UiPath (NYSE:PATH) Shares Up 2.6% – Here’s What Happened

UiPath Inc. (NYSE:PATH) shares shot up 2.6% during trading on Tuesday . The company traded as high as $13.29 and last traded at $13.16. 1,579,685 shares traded hands during trading, a decline of 81% from the average session volume of 8,153,080 shares. The stock had previously closed at $12.83.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on PATH shares. JPMorgan Chase & Co. increased their price objective on UiPath from $17.00 to $18.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. UBS Group started coverage on UiPath in a report on Thursday, December 12th. They issued a “sell” rating and a $14.00 price target on the stock. Morgan Stanley boosted their price objective on UiPath from $15.00 to $16.00 and gave the stock an “equal weight” rating in a report on Friday, December 6th. BMO Capital Markets raised their target price on shares of UiPath from $15.00 to $16.00 and gave the company a “market perform” rating in a research note on Friday, December 6th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $16.00 price target on shares of UiPath in a research note on Friday, December 6th. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $17.44.

UiPath Price Performance

The stock has a market cap of $7.19 billion, a PE ratio of -81.75 and a beta of 0.96. The business has a 50 day moving average price of $13.57 and a two-hundred day moving average price of $12.77.

Insider Activity

In other news, CFO Ashim Gupta sold 47,227 shares of UiPath stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $13.06, for a total transaction of $616,784.62. Following the sale, the chief financial officer now owns 856,538 shares of the company’s stock, valued at approximately $11,186,386.28. The trade was a 5.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Hitesh Ramani sold 25,000 shares of the stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $13.05, for a total transaction of $326,250.00. Following the completion of the transaction, the chief accounting officer now directly owns 269,421 shares of the company’s stock, valued at approximately $3,515,944.05. The trade was a 8.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 22.37% of the company’s stock.

Institutional Investors Weigh In On UiPath

Hedge funds have recently made changes to their positions in the company. 180 Wealth Advisors LLC boosted its position in shares of UiPath by 4.0% in the 4th quarter. 180 Wealth Advisors LLC now owns 485,354 shares of the company’s stock worth $6,169,000 after purchasing an additional 18,493 shares in the last quarter. Pallas Capital Advisors LLC boosted its holdings in UiPath by 9.7% in the fourth quarter. Pallas Capital Advisors LLC now owns 64,109 shares of the company’s stock worth $815,000 after acquiring an additional 5,661 shares in the last quarter. Claro Advisors LLC purchased a new stake in shares of UiPath in the fourth quarter worth $142,000. Diversified Trust Co bought a new position in shares of UiPath during the fourth quarter valued at $715,000. Finally, Everence Capital Management Inc. purchased a new position in shares of UiPath in the 4th quarter worth about $241,000. 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.