UiPath (NYSE:PATH) Stock Price Down 7.9% Following Insider Selling

UiPath, Inc. (NYSE:PATH) shares traded down 7.9% during trading on Tuesday after an insider sold shares in the company. The stock traded as low as $16.00 and last traded at $15.8850. 9,641,565 shares changed hands during trading, a decline of 57% from the average session volume of 22,572,670 shares. The stock had previously closed at $17.24.

Specifically, CEO Daniel Dines sold 45,000 shares of the firm’s stock in a transaction that occurred on Monday, January 12th. The shares were sold at an average price of $16.61, for a total value of $747,450.00. Following the completion of the transaction, the chief executive officer owned 28,163,585 shares of the company’s stock, valued at approximately $467,797,146.85. This trade represents a 0.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Daniel Dines sold 45,000 shares of the stock in a transaction that occurred on Friday, January 9th. The stock was sold at an average price of $17.17, for a total transaction of $772,650.00. Following the sale, the chief executive officer owned 28,208,585 shares in the company, valued at approximately $484,341,404.45. This trade represents a 0.16% 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 company’s stock in a transaction on Wednesday, January 7th. The stock was sold at an average price of $17.32, for a total transaction of $779,400.00. Following the sale, the chief executive officer owned 28,253,585 shares of the company’s stock, valued at approximately $489,352,092.20. This represents a 0.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Wall Street Analyst Weigh In

Several research firms recently commented on PATH. UBS Group reissued a “neutral” rating on shares of UiPath in a research note on Thursday, December 4th. Canaccord Genuity Group raised their target price on shares of UiPath from $15.00 to $19.00 and gave the company a “buy” rating in a report on Thursday, December 4th. Truist Financial set a $17.00 price target on shares of UiPath in a report on Thursday, December 4th. Mizuho increased their price objective on shares of UiPath from $14.00 to $15.00 and gave the company a “neutral” rating in a research report on Thursday, December 4th. Finally, BMO Capital Markets lifted their price objective on shares of UiPath from $13.00 to $17.00 and gave the stock a “market perform” rating in a research report on Thursday, December 4th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, UiPath has an average rating of “Hold” and a consensus target price of $16.00.

UiPath Price Performance

The business’s 50 day simple moving average is $15.67 and its 200 day simple moving average is $13.85. The company has a market capitalization of $8.50 billion, a price-to-earnings ratio of 37.85, a price-to-earnings-growth ratio of 4.79 and a beta of 1.08.

UiPath (NYSE:PATH) last released its quarterly earnings results 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 firm had revenue of $411.11 million for the quarter, compared to analyst estimates of $392.46 million. UiPath had a return on equity of 3.73% and a net margin of 14.79%.The business’s revenue was up 15.9% on a year-over-year basis. During the same quarter last year, the company posted $0.11 earnings per share. As a group, analysts expect that UiPath, Inc. will post -0.17 EPS for the current fiscal year.

Institutional Investors Weigh In On UiPath

Several large investors have recently modified their holdings of the stock. Noble Wealth Management PBC acquired a new position in UiPath in the 4th quarter valued at $25,000. Twin Peaks Wealth Advisors LLC acquired a new position in shares of UiPath during the second quarter worth about $28,000. AdvisorNet Financial Inc raised its holdings in UiPath by 320.4% during the second quarter. AdvisorNet Financial Inc now owns 2,476 shares of the company’s stock worth $32,000 after purchasing an additional 1,887 shares in the last quarter. GAMMA Investing LLC lifted its position in UiPath by 48.0% in the second quarter. GAMMA Investing LLC now owns 2,989 shares of the company’s stock valued at $38,000 after purchasing an additional 969 shares during the period. Finally, IFP Advisors Inc boosted its holdings in UiPath by 508.0% in the 2nd quarter. IFP Advisors Inc now owns 3,283 shares of the company’s stock valued at $42,000 after purchasing an additional 2,743 shares in the last quarter. 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.