UiPath (NYSE:PATH) Trading 1.7% Higher - Here's Why

UiPath Inc. (NYSE:PATH) saw its shares increase by 1.7% on Thursday. The stock reached a peak of $13.54 and was last seen trading at $13.43. During the trading session, 8,644,720 shares changed hands, representing a 10% decrease from the average volume of 9,625,994 shares. The previous closing price was $13.20.

Wall Street Analysts Forecast Growth

Equities analysts have been actively commenting on UiPath’s stock recently. On October 23rd, Wells Fargo & Company lowered its price target from $15.00 to $13.00, maintaining an "equal weight" rating. Conversely, Barclays raised its price target from $15.00 to $16.00 and also gave it an "equal weight" rating on December 6th. UBS Group initiated coverage on December 12th, issuing a "sell" rating and a price target of $14.00. In a different assessment, JPMorgan Chase & Co. increased its target from $17.00 to $18.00, assigning UiPath an "overweight" rating. Morgan Stanley also adjusted its price target upwards from $15.00 to $16.00 with an "equal weight" rating on December 6th. Currently, among analysts, one has rated the stock as a sell, sixteen as hold, and two as buy. The average analyst rating for UiPath is "Hold" with an average price target of $17.50.

UiPath Trading Up 1.7%

UiPath's 50-day moving average is $13.53, while the 200-day moving average stands at $12.75. The company holds a market capitalization of $7.38 billion and a price-to-earnings ratio of -83.94, with a beta of 0.96.

Insider Activity

Recent insider movements have been recorded as well. On January 3rd, CAO Hitesh Ramani sold 25,000 shares at an average of $13.05, totaling $326,250. After this transaction, Ramani owned 269,421 shares valued at approximately $3,515,944.05, marking an 8.49% decrease in his position. Similarly, CFO Ashim Gupta sold 47,227 shares at an average price of $13.06, amounting to $616,784.62. Gupta now holds 856,538 shares worth about $11,186,386.28, a 5.23% drop from prior ownership. Corporate insiders currently hold 22.37% of the stock.

Institutional Inflows and Outflows

Several hedge funds have either increased or decreased their positions in UiPath recently. Cowa LLC expanded its stake by 4.4% during the third quarter, owning 26,681 shares worth $342,000 after adding 1,118 shares. Nations Financial Group Inc. IA ADV increased its position by 6.8%, now holding 26,090 shares valued at $334,000 after acquiring an additional 1,654 shares. Amalgamated Bank also raised its stake by 7.1%, owning 27,312 shares worth $350,000 after a purchase of 1,811 shares. Similar increases were seen from Thrivent Financial for Lutherans and Future Financial Wealth Management LLC. Institutional ownership of UiPath stands at around 62.50%.

About UiPath

UiPath Inc. specializes in providing an end-to-end automation platform, delivering a variety of robotic process automation (RPA) solutions mainly in the United States, Europe, and globally. The company offers a comprehensive suite of software designed to build, manage, run, engage, measure, and govern automation within organizations.

Conclusion

The recent movements in UiPath’s shares and the activities of analysts and insiders demonstrate an ongoing interest in the company's potential for growth in automation technology. With mixed ratings from analysts and notable trading activities, investors are advised to monitor further developments closely.

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