UiPath Target of Unusually High Options Trading (NYSE:PATH)

UiPath Inc. (NYSE:PATH) was the target of some unusual options trading activity on Friday. Traders purchased 25,833 call options on the stock. This is an increase of 11% compared to the average volume of 23,224 call options.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on PATH. Morgan Stanley reduced their target price on shares of UiPath from $16.00 to $12.00 and set an “equal weight” rating for the company in a research report on Thursday. Scotiabank cut their price objective on shares of UiPath from $15.00 to $12.00 and set a “sector perform” rating for the company in a research report on Thursday. Royal Bank of Canada cut their price objective on shares of UiPath from $16.00 to $13.00 and set a “sector perform” rating for the company in a research report on Thursday. Evercore ISI cut their price objective on shares of UiPath from $16.00 to $12.00 and set an “in-line” rating for the company in a research report on Thursday. Finally, UBS Group cut their price objective on shares of UiPath from $14.00 to $10.00 and set a “sell” rating for the company in a research report on Thursday. Two analysts have rated the stock with a sell rating, fifteen have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $14.53.

UiPath Stock Performance

NYSE PATH opened at $10.84 on Friday. The firm has a 50 day simple moving average of $13.36 and a 200-day simple moving average of $13.15. UiPath has a one year low of $9.50 and a one year high of $23.97. The firm has a market cap of $5.96 billion, a price-to-earnings ratio of -67.78 and a beta of 1.00.

Insider Buying and Selling at UiPath

In other news, CAO Hitesh Ramani sold 25,000 shares of the stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $13.05, for a total value of $326,250.00. Following the completion of the sale, the chief accounting officer now directly owns 269,421 shares in the company, valued at $3,515,944.05. This represents a 8.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Ashim Gupta sold 47,227 shares of the 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 completion of the sale, the chief financial officer now owns 856,538 shares of the company’s stock, 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. Insiders own 22.37% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in PATH. Smartleaf Asset Management LLC boosted its stake in shares of UiPath by 88.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,454 shares of the company’s stock valued at $31,000 after purchasing an additional 1,152 shares during the period. First Horizon Advisors Inc. boosted its stake in shares of UiPath by 47.8% in the fourth quarter. First Horizon Advisors Inc. now owns 2,487 shares of the company’s stock valued at $32,000 after purchasing an additional 804 shares during the period. EverSource Wealth Advisors LLC boosted its stake in shares of UiPath by 141.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 2,974 shares of the company’s stock valued at $38,000 after purchasing an additional 1,742 shares during the period. V Square Quantitative Management LLC boosted its stake in shares of UiPath by 33.4% in the fourth quarter. V Square Quantitative Management LLC now owns 3,030 shares of the company’s stock valued at $39,000 after purchasing an additional 759 shares during the period. Finally, Quarry LP lifted its stake in UiPath by 654.4% in the third quarter. Quarry LP now owns 3,146 shares of the company’s stock worth $40,000 after acquiring an additional 2,729 shares during the last quarter. 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.