UiPath (NYSE:PATH) Shares Down 1.7% After Insider Selling

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

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

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on PATH shares. BMO Capital Markets raised their price target on shares of UiPath from $13.00 to $17.00 and gave the stock a “market perform” rating in a research note on Thursday, December 4th. Zacks Research lowered UiPath from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 4th. Cowen restated a “hold” rating on shares of UiPath in a research note on Thursday, December 4th. Truist Financial set a $17.00 price target on UiPath in a research report on Thursday, December 4th. Finally, Needham & Company LLC reissued a “hold” rating on shares of UiPath in a report on Thursday, December 4th. One investment analyst has rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Reduce” and a consensus price target of $16.00.

UiPath Trading Down 1.6%

The stock 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 cap of $9.91 billion, a PE ratio of 44.45, a price-to-earnings-growth ratio of 7.04 and a beta of 1.10.

UiPath (NYSE:PATH) last released its quarterly earnings data on Wednesday, December 3rd. The company reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.02. The company had revenue of $411.11 million during the quarter, compared to analyst estimates of $392.46 million. UiPath had a net margin of 14.79% and a return on equity of 3.73%. UiPath’s revenue was up 15.9% compared to the same quarter last year. During the same period last year, the business earned $0.11 earnings per share. As a group, sell-side analysts predict that UiPath, Inc. will post -0.17 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Twin Peaks Wealth Advisors LLC bought a new position in shares of UiPath in the second quarter worth $28,000. AdvisorNet Financial Inc increased its stake in UiPath by 320.4% in the 2nd quarter. AdvisorNet Financial Inc now owns 2,476 shares of the company’s stock worth $32,000 after acquiring an additional 1,887 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of UiPath by 48.0% in the 2nd quarter. GAMMA Investing LLC now owns 2,989 shares of the company’s stock valued at $38,000 after acquiring an additional 969 shares in the last quarter. IFP Advisors Inc raised its holdings in shares of UiPath by 508.0% in the 2nd quarter. IFP Advisors Inc now owns 3,283 shares of the company’s stock valued at $42,000 after acquiring an additional 2,743 shares in the last quarter. Finally, Brooklyn Investment Group boosted its position in shares of UiPath by 314.3% during the 1st quarter. Brooklyn Investment Group now owns 4,508 shares of the company’s stock valued at $46,000 after acquiring an additional 3,420 shares during the last quarter. 62.50% of the stock is currently owned by hedge funds and other institutional investors.

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.