UiPath (NYSE:PATH) Shares Gap Up – Time to Buy?

UiPath, Inc. (NYSE:PATH)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $11.59, but opened at $12.00. UiPath shares last traded at $11.71, with a volume of 12,696,943 shares.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. UBS Group reiterated a “neutral” rating on shares of UiPath in a research report on Thursday, December 4th. DA Davidson upped their price objective on shares of UiPath from $12.00 to $15.00 and gave the company a “neutral” rating in a report on Thursday, December 4th. Weiss Ratings reiterated a “hold (c)” rating on shares of UiPath in a research note on Monday, December 29th. Truist Financial set a $17.00 target price on shares of UiPath in a report on Thursday, December 4th. Finally, BMO Capital Markets increased their price target on 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 Buy rating, fifteen have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $15.77.

UiPath Price Performance

The business’s fifty day simple moving average is $13.23 and its two-hundred day simple moving average is $14.01. The company has a market cap of $6.26 billion, a PE ratio of 27.85, a PEG ratio of 1.64 and a beta of 1.09.

Insider Activity

In other news, CFO Ashim Gupta sold 67,468 shares of the business’s stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $16.10, for a total value of $1,086,234.80. Following the completion of the sale, the chief financial officer directly owned 557,028 shares in the company, valued at $8,968,150.80. The trade was a 10.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Daniel Dines sold 45,000 shares of the company’s stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $15.73, for a total value of $707,850.00. Following the transaction, the chief executive officer directly owned 28,343,585 shares of the company’s stock, valued at approximately $445,844,592.05. The trade was a 0.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 832,468 shares of company stock valued at $13,668,235. 23.19% of the stock is owned by company insiders.

Institutional Investors Weigh In On UiPath

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Noble Wealth Management PBC acquired a new position in UiPath during the fourth quarter worth $25,000. HighMark Wealth Management LLC acquired a new stake in shares of UiPath in the fourth quarter valued at about $25,000. Raleigh Capital Management Inc. purchased a new stake in shares of UiPath during the fourth quarter worth about $26,000. TD Waterhouse Canada Inc. raised its position in shares of UiPath by 1,270.8% during the 4th quarter. TD Waterhouse Canada Inc. now owns 1,782 shares of the company’s stock worth $29,000 after purchasing an additional 1,652 shares during the last quarter. Finally, Twin Peaks Wealth Advisors LLC acquired a new position in shares of UiPath during the 2nd quarter worth about $28,000. 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.