now owns 6,646,320 shares of the company’s stock valued at $84,209,000 after acquiring an additional 2,072,089 shares during the period. Institutional investors and hedge funds own 62.50% of the company’s stock.

UiPath Stock Performance

PATH stock opened at $12.39 on Thursday. UiPath has a 52 week low of $9.38 and a 52 week high of $15.93. The firm has a market cap of $6.63 billion, a P/E ratio of -103.22, a P/E/G ratio of 16.22 and a beta of 1.04. The firm’s fifty day moving average is $12.75 and its 200 day moving average is $12.46.

UiPath (NYSE:PATH) last posted its earnings results on Thursday, May 29th. The company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.01. The business had revenue of $356.62 million during the quarter, compared to the consensus estimate of $332.17 million. UiPath had a negative net margin of 4.65% and a negative return on equity of 3.05%. The firm’s revenue was up 6.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.13 EPS. As a group, analysts forecast that UiPath will post -0.17 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.