UiPath (NYSE:PATH) Shares Down 1.6% on Insider Selling

Shares of UiPath, Inc. (NYSE:PATH) traded down 1.6% during mid-day trading on Wednesday after an insider sold shares in the company. The company traded as low as $18.23 and last traded at $18.67. 21,479,101 shares were traded during trading, an increase of 39% from the average session volume of 15,483,634 shares. The stock had previously closed at $18.98.

Specifically, CEO Daniel Dines sold 45,000 shares of the company’s stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $18.61, for a total transaction of $837,450.00. Following the sale, the chief executive officer owned 29,108,585 shares of the company’s stock, valued at $541,710,766.85. This represents a 0.15% 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, insider Brad Brubaker sold 27,580 shares of UiPath 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 completion of the transaction, the insider directly owned 635,359 shares of the company’s stock, valued at $11,785,909.45. The trade was a 4.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In related news, CEO Daniel Dines sold 45,000 shares of the stock in a transaction dated 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 approximately $560,040,367.85. This trade represents a 0.15% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Wall Street Analyst Weigh In

PATH has been the topic of several analyst reports. Wall Street Zen cut UiPath from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 6th. BMO Capital Markets boosted their target price on UiPath from $13.00 to $17.00 and gave the company a “market perform” rating in a research report on Thursday, December 4th. UBS Group restated a “neutral” rating on shares of UiPath in a research report on Thursday, December 4th. Morgan Stanley lifted their price objective on shares of UiPath from $15.00 to $19.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Finally, DA Davidson increased their target price on shares of UiPath from $12.00 to $15.00 and gave the company a “neutral” rating in a research note on Thursday, December 4th. One investment analyst has rated the stock with a Buy rating, fourteen have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus price target of $16.00.

UiPath Stock Performance

The company has a fifty day simple moving average of $15.29 and a two-hundred day simple moving average of $13.21. The firm has a market capitalization of $9.91 billion, a PE ratio of 44.45, a PEG ratio of 7.04 and a beta of 1.10.

UiPath (NYSE:PATH) last announced its quarterly earnings results on Wednesday, December 3rd. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.02. The business had revenue of $411.11 million for the quarter, compared to the consensus estimate of $392.46 million. UiPath had a return on equity of 3.73% and a net margin of 14.79%.The business’s revenue was up 15.9% compared to the same quarter last year. During the same period last year, the business posted $0.11 EPS. On average, equities analysts anticipate that UiPath, Inc. will post -0.17 earnings per share for the current fiscal year.

Institutional Trading of UiPath

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Inspire Investing LLC acquired a new position in UiPath in the 2nd quarter valued at $891,000. AlphaQuest LLC grew its stake in UiPath by 863.9% during the 2nd quarter. AlphaQuest LLC now owns 42,847 shares of the company’s stock valued at $548,000 after acquiring an additional 38,402 shares in the last quarter. Jump Financial LLC acquired a new stake in shares of UiPath in the first quarter valued at approximately $11,016,000. Deutsche Bank AG increased its stake in shares of UiPath by 3.8% in the 1st quarter. Deutsche Bank AG now owns 1,562,306 shares of the company’s stock worth $16,092,000 after acquiring an additional 56,721 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its stake in UiPath by 7.3% during the second quarter. Russell Investments Group Ltd. now owns 1,445,644 shares of the company’s stock worth $18,448,000 after purchasing an additional 98,058 shares during the period. Institutional investors and hedge funds 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.