Uipath Insider Sold $4.5M In Company Stock

Neergaard Thomas Hansen, Chief Revenue Officer at Uipath PATH, made a large insider sell on November 4, according to a new SEC filing.

What Happened: A Form 4 filing from the U.S. Securities and Exchange Commission on Thursday showed that Hansen sold 80,000 shares of Uipath at a price of $56.28. The total transaction amounted to $4,502,336.

Following the transaction, Hansen still owns 1,322,723 shares of Uipath worth $75,566,239.

Uipath shares are trading up 1.11% at $57.13 at the time of this writing on Tuesday morning.

Now trade stocks online commission free with Charles Schwab, a trusted and complete investment firm.

The Importance of Insider Transactions

Insider transactions shouldn't be used primarily to make an investing decision, however, they can be an important factor for an investor to consider.

In legal terms, an "insider" refers to any shareholder who owns at least 10% of a company. This can include executives in the c-suite and large hedge funds. These insiders are required to let the public know of their transactions via a Form 4 filing, which must be filed within two business days of the transaction.

When a company insider makes a new purchase, that is an indication that they expect the stock to rise.

Insider sells, on the other hand, can be made for a variety of reasons, and may not necessarily mean that the seller thinks the stock will go down.

Important Transaction Codes

Investors prefer focusing on transactions that take place in the open market, indicated in Table I of the Form 4 filing. A P in Box 3 indicates a purchase, while S indicates a sale. Transaction code C indicates the conversion of an option, and transaction code A indicates the insider may have been forced to sell shares in order to receive compensation that had been promised upon being hired by the company.

Check Out The Full List Of Uipath's Insider Trades.

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: NewsInsider TradesTrading IdeasBZI-ITInsider sellsNeergaard Thomas Hansen
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!