UiPath Inc. (NYSE:PATH) CAO Hitesh Ramani Sells 25,000 Shares

UiPath Inc. (NYSE:PATH) CAO Hitesh Ramani sold 25,000 shares of UiPath stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $13.05, for a total value of $326,250.00. Following the sale, the chief accounting officer now directly owns 269,421 shares in the company, valued at approximately $3,515,944.05. This trade represents a 8.49 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

UiPath Stock Up 3.7 %

NYSE:PATH opened at $13.77 on Tuesday. The company’s 50 day moving average is $13.50 and its 200-day moving average is $12.74. The firm has a market cap of $7.57 billion, a price-to-earnings ratio of -86.06 and a beta of 0.96. UiPath Inc. has a 12 month low of $10.37 and a 12 month high of $27.87.

Analyst Upgrades and Downgrades

Several analysts have weighed in on PATH shares. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $16.00 target price on shares of UiPath in a research note on Friday, December 6th. Needham & Company LLC restated a “hold” rating on shares of UiPath in a research note on Thursday, December 19th. Wells Fargo & Company decreased their target price on shares of UiPath from $15.00 to $13.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. upped their price target on shares of UiPath from $17.00 to $18.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. Finally, Morgan Stanley raised their price objective on shares of UiPath from $15.00 to $16.00 and gave the company an “equal weight” rating in a research note on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $17.50.

Institutional Investors Weigh In On UiPath

Hedge funds have recently bought and sold shares of the company. Pacer Advisors Inc. acquired a new position in shares of UiPath during the 2nd quarter worth about $69,180,000. Jacobs Levy Equity Management Inc. lifted its holdings in shares of UiPath by 554.8% during the third quarter. Jacobs Levy Equity Management Inc. now owns 4,026,502 shares of the company’s stock worth $51,539,000 after buying an additional 3,411,562 shares during the last quarter. Senvest Management LLC boosted its position in shares of UiPath by 16.7% in the third quarter. Senvest Management LLC now owns 10,894,483 shares of the company’s stock valued at $139,449,000 after acquiring an additional 1,559,500 shares during the period. Worldquant Millennium Advisors LLC acquired a new stake in shares of UiPath in the third quarter worth $19,071,000. Finally, Renaissance Technologies LLC bought a new position in UiPath during the second quarter worth $13,280,000. 62.50% of the stock is currently owned by institutional investors.

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.