UiPath (NYSE:PATH) Stock Price Up 1.5% – Here’s Why

Shares of UiPath, Inc. (NYSE:PATH) rose 1.5% on Friday . The company traded as high as $11.68 and last traded at $11.3450. Approximately 23,675,266 shares traded hands during trading, a decline of 18% from the average daily volume of 28,777,217 shares. The stock had previously closed at $11.18.

Analysts Set New Price Targets

Several research firms have commented on PATH. TD Cowen reissued a “hold” rating on shares of UiPath in a research report on Thursday, December 4th. Zacks Research lowered UiPath from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 6th. DA Davidson lifted their price target on UiPath from $12.00 to $15.00 and gave the stock a “neutral” rating in a research report on Thursday, December 4th. Weiss Ratings reissued a “hold (c)” rating on shares of UiPath in a report on Monday, December 29th. Finally, Truist Financial set a $17.00 price objective on UiPath in a research note on Thursday, December 4th. One research analyst has rated the stock with a Buy rating, fifteen have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, UiPath presently has an average rating of “Hold” and a consensus price target of $15.77.

UiPath Price Performance

The firm’s fifty day simple moving average is $15.29 and its 200 day simple moving average is $13.99. The company has a market capitalization of $6.07 billion, a PE ratio of 27.01, a price-to-earnings-growth ratio of 1.59 and a beta of 1.07.

UiPath (NYSE:PATH) last released 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. UiPath had a return on equity of 3.73% and a net margin of 14.79%.The business had revenue of $411.11 million during the quarter, compared to analyst estimates of $392.46 million. During the same quarter last year, the business posted $0.11 EPS. The company’s revenue was up 15.9% on a year-over-year basis. On average, equities research analysts anticipate that UiPath, Inc. will post -0.17 EPS for the current fiscal year.

Insider Activity at UiPath

In related news, CEO Daniel Dines sold 45,000 shares of the stock in a transaction on Monday, January 26th. The shares were sold at an average price of $15.01, for a total transaction of $675,450.00. Following the sale, the chief executive officer directly owned 27,893,585 shares of the company’s stock, valued at approximately $418,682,710.85. This represents a 0.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Ashim Gupta sold 67,468 shares of the firm’s 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 sale, the chief financial officer owned 557,028 shares in the company, valued at approximately $8,968,150.80. This represents a 10.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 950,048 shares of company stock worth $15,881,744. Insiders own 23.19% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Kestra Advisory Services LLC acquired a new stake in shares of UiPath during the 4th quarter valued at about $238,000. The Manufacturers Life Insurance Company boosted its position in UiPath by 247.5% during the fourth quarter. The Manufacturers Life Insurance Company now owns 320,679 shares of the company’s stock worth $5,260,000 after purchasing an additional 228,398 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its holdings in UiPath by 2.8% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 2,107,481 shares of the company’s stock valued at $34,500,000 after purchasing an additional 56,711 shares during the period. Stifel Financial Corp increased its position in shares of UiPath by 34.4% in the fourth quarter. Stifel Financial Corp now owns 584,568 shares of the company’s stock valued at $9,581,000 after buying an additional 149,663 shares in the last quarter. Finally, Bank of Nova Scotia purchased a new stake in shares of UiPath in the fourth quarter valued at approximately $7,343,000. Institutional investors and hedge funds 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. 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.