UiPath (NYSE:PATH) Shares Down 4.4% Following Insider Selling

UiPath, Inc. (NYSE:PATH)’s stock price traded down 4.4% on Tuesday following insider selling activity. The company traded as low as $15.68 and last traded at $15.9650. 18,053,176 shares traded hands during mid-day trading, an increase of 16% from the average session volume of 15,621,274 shares. The stock had previously closed at $16.70.

Specifically, CEO Daniel Dines sold 45,000 shares of the stock in a transaction dated Monday, December 22nd. The stock was sold at an average price of $16.49, for a total value of $742,050.00. Following the completion of the sale, the chief executive officer owned 28,748,585 shares of the company’s stock, valued at approximately $474,064,166.65. This represents a 0.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Daniel Dines sold 45,000 shares of the company’s stock in a transaction that occurred on Friday, December 19th. The shares were sold at an average price of $16.07, for a total value of $723,150.00. Following the completion of the sale, the chief executive officer owned 28,793,585 shares in the company, valued at $462,712,910.95. The trade was a 0.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In other UiPath news, CEO Daniel Dines sold 45,000 shares of the stock in a transaction that occurred on Wednesday, December 17th. The shares were sold at an average price of $16.11, for a total transaction of $724,950.00. Following the completion of the sale, the chief executive officer owned 28,838,585 shares of the company’s stock, valued at approximately $464,589,604.35. This represents a 0.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Wall Street Analyst Weigh In

A number of brokerages have commented on PATH. BMO Capital Markets upped their price target on shares of UiPath from $13.00 to $17.00 and gave the company a “market perform” rating in a research report on Thursday, December 4th. Cowen reiterated a “hold” rating on shares of UiPath in a report on Thursday, December 4th. Mizuho increased their price target on UiPath from $14.00 to $15.00 and gave the stock a “neutral” rating in a report on Thursday, December 4th. Wells Fargo & Company raised their price objective on shares of UiPath from $12.00 to $14.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 4th. Finally, DA Davidson boosted their target price on shares of UiPath from $12.00 to $15.00 and gave the company a “neutral” 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 given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $16.00.

UiPath Stock Performance

The stock’s 50 day simple moving average is $15.47 and its 200 day simple moving average is $13.42. The firm has a market cap of $8.54 billion, a P/E ratio of 38.01, a price-to-earnings-growth ratio of 4.87 and a beta of 1.10.

UiPath (NYSE:PATH) last announced its earnings results on Wednesday, December 3rd. The company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate 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 3.73% and a net margin of 14.79%.UiPath’s quarterly revenue was up 15.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.11 earnings per share. As a group, analysts forecast that UiPath, Inc. will post -0.17 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Twin Peaks Wealth Advisors LLC bought a new position in shares of UiPath during the 2nd quarter worth approximately $28,000. AdvisorNet Financial Inc increased its position in shares of UiPath by 320.4% during the second quarter. AdvisorNet Financial Inc now owns 2,476 shares of the company’s stock valued at $32,000 after acquiring an additional 1,887 shares during the last quarter. GAMMA Investing LLC lifted its holdings in UiPath by 48.0% during the second quarter. GAMMA Investing LLC now owns 2,989 shares of the company’s stock worth $38,000 after acquiring an additional 969 shares during the period. IFP Advisors Inc boosted its position in UiPath by 508.0% in the second quarter. IFP Advisors Inc now owns 3,283 shares of the company’s stock worth $42,000 after purchasing an additional 2,743 shares during the last quarter. Finally, Bayforest Capital Ltd grew its stake in UiPath by 852.4% in the 2nd quarter. Bayforest Capital Ltd now owns 4,143 shares of the company’s stock valued at $53,000 after purchasing an additional 3,708 shares during the period. 62.50% of the stock is currently owned by hedge funds and other institutional investors.

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.