UiPath Sees Unusually High Options Volume (NYSE:PATH)

UiPath Inc. (NYSE:PATH - Get Free Report) was the recipient of unusually large options trading activity on Wednesday. Investors bought 22,720 call options on the stock. This represents an increase of 32% compared to the typical daily volume of 17,204 call options.

UiPath Trading Up 2.6%

PATH stock traded up $0.34 during mid-day trading on Friday, hitting $13.28. 47,371,291 shares of the company were exchanged, compared to its average volume of 10,666,374. UiPath has a 1-year low of $9.38 and a 1-year high of $15.93. The stock has a market capitalization of $7.32 billion, a PE ratio of -83.00 and a beta of 1.01. The business has a 50 day simple moving average of $11.53 and a 200-day simple moving average of $12.69.

UiPath (NYSE:PATH - Get Free Report) last released its quarterly earnings results on Thursday, May 29th. The company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.01. The business had revenue of $356.62 million during the quarter, compared to analysts' expectations of $332.17 million. UiPath had a negative return on equity of 4.14% and a negative net margin of 6.49%. The firm's revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period last year, the firm posted $0.13 EPS. Equities research analysts expect that UiPath will post -0.17 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Morgan Stanley reduced their price objective on shares of UiPath from $16.00 to $12.00 and set an "equal weight" rating for the company in a research note on Thursday, March 13th. Bank of America reissued an "underperform" rating and set a $10.00 price target (down from $18.00) on shares of UiPath in a research report on Thursday, March 13th. DA Davidson boosted their price target on UiPath from $11.00 to $14.00 and gave the stock a "neutral" rating in a research report on Friday. Needham & Company LLC reiterated a "hold" rating on shares of UiPath in a research note on Friday. Finally, Canaccord Genuity Group cut their price objective on UiPath from $19.00 to $14.00 and set a "buy" rating for the company in a report on Thursday, March 13th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $13.41.

Insiders Place Their Bets

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

Institutional Investors Weigh In On UiPath

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Acadian Asset Management LLC grew its stake in shares of UiPath by 222.6% in the first quarter. Acadian Asset Management LLC now owns 4,241,047 shares of the company's stock valued at $43,667,000 after acquiring an additional 2,926,263 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in UiPath by 5.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,477,730 shares of the company's stock valued at $15,221,000 after purchasing an additional 75,737 shares during the period. Woodline Partners LP grew its position in shares of UiPath by 69.6% during the 1st quarter. Woodline Partners LP now owns 22,566 shares of the company's stock worth $232,000 after purchasing an additional 9,257 shares in the last quarter. Great Lakes Advisors LLC bought a new position in shares of UiPath during the first quarter worth approximately $3,165,000. Finally, Voleon Capital Management LP acquired a new stake in shares of UiPath in the first quarter valued at approximately $437,000. Institutional investors and hedge funds own 62.50% of the company's stock.

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.