UiPath (NYSE:PATH) Stock Price Up 8.2% – Here’s Why

UiPath, Inc. (NYSE:PATH)’s stock price traded up 8.2% during trading on Thursday . The stock traded as high as $18.39 and last traded at $18.1330. 5,052,547 shares changed hands during mid-day trading, a decline of 89% from the average session volume of 45,272,668 shares. The stock had previously closed at $16.76.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on PATH. New Street Research set a $13.00 target price on shares of UiPath in a research report on Monday, June 1st. DA Davidson lowered their price target on shares of UiPath from $13.00 to $12.00 and set a “neutral” rating for the company in a report on Friday, May 29th. Wall Street Zen cut UiPath from a “buy” rating to a “hold” rating in a research note on Saturday, May 30th. BMO Capital Markets cut their price objective on UiPath from $14.00 to $13.00 and set a “market perform” rating on the stock in a report on Monday, June 1st. Finally, Needham & Company LLC reissued a “buy” rating and set a $15.00 price objective on shares of UiPath in a report on Friday, May 29th. Two research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $13.87.

UiPath Stock Up 8.7%

The company has a 50 day moving average price of $12.86 and a 200-day moving average price of $11.66. The company has a market cap of $9.44 billion, a price-to-earnings ratio of 30.38, a P/E/G ratio of 2.00 and a beta of 0.96.

UiPath (NYSE:PATH) last posted its earnings results on Thursday, May 28th. The company reported $0.15 EPS for the quarter, hitting the consensus estimate of $0.15. UiPath had a net margin of 19.58% and a return on equity of 7.92%. The business had revenue of $418.38 million for the quarter, compared to the consensus estimate of $397.54 million. During the same period last year, the company earned $0.11 EPS. The firm’s revenue was up 17.3% compared to the same quarter last year. On average, analysts forecast that UiPath, Inc. will post 0.4 EPS for the current fiscal year.

Insider Activity

In other news, CEO Daniel Dines sold 1,402,347 shares of the firm’s stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $16.07, for a total transaction of $22,535,716.29. Following the completion of the transaction, the chief executive officer owned 26,491,238 shares of the company’s stock, valued at approximately $425,714,194.66. This trade represents a 5.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 22.44% of the company’s stock.

Institutional Trading of UiPath

A number of institutional investors and hedge funds have recently bought and sold shares of PATH. DNB Asset Management AS increased its stake in UiPath by 266.4% in the fourth quarter. DNB Asset Management AS now owns 565,799 shares of the company’s stock valued at $9,273,000 after purchasing an additional 411,395 shares in the last quarter. BlackRock Inc. boosted its position in shares of UiPath by 7.2% during the 2nd quarter. BlackRock Inc. now owns 46,153,124 shares of the company’s stock worth $501,684,000 after purchasing an additional 3,097,822 shares in the last quarter. Redwood Investment Management LLC bought a new position in shares of UiPath during the 2nd quarter worth about $1,183,000. First Trust Advisors LP grew its stake in shares of UiPath by 48.7% in the 1st quarter. First Trust Advisors LP now owns 1,624,148 shares of the company’s stock valued at $18,028,000 after buying an additional 532,157 shares during the period. Finally, State of Michigan Retirement System acquired a new stake in shares of UiPath in the 1st quarter valued at about $1,143,000. 62.50% of the stock is currently owned by institutional investors and hedge funds.

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.