Investors Buy Large Volume of Call Options on UiPath (NYSE:PATH)

UiPath Inc. (NYSE:PATH - Get Free Report) saw unusually large options trading activity on Thursday. Stock investors acquired 21,710 call options on the stock. This represents an increase of 33% compared to the average volume of 16,315 call options.

UiPath Price Performance

Shares of NYSE:PATH traded up $0.87 on Thursday, reaching $24.35. 7,029,446 shares of the company traded hands, compared to its average volume of 8,173,114. The company's 50 day moving average is $23.74 and its 200-day moving average is $19.12. UiPath has a fifty-two week low of $12.38 and a fifty-two week high of $26.52.

UiPath (NYSE:PATH - Get Free Report) last issued its quarterly earnings results on Thursday, November 30th. The healthcare company reported ($0.05) earnings per share for the quarter, topping analysts' consensus estimates of ($0.10) by $0.05. UiPath had a negative return on equity of 5.98% and a negative net margin of 12.51%. The firm had revenue of $325.92 million for the quarter, compared to analysts' expectations of $315.54 million. As a group, equities analysts anticipate that UiPath will post -0.22 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Rich Wong sold 100,000 shares of the firm's stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $18.07, for a total value of $1,807,000.00. Following the completion of the transaction, the director now owns 756,599 shares in the company, valued at $13,671,743.93. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, Director Rich Wong sold 100,000 shares of UiPath stock in a transaction dated Tuesday, November 14th. The shares were sold at an average price of $18.07, for a total transaction of $1,807,000.00. Following the completion of the sale, the director now directly owns 756,599 shares in the company, valued at $13,671,743.93. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Ashim Gupta sold 40,000 shares of the firm's stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $24.88, for a total transaction of $995,200.00. Following the sale, the chief financial officer now owns 1,103,754 shares in the company, valued at approximately $27,461,399.52. The disclosure for this sale can be found here. Over the last three months, insiders have sold 866,000 shares of company stock worth $19,382,520. 31.03% of the stock is owned by company insiders.

Institutional Investors Weigh In On UiPath

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PATH. HighMark Wealth Management LLC purchased a new position in UiPath in the fourth quarter valued at about $27,000. Tyler Stone Wealth Management bought a new stake in shares of UiPath during the 2nd quarter worth about $28,000. Cypress Capital Management LLC WY bought a new position in shares of UiPath in the 4th quarter valued at approximately $29,000. Fifth Third Bancorp grew its holdings in UiPath by 2,005.3% during the third quarter. Fifth Third Bancorp now owns 2,000 shares of the healthcare company's stock valued at $34,000 after purchasing an additional 1,905 shares during the last quarter. Finally, GAMMA Investing LLC acquired a new stake in shares of UiPath in the fourth quarter worth $36,000. Hedge funds and other institutional investors own 59.04% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on PATH shares. William Blair initiated coverage on shares of UiPath in a research note on Tuesday, January 2nd. They set an "outperform" rating for the company. Canaccord Genuity Group increased their price objective on shares of UiPath from $21.00 to $24.00 and gave the company a "buy" rating in a research report on Monday, December 4th. Royal Bank of Canada upped their target price on shares of UiPath from $19.00 to $24.00 and gave the company a "sector perform" rating in a research note on Friday, December 1st. Mizuho boosted their price target on UiPath from $18.00 to $22.00 and gave the stock a "neutral" rating in a research note on Friday, December 1st. Finally, Morgan Stanley increased their price objective on shares of UiPath from $16.00 to $17.00 and gave the company an "equal weight" rating in a research note on Friday, December 1st. Eight analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, UiPath presently has an average rating of "Hold" and an average target price of $22.32.

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

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