UiPath Sees Unusually High Options Volume (NYSE:PATH)

UiPath Inc. (NYSE:PATH – Get Rating) saw some unusual options trading activity on Thursday. Stock traders bought 21,597 call options on the company. This is an increase of approximately 350% compared to the typical daily volume of 4,800 call options.

Insider Activity

In other news, CFO Ashim Gupta sold 40,000 shares of the firm’s stock in a transaction on Wednesday, February 15th. The shares were sold at an average price of $16.61, for a total value of $664,400.00. Following the sale, the chief financial officer now owns 1,359,051 shares in the company, valued at $22,573,837.11. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 31.88% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Raymond James Financial Services Advisors Inc. raised its stake in shares of UiPath by 3.8% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 40,993 shares of the healthcare company’s stock valued at $885,000 after purchasing an additional 1,506 shares during the period. MetLife Investment Management LLC purchased a new stake in UiPath during the 1st quarter valued at about $184,000. BlackRock Inc. boosted its holdings in UiPath by 1.9% during the 1st quarter. BlackRock Inc. now owns 5,316,635 shares of the healthcare company’s stock valued at $114,786,000 after acquiring an additional 99,242 shares during the period. Dimensional Fund Advisors LP purchased a new stake in UiPath during the 1st quarter valued at about $534,000. Finally, Canada Pension Plan Investment Board purchased a new stake in UiPath during the 1st quarter valued at about $259,000. Hedge funds and other institutional investors own 56.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on PATH. Evercore ISI cut their price target on UiPath to $17.00 in a report on Friday, December 2nd. Royal Bank of Canada boosted their price objective on UiPath from $15.00 to $17.00 in a report on Thursday. Barclays upped their price target on UiPath from $13.00 to $17.00 and gave the company an “equal weight” rating in a research note on Thursday. Morgan Stanley boosted their price objective on UiPath from $15.00 to $16.00 and gave the company an “equal weight” rating in a research report on Thursday. Finally, Canaccord Genuity Group upgraded UiPath from a “hold” rating to a “buy” rating and boosted their price objective for the company from $14.50 to $19.00 in a research report on Thursday. Eight equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $18.81.

UiPath Stock Up 17.6 %

Shares of NYSE:PATH opened at $17.22 on Friday. The stock has a market cap of $9.52 billion, a price-to-earnings ratio of -25.70 and a beta of 0.60. UiPath has a 12-month low of $10.40 and a 12-month high of $31.88. The business’s 50 day moving average is $14.96 and its 200 day moving average is $13.62.

UiPath Company Profile

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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, and Japan. The company offers a suite of interrelated software to build, manage, run, engage, measure, and govern automation within the organization.