UiPath (NYSE:PATH) Hits New 12-Month High – What’s Next?

UiPath, Inc. (NYSE:PATH) hit a new 52-week high during mid-day trading on Friday . The company traded as high as $18.98 and last traded at $18.52, with a volume of 7503846 shares changing hands. The stock had previously closed at $18.48.

Wall Street Analyst Weigh In

Several research firms recently commented on PATH. Wall Street Zen lowered shares of UiPath from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Royal Bank Of Canada boosted their price target on shares of UiPath from $14.00 to $16.00 and gave the company a “sector perform” rating in a report on Thursday. Truist Financial set a $17.00 price objective on UiPath in a research report on Thursday. Barclays boosted their price objective on shares of UiPath from $14.00 to $16.00 and gave the company an “equal weight” rating in a research report on Thursday. Finally, Cowen reissued a “hold” rating on shares of UiPath in a research report on Thursday. One equities research analyst has rated the stock with a Buy rating, fourteen have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, UiPath currently has an average rating of “Reduce” and a consensus target price of $15.46.

UiPath Trading Up 1.0%

The firm has a fifty day simple moving average of $14.93 and a 200-day simple moving average of $13.07. The stock has a market cap of $9.91 billion, a price-to-earnings ratio of 44.45, a P/E/G ratio of 6.91 and a beta of 1.10.

UiPath (NYSE:PATH) last issued its earnings results on Wednesday, December 3rd. The company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.14 by $0.02. The company had revenue of $411.11 million during the quarter, compared to analysts’ expectations of $392.46 million. UiPath had a net margin of 14.79% and a return on equity of 3.83%. The business’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.11 EPS. On average, equities analysts predict that UiPath, Inc. will post -0.17 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Ashim Gupta sold 240,874 shares of the business’s stock in a transaction that occurred on Thursday, October 9th. The stock was sold at an average price of $17.28, for a total transaction of $4,162,302.72. Following the completion of the sale, the chief financial officer owned 696,117 shares in the company, valued at $12,028,901.76. The trade was a 25.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Daniel Dines sold 122,734 shares of the company’s stock in a transaction on Wednesday, October 8th. The stock was sold at an average price of $14.89, for a total transaction of $1,827,509.26. Following the transaction, the chief executive officer owned 613,670 shares of the company’s stock, valued at $9,137,546.30. This trade represents a 16.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 2,319,002 shares of company stock worth $34,094,875 over the last 90 days. 23.19% of the stock is owned by company insiders.

Institutional Investors Weigh In On UiPath

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PATH. Inspire Investing LLC purchased a new stake in shares of UiPath during the 2nd quarter worth approximately $891,000. AlphaQuest LLC lifted its holdings in shares of UiPath by 863.9% in the 2nd quarter. AlphaQuest LLC now owns 42,847 shares of the company’s stock worth $548,000 after buying an additional 38,402 shares during the period. Jump Financial LLC bought a new position in shares of UiPath during the first quarter valued at approximately $11,016,000. Deutsche Bank AG boosted its position in UiPath by 3.8% during the first quarter. Deutsche Bank AG now owns 1,562,306 shares of the company’s stock valued at $16,092,000 after purchasing an additional 56,721 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its stake in shares of UiPath by 7.3% during the 2nd quarter. Russell Investments Group Ltd. now owns 1,445,644 shares of the company’s stock worth $18,448,000 after acquiring an additional 98,058 shares in the last quarter. 62.50% of the stock is currently owned by institutional investors.

About UiPath

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.