UiPath (NYSE:PATH) Trading Up 7.7% – Time to Buy?

Shares of UiPath Inc. (NYSE:PATH) were up 7.7% during trading on Tuesday . The stock traded as high as $14.93 and last traded at $14.82. Approximately 5,458,836 shares changed hands during mid-day trading, a decline of 31% from the average daily volume of 7,881,635 shares. The stock had previously closed at $13.76.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on PATH shares. Morgan Stanley boosted their target price on shares of UiPath from $15.00 to $16.00 and gave the company an “equal weight” rating in a research note on Friday, December 6th. Barclays reduced their price objective on UiPath from $16.00 to $15.00 and set an “equal weight” rating for the company in a report on Friday, January 10th. UBS Group assumed coverage on UiPath in a research note on Thursday, December 12th. They issued a “sell” rating and a $14.00 target price on the stock. Needham & Company LLC reiterated a “hold” rating on shares of UiPath in a research note on Wednesday, January 15th. Finally, JPMorgan Chase & Co. boosted their price objective on UiPath from $17.00 to $18.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $17.44.

UiPath Price Performance

The company has a fifty day moving average price of $13.65 and a 200 day moving average price of $12.83. The company has a market cap of $8.34 billion, a PE ratio of -94.86 and a beta of 0.96.

Insiders Place Their Bets

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

Hedge Funds Weigh In On UiPath

A number of large investors have recently bought and sold shares of PATH. Jacobs Levy Equity Management Inc. increased its holdings in UiPath by 554.8% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 4,026,502 shares of the company’s stock valued at $51,539,000 after purchasing an additional 3,411,562 shares during the period. Senvest Management LLC grew its position in shares of UiPath by 16.7% in the 3rd quarter. Senvest Management LLC now owns 10,894,483 shares of the company’s stock worth $139,449,000 after buying an additional 1,559,500 shares during the last quarter. Worldquant Millennium Advisors LLC bought a new position in shares of UiPath during the third quarter valued at approximately $19,071,000. AQR Capital Management LLC raised its holdings in shares of UiPath by 120.6% during the second quarter. AQR Capital Management LLC now owns 1,633,393 shares of the company’s stock valued at $20,385,000 after acquiring an additional 892,845 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in UiPath by 37.2% in the second quarter. Dimensional Fund Advisors LP now owns 2,783,571 shares of the company’s stock valued at $35,296,000 after acquiring an additional 754,519 shares in the last quarter. 62.50% of the stock is owned by hedge funds and other 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.