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

Key Points

• UiPath insider Raghavendra Malpani sold 40,464 shares at an average price of $14, generating $566,496. The sale reduced his holdings by 2.49% to 1,582,213 shares.
• UiPath shares recently traded at $13.59, up 1.5%, with a market capitalization of approximately $7.04 billion. The stock has ranged from $9.20 to $19.84 over the past year.
• The company’s latest quarterly results met expectations with earnings of $0.15 per share, while revenue of $410.26 million exceeded forecasts and rose 13.3% year over year. Analysts maintain an average “Hold” rating with a $16.75 price target, and institutional investors own 62.5% of the stock.

UiPath, Inc. (NYSE:PATH - Get Free Report) insider Raghavendra Malpani sold 40,464 shares of the stock in a transaction dated Thursday, September 17th. The shares were sold at an average price of $14.00, for a total transaction of $566,496.00. Following the transaction, the insider owned 1,582,213 shares of the company's stock, valued at approximately $22,150,982. The trade was a 2.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

UiPath Stock Up 1.5%

NYSE PATH traded up $0.20 during trading hours on Monday, reaching $13.59. 46,585,144 shares of the company were exchanged, compared to its average volume of 46,983,637. The stock has a market capitalization of $7.04 billion, a P/E ratio of 20.28, a P/E/G ratio of 1.31 and a beta of 1.02. UiPath, Inc. has a 1 year low of $9.20 and a 1 year high of $19.84. The business's 50 day simple moving average is $14.43 and its 200-day simple moving average is $12.18.

UiPath (NYSE:PATH - Get Free Report) last released its earnings results on Thursday, September 3rd. The company reported $0.15 earnings per share for the quarter, meeting analysts' consensus estimates of $0.15. UiPath had a net margin of 21.03% and a return on equity of 9.70%. The firm had revenue of $410.26 million for the quarter, compared to analysts' expectations of $397.77 million. During the same period in the previous year, the company earned $0.15 earnings per share. The company's quarterly revenue was up 13.3% on a year-over-year basis. As a group, sell-side analysts anticipate that UiPath, Inc. will post 0.47 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Pasadena Private Wealth LLC grew its stake in UiPath by 9.0% in the 1st quarter. Pasadena Private Wealth LLC now owns 12,750 shares of the company's stock worth $142,000 after buying an additional 1,050 shares in the last quarter. Allworth Financial LP raised its position in shares of UiPath by 5.2% during the 2nd quarter. Allworth Financial LP now owns 23,537 shares of the company's stock valued at $256,000 after buying an additional 1,160 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in shares of UiPath by 36.5% during the 4th quarter. EverSource Wealth Advisors LLC now owns 4,968 shares of the company's stock valued at $81,000 after buying an additional 1,329 shares in the last quarter. Corient Private Wealth LLC lifted its holdings in shares of UiPath by 5.6% during the 4th quarter. Corient Private Wealth LLC now owns 27,283 shares of the company's stock worth $447,000 after acquiring an additional 1,455 shares during the last quarter. Finally, Wedbush Securities Inc. grew its position in UiPath by 14.0% in the second quarter. Wedbush Securities Inc. now owns 11,920 shares of the company's stock worth $130,000 after acquiring an additional 1,465 shares in the last quarter. 62.50% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PATH has been the subject of several research reports. Citigroup began coverage on UiPath in a report on Tuesday, September 8th. They set a "buy" rating and a $23.00 price objective for the company. Wells Fargo & Company boosted their target price on UiPath from $13.00 to $15.00 and gave the company an "equal weight" rating in a research note on Friday, September 4th. DA Davidson upped their price target on UiPath from $12.00 to $16.00 and gave the company a "neutral" rating in a research report on Friday, September 4th. TD Cowen increased their price target on UiPath from $13.00 to $16.00 and gave the stock a "hold" rating in a research note on Friday, September 4th. Finally, Weiss Ratings raised UiPath from a "hold (c-)" rating to a "hold (c)" rating in a report on Wednesday, September 9th. Three research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $16.75.

UiPath Company Profile

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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