UiPath Inc. (NYSE:PATH) Sees Large Increase in Short Interest

UiPath Inc. (NYSE:PATH - Get Free Report) was the target of a large growth in short interest in April. As of April 15th, there was short interest totalling 37,730,000 shares, a growth of 25.1% from the March 31st total of 30,160,000 shares. Approximately 9.1% of the company's stock are short sold. Based on an average daily volume of 12,840,000 shares, the short-interest ratio is presently 2.9 days.

UiPath Price Performance

UiPath stock traded up $0.09 during trading hours on Friday, reaching $11.97. The stock had a trading volume of 6,644,047 shares, compared to its average volume of 10,751,995. The company has a fifty day simple moving average of $11.09 and a 200-day simple moving average of $12.72. The stock has a market cap of $6.60 billion, a PE ratio of -74.81 and a beta of 1.04. UiPath has a 52 week low of $9.38 and a 52 week high of $20.95.

Analyst Ratings Changes

Several research firms have issued reports on PATH. Canaccord Genuity Group dropped their target price on UiPath from $19.00 to $14.00 and set a "buy" rating on the stock in a research report on Thursday, March 13th. UBS Group cut their target price on UiPath from $14.00 to $10.00 and set a "sell" rating for the company in a research note on Thursday, March 13th. Barclays decreased their price target 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. Wells Fargo & Company cut their price objective on shares of UiPath from $13.00 to $11.00 and set an "equal weight" rating for the company in a research report on Thursday, March 13th. Finally, Royal Bank of Canada reaffirmed a "sector perform" rating and set a $13.00 target price on shares of UiPath in a report on Wednesday, March 26th. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $12.72.

Insiders Place Their Bets

In other news, CFO Ashim Gupta sold 98,795 shares of the stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $12.01, for a total transaction of $1,186,527.95. Following the completion of the transaction, the chief financial officer now directly owns 987,322 shares of the company's stock, valued at $11,857,737.22. This represents a 9.10 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 value of $127,375.00. Following the completion of the sale, the chief accounting officer now owns 314,891 shares in the company, valued at approximately $3,208,739.29. The trade was a 3.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 22.37% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Jackson Creek Investment Advisors LLC bought a new stake in UiPath in the fourth quarter valued at $298,000. Principal Financial Group Inc. lifted its position in shares of UiPath by 10.5% in the 3rd quarter. Principal Financial Group Inc. now owns 36,685 shares of the company's stock worth $470,000 after purchasing an additional 3,477 shares during the period. ING Groep NV bought a new stake in shares of UiPath during the 4th quarter valued at about $3,120,000. Pacer Advisors Inc. increased its position in shares of UiPath by 698.1% during the fourth quarter. Pacer Advisors Inc. now owns 289,471 shares of the company's stock valued at $3,679,000 after buying an additional 253,203 shares during the period. Finally, Savant Capital LLC raised its stake in UiPath by 483.1% in the fourth quarter. Savant Capital LLC now owns 225,906 shares of the company's stock worth $2,871,000 after buying an additional 187,161 shares in the last quarter. Institutional investors 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.

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