UiPath (NYSE:PATH) Stock Price Down 1.7% on Insider Selling

UiPath, Inc. (NYSE:PATH)’s stock price traded down 1.7% on Tuesday following insider selling activity. The company traded as low as $18.83 and last traded at $18.9680. 17,889,075 shares changed hands during trading, an increase of 16% from the average session volume of 15,457,474 shares. The stock had previously closed at $19.29.

Specifically, insider Brad Brubaker sold 27,580 shares of the firm’s stock in a transaction on Friday, December 5th. The stock was sold at an average price of $18.55, for a total transaction of $511,609.00. Following the sale, the insider owned 635,359 shares in the company, valued at $11,785,909.45. This trade represents a 4.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Daniel Dines sold 45,000 shares of the company’s stock in a transaction on Monday, December 8th. The shares were sold at an average price of $19.21, for a total value of $864,450.00. Following the completion of the transaction, the chief executive officer owned 29,153,585 shares of the company’s stock, valued at $560,040,367.85. The trade was a 0.15% decrease in their ownership of the stock. The SEC filing for this sale provides additional information.

Analysts Set New Price Targets

Several analysts have commented on PATH shares. Barclays lifted their price target on UiPath from $14.00 to $16.00 and gave the company an “equal weight” rating in a report on Thursday, December 4th. DA Davidson boosted their target price on shares of UiPath from $12.00 to $15.00 and gave the company a “neutral” rating in a report on Thursday, December 4th. Wells Fargo & Company increased their price target on shares of UiPath from $12.00 to $14.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 4th. Truist Financial set a $17.00 price target on shares of UiPath in a report on Thursday, December 4th. Finally, Wall Street Zen cut shares of UiPath from a “strong-buy” rating to a “buy” rating in a research note on Saturday. One equities research analyst has rated the stock with a Buy rating, fourteen have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, UiPath currently has an average rating of “Reduce” and a consensus target price of $15.77.

UiPath Price Performance

The firm has a 50-day simple moving average of $15.18 and a 200 day simple moving average of $13.17. The company has a market capitalization of $10.07 billion, a PE ratio of 45.16, a price-to-earnings-growth ratio of 7.16 and a beta of 1.10.

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

Institutional Trading of UiPath

A number of hedge funds have recently made changes to their positions in PATH. Hudson Bay Capital Management LP bought a new position in shares of UiPath during the second quarter worth about $102,559,000. Norges Bank acquired a new stake in UiPath during the second quarter valued at approximately $68,451,000. AQR Capital Management LLC lifted its holdings in UiPath by 76.0% during the 2nd quarter. AQR Capital Management LLC now owns 11,407,569 shares of the company’s stock worth $145,732,000 after buying an additional 4,926,341 shares during the last quarter. TFG Asset Management GP Ltd lifted its holdings in UiPath by 53.3% during the 2nd quarter. TFG Asset Management GP Ltd now owns 13,722,244 shares of the company’s stock worth $175,645,000 after buying an additional 4,772,244 shares during the last quarter. Finally, Nomura Holdings Inc. acquired a new position in shares of UiPath in the 2nd quarter worth approximately $59,561,000. Hedge funds and other institutional investors own 62.50% of the company’s stock.

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.