UiPath (NYSE:PATH) Insider Raghavendra Malpani Sells 40,464 Shares of Stock

UiPath, Inc. (NYSE:PATH – Get Free Report) insider Raghavendra Malpani sold 40,464 shares of the company’s stock in a transaction dated Thursday, September 17th. The stock was sold at an average price of $14.00, for a total value of $566,496.00. Following the completion of the transaction, the insider owned 1,582,213 shares of the company’s stock, valued at $22,150,982. The trade was a 2.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

UiPath Stock Up 1.5%

Shares of NYSE PATH traded up $0.20 during trading hours on Monday, reaching $13.59. 46,585,144 shares of the stock traded hands, compared to its average volume of 46,983,637. The company’s 50-day simple moving average is $14.43 and its two-hundred day simple moving average is $12.18. The company has a market capitalization of $7.04 billion, a P/E ratio of 20.28, a price-to-earnings-growth ratio of 1.31 and a beta of 1.02. UiPath, Inc. has a 52-week low of $9.20 and a 52-week high of $19.84.

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UiPath (NYSE:PATH – Get Free Report) last issued its earnings results on Thursday, September 3rd. The company reported $0.15 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.15. UiPath had a return on equity of 9.70% and a net margin of 21.03%.The business had revenue of $410.26 million during the quarter, compared to analyst estimates of $397.77 million. During the same quarter in the prior year, the firm earned $0.15 earnings per share. UiPath’s revenue for the quarter was up 13.3% on a year-over-year basis. As a group, sell-side analysts forecast that UiPath, Inc. will post 0.47 earnings per share for the current fiscal year.

Hedge Funds Weigh In On UiPath

Several hedge funds and other institutional investors have recently modified their holdings of PATH. BlackRock Inc. increased its holdings in UiPath by 7.2% during the 2nd quarter. BlackRock Inc. now owns 46,153,124 shares of the company’s stock valued at $501,684,000 after purchasing an additional 3,097,822 shares during the period. Geode Capital Management LLC lifted its holdings in UiPath by 25.6% in the 4th quarter. Geode Capital Management LLC now owns 7,499,989 shares of the company’s stock worth $122,951,000 after buying an additional 1,528,454 shares during the period. Norges Bank bought a new stake in shares of UiPath in the 4th quarter worth approximately $120,176,000. Bank of America Corp DE grew its position in shares of UiPath by 13.2% in the 1st quarter. Bank of America Corp DE now owns 10,046,699 shares of the company’s stock worth $111,518,000 after buying an additional 1,170,285 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of UiPath by 26.7% during the first quarter. Dimensional Fund Advisors LP now owns 6,831,288 shares of the company’s stock valued at $75,818,000 after buying an additional 1,437,843 shares during the period. 62.50% of the stock is owned by institutional investors.

Analysts Set New Price Targets

PATH has been the topic of a number of analyst reports. Weiss Ratings upgraded shares of UiPath from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, September 9th. Mizuho upped their price target on shares of UiPath from $12.00 to $14.00 and gave the company a “neutral” rating in a research report on Friday, September 4th. BMO Capital Markets raised their price objective on UiPath from $13.00 to $18.00 and gave the company a “market perform” rating in a research note on Friday, September 4th. TD Cowen boosted their target price on UiPath from $13.00 to $16.00 and gave the company a “hold” rating in a research note on Friday, September 4th. Finally, Needham & Company LLC increased their target price on UiPath from $15.00 to $22.00 and gave the company a “buy” rating in a report on Thursday, September 3rd. Three equities research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $16.75.

Check Out Our Latest Research Report on PATH

About UiPath

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UiPath Inc (NYSE: PATH) develops enterprise automation software designed to help organizations automate repetitive, rules-based and increasingly complex business processes. Its platform combines robotic process automation (RPA), artificial intelligence, workflow orchestration and process intelligence to support automation across areas such as finance, customer service, human resources, information technology and operations.

The UiPath Platform includes tools for discovering and analyzing business processes, building and managing software robots, processing documents, testing applications and coordinating automated workflows.

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