UiPath (NYSE:PATH) Shares Down 1.1% – Here’s Why

UiPath Inc. (NYSE:PATH) fell 1.1% on Thursday . The company traded as low as $13.17 and last traded at $13.22. 2,521,140 shares traded hands during trading, a decline of 68% from the average session volume of 7,951,600 shares. The stock had previously closed at $13.37.

Analysts Set New Price Targets

Several brokerages recently issued reports on PATH. JPMorgan Chase & Co. boosted their target price on shares of UiPath from $17.00 to $18.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. BMO Capital Markets raised their target price on shares of UiPath from $15.00 to $16.00 and gave the company a “market perform” rating in a report on Friday, December 6th. Barclays dropped their price target on shares of UiPath from $16.00 to $15.00 and set an “equal weight” rating for the company in a research note on Friday, January 10th. Morgan Stanley lifted their price target on shares of UiPath from $15.00 to $16.00 and gave the company an “equal weight” rating in a research note on Friday, December 6th. Finally, Wells Fargo & Company cut their target price on shares of UiPath from $15.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat, UiPath currently has a consensus rating of “Hold” and a consensus target price of $17.44.

UiPath Price Performance

The stock’s 50 day moving average price is $13.59 and its two-hundred day moving average price is $12.79. The firm has a market capitalization of $7.16 billion, a price-to-earnings ratio of -81.40 and a beta of 0.96.

Insider Buying and Selling

In other UiPath news, CAO Hitesh Ramani sold 25,000 shares of UiPath stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $13.05, for a total transaction of $326,250.00. Following the completion of the transaction, the chief accounting officer now directly owns 269,421 shares of the company’s stock, valued at $3,515,944.05. The trade was a 8.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Ashim Gupta sold 47,227 shares of UiPath stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $13.06, for a total transaction of $616,784.62. Following the transaction, the chief financial officer now directly owns 856,538 shares of the company’s stock, valued at approximately $11,186,386.28. This trade represents a 5.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 22.37% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Ontario Teachers Pension Plan Board boosted its position in shares of UiPath by 136.0% during the third quarter. Ontario Teachers Pension Plan Board now owns 108,725 shares of the company’s stock valued at $1,392,000 after buying an additional 62,650 shares during the last quarter. D.A. Davidson & CO. grew its position in UiPath by 60.1% during the third quarter. D.A. Davidson & CO. now owns 557,667 shares of the company’s stock worth $7,138,000 after buying an additional 209,300 shares in the last quarter. Stifel Financial Corp grew its position in UiPath by 30.1% during the third quarter. Stifel Financial Corp now owns 323,818 shares of the company’s stock worth $4,145,000 after buying an additional 74,959 shares in the last quarter. Senvest Management LLC boosted its holdings in shares of UiPath by 16.7% in the 3rd quarter. Senvest Management LLC now owns 10,894,483 shares of the company’s stock worth $139,449,000 after purchasing an additional 1,559,500 shares in the last quarter. Finally, Quantbot Technologies LP lifted its stake in shares of UiPath by 667.7% in the 3rd quarter. Quantbot Technologies LP now owns 101,718 shares of the company’s stock valued at $1,302,000 after acquiring an additional 88,468 shares during the last quarter. 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.