Raymond James Financial Inc. Buys 253,113 Shares of UiPath, Inc. $PATH

Key Points

• Raymond James Financial Inc. increased its stake in UiPath, Inc. by 58.4%, acquiring an additional 253,113 shares, bringing its total ownership to 686,278 shares valued at approximately $7 million.
• Insider selling includes notable transactions from CFO Ashim Gupta and CEO Daniel Dines, who sold 56,322 and 45,000 shares, respectively, resulting in a decrease in their ownership in the company.
• UiPath's stock has been rated with a consensus of "Hold" by analysts, with an average price target of $13.83, reflecting mixed investor sentiment following recent adjustments by various financial institutions.

Raymond James Financial Inc. grew its position in shares of UiPath, Inc. (NYSE:PATH - Free Report) by 58.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 686,278 shares of the company's stock after buying an additional 253,113 shares during the period. Raymond James Financial Inc. owned 0.12% of UiPath worth $7,069,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in PATH. Versant Capital Management Inc lifted its holdings in UiPath by 198.6% during the 1st quarter. Versant Capital Management Inc now owns 2,962 shares of the company's stock worth $31,000 after purchasing an additional 1,970 shares in the last quarter. CX Institutional purchased a new position in UiPath during the 1st quarter valued at $36,000. National Bank of Canada FI purchased a new position in shares of UiPath in the 1st quarter valued at approximately $72,000. MRP Capital Investments LLC purchased a new position in shares of UiPath in the 1st quarter valued at approximately $82,000. Finally, Meeder Advisory Services Inc. purchased a new position in shares of UiPath in the 1st quarter valued at approximately $105,000. Hedge funds and other institutional investors own 62.50% of the company's stock.

Insider Activity

In other news, CEO Daniel Dines sold 9,988 shares of UiPath stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $12.00, for a total value of $119,856.00. Following the sale, the chief executive officer directly owned 4,598,388 shares of the company's stock, valued at approximately $55,180,656. The trade was a 0.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold 831,310 shares of company stock valued at $10,428,922 over the last quarter. Insiders own 23.19% of the company's stock.

UiPath Price Performance

Shares of PATH stock traded down $0.04 during trading hours on Thursday, hitting $10.84. The stock had a trading volume of 37,386,605 shares, compared to its average volume of 9,167,626. UiPath, Inc. has a one year low of $9.38 and a one year high of $15.93. The stock's 50-day moving average price is $11.82 and its two-hundred day moving average price is $11.89. The stock has a market capitalization of $5.80 billion, a price-to-earnings ratio of -90.30, a PEG ratio of 14.25 and a beta of 1.02.

Wall Street Analyst Weigh In

PATH has been the subject of a number of research analyst reports. Truist Financial lifted their target price on UiPath from $12.00 to $13.00 and gave the stock a "hold" rating in a report on Friday, May 30th. DA Davidson raised UiPath to a "hold" rating in a report on Tuesday, July 22nd. Wells Fargo & Company reaffirmed an "equal weight" rating on shares of UiPath in a report on Friday, May 30th. Needham & Company LLC reaffirmed a "hold" rating on shares of UiPath in a report on Friday, May 30th. Finally, Evercore ISI lifted their price objective on UiPath from $11.00 to $15.00 and gave the stock an "in-line" rating in a report on Friday, May 30th. Two research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $13.83.

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.