Investors Purchase Large Volume of Call Options on UiPath (NYSE:PATH)

UiPath, Inc. (NYSE:PATH) saw some unusual options trading on Wednesday. Traders acquired 94,510 call options on the company. This is an increase of approximately 36% compared to the typical daily volume of 69,535 call options.

Insider Activity

In other news, CFO Ashim Gupta sold 67,468 shares of the stock in a transaction 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 sale, the chief financial officer owned 557,028 shares of the company’s stock, valued at $8,968,150.80. This represents a 10.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Daniel Dines sold 45,000 shares of the stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $15.73, for a total transaction of $707,850.00. Following the completion of the transaction, the chief executive officer directly owned 28,343,585 shares in the company, valued at $445,844,592.05. The trade was a 0.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 832,468 shares of company stock valued at $13,668,235 over the last 90 days. Corporate insiders own 23.19% of the company’s stock.

Hedge Funds Weigh In On UiPath

Several hedge funds have recently bought and sold shares of the company. Hudson Bay Capital Management LP purchased a new position in shares of UiPath during the 2nd quarter valued at $102,559,000. Norges Bank bought a new position in UiPath in the 4th quarter worth about $120,176,000. State Street Corp raised its holdings in shares of UiPath by 66.4% in the 4th quarter. State Street Corp now owns 13,004,786 shares of the company’s stock valued at $213,148,000 after acquiring an additional 5,189,438 shares in the last quarter. AQR Capital Management LLC boosted its position in shares of UiPath by 76.0% during the 2nd quarter. AQR Capital Management LLC now owns 11,407,569 shares of the company’s stock valued at $145,732,000 after acquiring an additional 4,926,341 shares during the last quarter. Finally, TFG Asset Management GP Ltd increased its position in shares of UiPath by 53.3% in the second quarter. TFG Asset Management GP Ltd now owns 13,722,244 shares of the company’s stock worth $175,645,000 after purchasing an additional 4,772,244 shares during the last quarter. Hedge funds and other institutional investors own 62.50% of the company’s stock.

UiPath Stock Up 1.1%

PATH traded up $0.13 on Wednesday, hitting $11.72. The company’s stock had a trading volume of 46,514,978 shares, compared to its average volume of 32,249,859. The company’s 50 day simple moving average is $13.23 and its 200-day simple moving average is $14.01. UiPath has a 12 month low of $9.38 and a 12 month high of $19.84. The firm has a market cap of $6.26 billion, a P/E ratio of 27.85, a price-to-earnings-growth ratio of 1.64 and a beta of 1.09.

Wall Street Analyst Weigh In

PATH has been the topic of a number of analyst reports. Morgan Stanley increased their price target on UiPath from $15.00 to $19.00 and gave the stock an “equal weight” rating in a research report on Tuesday, December 9th. Wells Fargo & Company boosted their price target on UiPath from $12.00 to $14.00 and gave the company an “equal weight” rating in a research note on Thursday, December 4th. UBS Group reiterated a “neutral” rating on shares of UiPath in a research note on Thursday, December 4th. Weiss Ratings reissued a “hold (c)” rating on shares of UiPath in a research note on Monday, December 29th. Finally, Mizuho lifted their target price on shares of UiPath from $14.00 to $15.00 and gave the stock a “neutral” rating in a research report on Thursday, December 4th. One analyst has rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, UiPath currently has an average rating of “Hold” and a consensus price target of $15.77.

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.