Check Out What Whales Are Doing With PATH

Author: Benzinga Insights | March 22, 2024 12:01pm

High-rolling investors have positioned themselves bearish on UiPath (NYSE:PATH), and it's important for retail traders to take note. \This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in PATH often signals that someone has privileged information.

Today, Benzinga's options scanner spotted 8 options trades for UiPath. This is not a typical pattern.

The sentiment among these major traders is split, with 37% bullish and 62% bearish. Among all the options we identified, there was one put, amounting to $152,075, and 7 calls, totaling $329,310.

Predicted Price Range

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $17.5 and $26.0 for UiPath, spanning the last three months.

Volume & Open Interest Trends

In terms of liquidity and interest, the mean open interest for UiPath options trades today is 1063.67 with a total volume of 1,931.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for UiPath's big money trades within a strike price range of $17.5 to $26.0 over the last 30 days.

UiPath 30-Day Option Volume & Interest Snapshot

Biggest Options Spotted:

Symbol	PUT/CALL	Trade Type	Sentiment	Exp. Date	Strike Price	Total Trade Price	Open Interest	Volume
PATH	PUT	SWEEP	BULLISH	06/21/24	$26.00	$152.0K	411	395
PATH	CALL	SWEEP	BEARISH	08/16/24	$20.00	$123.1K	1.5K	254
PATH	CALL	SWEEP	NEUTRAL	03/28/24	$21.00	$45.9K	163	0
PATH	CALL	TRADE	BULLISH	05/17/24	$26.00	$44.1K	3.5K	641
PATH	CALL	TRADE	BEARISH	01/16/26	$17.50	$38.4K	267	40

About UiPath

UiPath Inc creates an end-to-end platform that provides automation with user emulation at its core. Its platform is built to be used by employees throughout a company and to address a wide variety of use cases, from simple tasks to long-running, complex business processes. It generates revenue from the sale of licenses for its proprietary software, maintenance and support, and professional services. It generates a majority of its revenues from the US, followed by Romania.

In light of the recent options history for UiPath, it's now appropriate to focus on the company itself. We aim to explore its current performance.

Present Market Standing of UiPath

• Trading volume stands at 2,787,693, with PATH's price down by -0.09%, positioned at $23.45.
• RSI indicators show the stock to be is currently neutral between overbought and oversold.
• Earnings announcement expected in 61 days.

What Analysts Are Saying About UiPath

5 market experts have recently issued ratings for this stock, with a consensus target price of $29.0.

• An analyst from RBC Capital downgraded its action to Sector Perform with a price target of $29.
• An analyst from Truist Securities downgraded its action to Buy with a price target of $32.
• An analyst from Morgan Stanley has decided to maintain their Equal-Weight rating on UiPath, which currently sits at a price target of $25.
• Consistent in their evaluation, an analyst from RBC Capital keeps a Sector Perform rating on UiPath with a target price of $29.
• Maintaining their stance, an analyst from Scotiabank continues to hold a Sector Perform rating for UiPath, targeting a price of $30.

Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest UiPath options trades with real-time alerts from Benzinga Pro.

Posted In: PATH