Traders Purchase Large Volume of UiPath Call Options (NYSE:PATH)

UiPath Inc. (NYSE:PATH - Get Free Report) saw some unusual options trading on Wednesday. Stock investors bought 22,720 call options on the company. This represents an increase of 32% compared to the typical volume of 17,204 call options.

Insider Buying and Selling at UiPath

In other news, CAO Hitesh Ramani sold 12,500 shares of the business's stock in a transaction on Thursday, April 3rd. The shares were sold at an average price of $10.19, for a total transaction of $127,375.00. Following the completion of the transaction, the chief accounting officer now owns 314,891 shares of the company's stock, valued at approximately $3,208,739.29. The trade was a 3.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Ashim Gupta sold 98,795 shares of the stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $12.01, for a total transaction of $1,186,527.95. Following the completion of the sale, the chief financial officer now directly owns 987,322 shares in the company, valued at approximately $11,857,737.22. This trade represents a 9.10% decrease in their position. The disclosure for this sale can be found here. 23.19% of the stock is currently owned by insiders.

Institutional Investors Weigh In On UiPath

A number of hedge funds and other institutional investors have recently made changes to their positions in PATH. Smartleaf Asset Management LLC raised its position in UiPath by 88.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,454 shares of the company's stock valued at $31,000 after acquiring an additional 1,152 shares in the last quarter. Versant Capital Management Inc lifted its stake in shares of UiPath by 198.6% in the 1st quarter. Versant Capital Management Inc now owns 2,962 shares of the company's stock valued at $31,000 after purchasing an additional 1,970 shares during the last quarter. First Horizon Advisors Inc. boosted its holdings in UiPath by 47.8% in the fourth quarter. First Horizon Advisors Inc. now owns 2,487 shares of the company's stock worth $32,000 after purchasing an additional 804 shares in the last quarter. CX Institutional acquired a new position in UiPath during the first quarter worth $36,000. Finally, EverSource Wealth Advisors LLC raised its holdings in UiPath by 141.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 2,974 shares of the company's stock valued at $38,000 after buying an additional 1,742 shares in the last quarter. 62.50% of the stock is owned by hedge funds and other institutional investors.

UiPath Trading Up 2.0%

NYSE PATH traded up $0.26 during trading on Wednesday, reaching $12.93. 4,731,911 shares of the company's stock were exchanged, compared to its average volume of 10,898,096. UiPath has a fifty-two week low of $9.38 and a fifty-two week high of $19.09. The company's fifty day simple moving average is $11.41 and its 200-day simple moving average is $12.70. The firm has a market capitalization of $7.13 billion, a PE ratio of -80.78 and a beta of 1.01.

Analyst Ratings Changes

Several analysts recently commented on PATH shares. Barclays lowered their target price on UiPath from $15.00 to $12.00 and set an "equal weight" rating on the stock in a research report on Thursday, March 13th. Canaccord Genuity Group reduced their price target on shares of UiPath from $19.00 to $14.00 and set a "buy" rating for the company in a research note on Thursday, March 13th. Needham & Company LLC reiterated a "hold" rating on shares of UiPath in a research report on Wednesday, March 26th. Evercore ISI dropped their price target on UiPath from $16.00 to $12.00 and set an "in-line" rating on the stock in a report on Thursday, March 13th. Finally, Morgan Stanley reduced their price objective on UiPath from $16.00 to $12.00 and set an "equal weight" rating for the company in a research note on Thursday, March 13th. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, UiPath currently has an average rating of "Hold" and a consensus price target of $12.72.

UiPath Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.