UiPath (NYSE:PATH) Stock Price Up 6.5% – Time to Buy?

UiPath, Inc. (NYSE:PATH)’s share price traded up 6.5% during mid-day trading on Thursday . The stock traded as high as $15.16 and last traded at $15.12. 20,085,175 shares traded hands during mid-day trading, a decline of 27% from the average session volume of 27,656,809 shares. The stock had previously closed at $14.20.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on PATH shares. Morgan Stanley upped their price target on shares of UiPath from $15.00 to $19.00 and gave the company an “equal weight” rating in a report on Tuesday, December 9th. BMO Capital Markets boosted their price objective on shares of UiPath from $13.00 to $17.00 and gave the company a “market perform” rating in a research report on Thursday, December 4th. Mizuho increased their target price on shares of UiPath from $14.00 to $15.00 and gave the stock a “neutral” rating in a report on Thursday, December 4th. Weiss Ratings reissued a “hold (c)” rating on shares of UiPath in a research note on Monday, December 29th. Finally, Wells Fargo & Company upped their price target on UiPath from $12.00 to $14.00 and gave the company an “equal weight” rating in a research report on Thursday, December 4th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $16.00.

UiPath Trading Up 6.5%

The company has a market cap of $8.09 billion, a PE ratio of 36.00, a PEG ratio of 4.21 and a beta of 1.08. The stock has a 50 day moving average price of $15.73 and a 200 day moving average price of $13.94.

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. The business had revenue of $411.11 million during the quarter, compared to the consensus estimate of $392.46 million. UiPath had a return on equity of 3.73% and a net margin of 14.79%.The firm’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.11 earnings per share. Equities analysts expect that UiPath, Inc. will post -0.17 EPS for the current fiscal year.

Insider Activity

In other UiPath news, CFO Ashim Gupta sold 67,468 shares of the firm’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $16.10, for a total transaction of $1,086,234.80. Following the completion of the transaction, the chief financial officer owned 557,028 shares of the company’s stock, valued at approximately $8,968,150.80. This trade represents a 10.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Daniel Dines sold 45,000 shares of UiPath stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $19.21, for a total transaction of $864,450.00. Following the transaction, the chief executive officer owned 29,153,585 shares of the company’s stock, valued at $560,040,367.85. The trade was a 0.15% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 1,130,048 shares of company stock valued at $18,827,894. 23.19% of the stock is owned by company insiders.

Institutional Trading of UiPath

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Hudson Bay Capital Management LP purchased a new position in shares of UiPath in the second quarter worth $102,559,000. Norges Bank bought a new stake in UiPath in the 2nd quarter worth about $68,451,000. AQR Capital Management LLC increased its holdings in UiPath by 76.0% in the 2nd quarter. AQR Capital Management LLC now owns 11,407,569 shares of the company’s stock worth $145,732,000 after buying an additional 4,926,341 shares in the last quarter. TFG Asset Management GP Ltd raised its position in UiPath by 53.3% in the 2nd quarter. TFG Asset Management GP Ltd now owns 13,722,244 shares of the company’s stock worth $175,645,000 after buying an additional 4,772,244 shares during the last quarter. Finally, Nomura Holdings Inc. bought a new position in UiPath during the 2nd quarter valued at about $59,561,000. Hedge funds and other institutional investors own 62.50% of the company’s stock.

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. 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.