UiPath Inc. (NYSE:PATH) CFO Sells $616,784.62 in Stock

UiPath Inc. (NYSE:PATH) CFO Ashim Gupta sold 47,227 shares of the firm’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $13.06, for a total value of $616,784.62. Following the completion of the transaction, the chief financial officer now owns 856,538 shares of the company’s stock, valued at approximately $11,186,386.28. The trade was a 5.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

UiPath Price Performance

UiPath stock opened at $13.19 on Wednesday. The stock has a market cap of $7.25 billion, a price-to-earnings ratio of -82.44 and a beta of 0.96. The firm has a 50 day simple moving average of $13.51 and a 200-day simple moving average of $12.75. UiPath Inc. has a 1-year low of $10.37 and a 1-year high of $27.87.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on PATH shares. BMO Capital Markets raised their price target on shares of UiPath from $15.00 to $16.00 and gave the stock a “market perform” rating in a research report on Friday, December 6th. Royal Bank of Canada restated a “sector perform” rating and set a $16.00 target price on shares of UiPath in a research report on Friday, December 6th. Barclays increased their price target on UiPath from $15.00 to $16.00 and gave the stock an “equal weight” rating in a research report on Friday, December 6th. JPMorgan Chase & Co. boosted their price objective on UiPath from $17.00 to $18.00 and gave the company an “overweight” rating in a report on Friday, December 6th. Finally, Wells Fargo & Company dropped their target price on UiPath from $15.00 to $13.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $17.50.

Hedge Funds Weigh In On UiPath

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