UiPath (NYSE:PATH) Stock: Insider Raghavendra Malpani Sells 29,565 Shares

Key Points

• UiPath insider Raghavendra Malpani sold 29,565 shares at an average price of $14, generating $413,910. He retained 1,484,716 shares after the transaction and has made additional sales in recent months.
• UiPath shares rose 1.3% to $14.32, while the company reported quarterly revenue of $410.26 million, up 13.3% year over year, and earnings of $0.15 per share, in line with estimates.
• Analysts hold a generally cautious view: UiPath has an average rating of “Hold” and an average price target of $15.69, with 62.5% of the stock owned by institutional investors.

UiPath, Inc. (NYSE:PATH - Get Free Report) insider Raghavendra Malpani sold 29,565 shares of the firm's stock in a transaction on Thursday, October 22nd. The shares were sold at an average price of $14.00, for a total value of $413,910.00. Following the completion of the transaction, the insider owned 1,484,716 shares of the company's stock, valued at approximately $20,786,024. This represents a 1.95% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Raghavendra Malpani also recently made the following trade(s):

• On Friday, October 9th, Raghavendra Malpani sold 29,564 shares of UiPath stock. The stock was sold at an average price of $13.51, for a total value of $399,409.64.
• On Thursday, September 17th, Raghavendra Malpani sold 40,464 shares of UiPath stock. The stock was sold at an average price of $14.00, for a total value of $566,496.00.

UiPath Stock Up 1.3%

Shares of UiPath stock traded up $0.19 on Monday, hitting $14.32. The company's stock had a trading volume of 29,063,631 shares, compared to its average volume of 45,260,188. UiPath, Inc. has a 52-week low of $9.20 and a 52-week high of $19.84. The firm has a fifty day moving average price of $14.48 and a 200-day moving average price of $12.48. The company has a market capitalization of $7.46 billion, a P/E ratio of 21.37, a price-to-earnings-growth ratio of 1.33 and a beta of 1.01.

UiPath (NYSE:PATH - Get Free Report) last issued its quarterly earnings data on Thursday, September 3rd. The company reported $0.15 EPS 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 prior year, the company earned $0.15 EPS. The firm's revenue was up 13.3% on a year-over-year basis. As a group, analysts expect that UiPath, Inc. will post 0.49 earnings per share for the current year.

Institutional Investors Weigh In On UiPath

Several institutional investors have recently bought and sold shares of PATH. Trifecta Capital Advisors LLC purchased a new position in shares of UiPath in the 2nd quarter valued at $27,000. CoreCap Advisors LLC boosted its position in UiPath by 68.7% during the 3rd quarter. CoreCap Advisors LLC now owns 2,679 shares of the company's stock worth $34,000 after purchasing an additional 1,091 shares during the period. AdvisorNet Financial Inc boosted its position in UiPath by 750.0% during the 1st quarter. AdvisorNet Financial Inc now owns 3,400 shares of the company's stock worth $38,000 after purchasing an additional 3,000 shares during the period. Global Retirement Partners LLC acquired a new stake in UiPath in the 2nd quarter valued at $57,000. Finally, Versant Capital Management Inc increased its holdings in UiPath by 103.6% in the 3rd quarter. Versant Capital Management Inc now owns 4,845 shares of the company's stock valued at $62,000 after purchasing an additional 2,465 shares in the last quarter. 62.50% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have issued reports on PATH shares. Wells Fargo & Company raised their price target on UiPath from $13.00 to $15.00 and gave the stock an "equal weight" rating in a research note on Friday, September 4th. Needham & Company LLC reaffirmed a "buy" rating and set a $22.00 price objective on shares of UiPath in a research note on Wednesday, September 23rd. Barclays upped their price objective on shares of UiPath from $14.00 to $17.00 and gave the company an "equal weight" rating in a research note on Friday, September 4th. TD Cowen reiterated a "hold" rating and set a $16.00 price objective on shares of UiPath in a report on Wednesday, September 23rd. Finally, Royal Bank Of Canada reissued an "outperform" rating on shares of UiPath in a research report on Wednesday, September 23rd. Four research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, UiPath currently has an average rating of "Hold" and an average price target of $15.69.

About UiPath

UiPath, Inc develops enterprise automation software that helps organizations automate repetitive, rules-based and increasingly complex business processes. Its platform combines robotic process automation with artificial intelligence, workflow orchestration, process mining, document processing and application integration capabilities.

The company's products are designed to support the discovery, development, deployment and management of software robots and AI-powered automations across functions such as finance, customer service, human resources, information technology and operations.

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