UiPath (NYSE:PATH) Trading Down 4% on Insider Selling

UiPath, Inc. (NYSE:PATH)’s share price dropped 4% during mid-day trading on Thursday after an insider sold shares in the company. The company traded as low as $14.75 and last traded at $14.76. Approximately 32,102,970 shares changed hands during mid-day trading, an increase of 12% from the average daily volume of 28,618,209 shares. The stock had previously closed at $15.37.

Specifically, CEO Daniel Dines sold 45,000 shares of the stock in a transaction dated Wednesday, January 14th. The shares were sold at an average price of $15.68, for a total value of $705,600.00. Following the completion of the sale, the chief executive officer owned 28,028,585 shares in the company, valued at approximately $439,488,212.80. This trade represents a 0.16% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Daniel Dines sold 45,000 shares of the business’s stock in a transaction that occurred on Monday, January 12th. The stock was sold at an average price of $16.61, for a total value of $747,450.00. Following the completion of the transaction, the chief executive officer owned 28,118,585 shares in the company, valued at $467,049,696.85. The trade was a 0.16% decrease in their position. 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 that occurred on Friday, January 9th. The stock was sold at an average price of $17.17, for a total transaction of $772,650.00. Following the completion of the sale, the chief executive officer directly owned 28,208,585 shares of the company’s stock, valued at approximately $484,341,404.45. This trade represents a 0.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Analyst Upgrades and Downgrades

PATH has been the subject of a number of recent analyst reports. Royal Bank Of Canada reduced their price objective on UiPath from $19.00 to $17.00 and set a “sector perform” rating for the company in a research note on Monday, January 5th. Canaccord Genuity Group boosted their price target on shares of UiPath from $15.00 to $19.00 and gave the company a “buy” rating in a research report on Thursday, December 4th. DA Davidson increased their price objective on UiPath from $12.00 to $15.00 and gave the stock a “neutral” rating in a report on Thursday, December 4th. Wells Fargo & Company raised their price target on shares of UiPath from $12.00 to $14.00 and gave the company an “equal weight” rating in a report on Thursday, December 4th. Finally, Cowen reaffirmed a “hold” rating on shares of UiPath in a research note on Thursday, December 4th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $16.00.

UiPath Stock Performance

The firm has a market capitalization of $7.66 billion, a P/E ratio of 34.10, a PEG ratio of 4.34 and a beta of 1.08. The company has a 50-day simple moving average of $15.73 and a two-hundred day simple moving average of $13.90.

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

Hedge Funds Weigh In On UiPath

Several large investors have recently modified their holdings of the stock. Udine Wealth Management Inc. bought a new position in shares of UiPath during the 4th quarter valued at $1,581,000. Matauro LLC bought a new stake in shares of UiPath in the fourth quarter worth $1,966,000. Victory Financial Group LLC purchased a new stake in UiPath during the fourth quarter valued at $271,000. Nikulski Financial Inc. purchased a new stake in shares of UiPath during the 4th quarter valued at about $426,000. Finally, Fifth Third Wealth Advisors LLC bought a new position in shares of UiPath in the 4th quarter worth approximately $195,000. 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. Its platform's embedded AI, ML, and NLP capabilities improve decisioning and information processing; emulate human behavior allows organizations to address a myriad of use cases; emulate human behavior allows organizations to address a myriad of use cases; multi-tenant platform enterprise deployment with security and governance and Automation Cloud, which enables customers to begin automating without the need to provision infrastructure, install applications, or perform additional configurations; intuitive interface and low-code, drag-and-drop functionality; signed to enable people and automations to work together; and tracks, measures, and forecasts the performance of automations, enables customers to gain powerful insights and generate key performance indicators with actionable metric.