UiPath (NYSE:PATH) Shares Down 1.6% Following Insider Selling

UiPath, Inc. (NYSE:PATH)’s share price fell 1.6% during mid-day trading on Wednesday following insider selling activity. The stock traded as low as $18.23 and last traded at $18.67. 21,479,101 shares changed hands during mid-day trading, an increase of 39% from the average session volume of 15,483,634 shares. The stock had previously closed at $18.98.

Specifically, CEO Daniel Dines sold 45,000 shares of the firm’s stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $18.61, for a total value of $837,450.00. Following the completion of the sale, the chief executive officer directly owned 29,108,585 shares of the company’s stock, valued at $541,710,766.85. This trade represents a 0.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Brad Brubaker sold 27,580 shares of the business’s stock in a transaction on Friday, December 5th. The shares were sold at an average price of $18.55, for a total value of $511,609.00. Following the completion of the sale, the insider owned 635,359 shares in the company, valued at approximately $11,785,909.45. The trade was a 4.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In other news, CEO Daniel Dines sold 45,000 shares of the stock in a transaction on Monday, December 8th. The stock was sold at an average price of $19.21, for a total transaction of $864,450.00. Following the completion of the transaction, the chief executive officer owned 29,153,585 shares in the company, valued at approximately $560,040,367.85. This represents a 0.15% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Wall Street Analyst Weigh In

Several equities research analysts have commented on PATH shares. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of UiPath in a report on Thursday, October 30th. Wall Street Zen lowered shares of UiPath from a “strong-buy” rating to a “buy” rating in a research report on Saturday. UBS Group reaffirmed a “neutral” rating on shares of UiPath in a report on Thursday, December 4th. Evercore ISI lifted their price objective on shares of UiPath from $15.00 to $17.00 and gave the company an “in-line” rating in a research note on Thursday, December 4th. Finally, DA Davidson increased their target price on UiPath from $12.00 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, fourteen have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Reduce” and an average price target of $16.00.

UiPath Trading Down 1.6%

The stock has a market capitalization of $9.91 billion, a PE ratio of 44.45, a PEG ratio of 7.16 and a beta of 1.10. The business has a fifty day moving average price of $15.18 and a 200-day moving average price of $13.17.

UiPath (NYSE:PATH) last announced its quarterly earnings data on Wednesday, December 3rd. The company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.02. The company had revenue of $411.11 million for the quarter, compared to analysts’ expectations of $392.46 million. UiPath had a return on equity of 3.83% and a net margin of 14.79%.UiPath’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same period last year, the firm posted $0.11 EPS. On average, equities analysts anticipate that UiPath, Inc. will post -0.17 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

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