UiPath (NYSE:PATH) Sees Unusually-High Trading Volume After Analyst Upgrade

Shares of UiPath Inc. (NYSE:PATH) saw unusually-strong trading volume on Friday after Barclays raised their price target on the stock from $15.00 to $16.00. Barclays currently has an equal weight rating on the stock. Approximately 7,660,089 shares were traded during trading, a decline of 20% from the previous session’s volume of 9,545,138 shares.The stock last traded at $13.96 and had previously closed at $14.95.

Several other equities research analysts also recently weighed in on PATH. Bank of America increased their target price on shares of UiPath from $16.00 to $18.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. Wells Fargo & Company reduced their price objective on shares of UiPath from $15.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 23rd. TD Cowen dropped their target price on UiPath from $17.00 to $16.00 and set a “hold” rating for the company in a research report on Friday, September 6th. BMO Capital Markets upped their target price on UiPath from $15.00 to $16.00 and gave the company a “market perform” rating in a research note on Friday. Finally, Evercore ISI raised their price target on UiPath from $13.00 to $16.00 and gave the stock an “in-line” rating in a research note on Friday, September 6th. Sixteen equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $17.71.

Insiders Place Their Bets

In other news, CFO Ashim Gupta sold 47,671 shares of UiPath stock in a transaction on Friday, September 13th. The shares were sold at an average price of $12.07, for a total transaction of $575,388.97. Following the completion of the sale, the chief financial officer now directly owns 849,917 shares in the company, valued at approximately $10,258,498.19. The trade was a 5.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 22.37% of the company’s stock.

Institutional Trading of UiPath

Several large investors have recently added to or reduced their stakes in PATH. Ontario Teachers Pension Plan Board boosted its position in UiPath by 136.0% in the third quarter. Ontario Teachers Pension Plan Board now owns 108,725 shares of the company’s stock valued at $1,392,000 after buying an additional 62,650 shares during the last quarter. D.A. Davidson & CO. boosted its holdings in shares of UiPath by 60.1% in the 3rd quarter. D.A. Davidson & CO. now owns 557,667 shares of the company’s stock valued at $7,138,000 after acquiring an additional 209,300 shares during the last quarter. Senvest Management LLC increased its stake 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 worth $139,449,000 after acquiring an additional 1,559,500 shares during the period. Quantbot Technologies LP raised its holdings in shares of UiPath by 667.7% during the third quarter. Quantbot Technologies LP now owns 101,718 shares of the company’s stock worth $1,302,000 after purchasing an additional 88,468 shares during the last quarter. Finally, LMR Partners LLP purchased a new position in shares of UiPath during the third quarter worth $561,000. Hedge funds and other institutional investors own 62.50% of the company’s stock.

UiPath Price Performance

The firm’s fifty day simple moving average is $13.10 and its 200 day simple moving average is $12.83. The company has a market capitalization of $8.14 billion, a PE ratio of -92.56 and a beta of 0.94.

UiPath (NYSE:PATH) last posted its earnings results on Thursday, September 5th. The company reported $0.04 EPS for the quarter, topping the consensus estimate of $0.03 by $0.01. UiPath had a negative return on equity of 3.98% and a negative net margin of 8.13%. The firm had revenue of $316.00 million for the quarter, compared to analyst estimates of $303.69 million. During the same period last year, the company earned ($0.09) earnings per share. UiPath’s revenue for the quarter was up 10.0% compared to the same quarter last year. On average, equities research analysts anticipate that UiPath Inc. will post -0.23 EPS for the current fiscal year.

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.