UiPath (NYSE:PATH) Shares Down 0.1% – Here’s Why

UiPath Inc. (NYSE:PATH) dropped 0.1% during trading on Wednesday . The company traded as low as $12.92 and last traded at $13.19. Approximately 2,691,865 shares changed hands during mid-day trading, a decline of 68% from the average daily volume of 8,342,358 shares. The stock had previously closed at $13.20.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on PATH shares. JPMorgan Chase & Co. lifted their price target on UiPath from $17.00 to $18.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $16.00 target price on shares of UiPath in a report on Friday, December 6th. Morgan Stanley increased their price target on shares of UiPath from $15.00 to $16.00 and gave the company an “equal weight” rating in a report on Friday, December 6th. UBS Group initiated coverage on shares of UiPath in a report on Thursday, December 12th. They issued a “sell” rating and a $14.00 price objective for the company. Finally, BMO Capital Markets lifted their target price on UiPath from $15.00 to $16.00 and gave the stock a “market perform” rating in a report on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $17.50.

UiPath Stock Up 2.0 %

The firm has a market capitalization of $7.40 billion, a PE ratio of -84.19 and a beta of 0.96. The stock’s fifty day simple moving average is $13.51 and its 200 day simple moving average is $12.75.

Insider Transactions at UiPath

In other UiPath news, CFO Ashim Gupta sold 47,227 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $13.06, for a total transaction of $616,784.62. Following the sale, the chief financial officer now owns 856,538 shares in the company, valued at approximately $11,186,386.28. This trade represents a 5.23 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Hitesh Ramani sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, January 3rd. The stock was 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 owns 269,421 shares of the company’s stock, valued at approximately $3,515,944.05. The trade was a 8.49 % 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 company insiders.

Institutional Investors Weigh In On UiPath

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Future Financial Wealth Managment LLC bought a new position in shares of UiPath during the third quarter worth $26,000. JTC Employer Solutions Trustee Ltd purchased a new position in shares of UiPath during the third quarter valued at about $26,000. Quarry LP increased its holdings in shares of UiPath by 654.4% in the third quarter. Quarry LP now owns 3,146 shares of the company’s stock worth $40,000 after purchasing an additional 2,729 shares during the last quarter. Redwood Wealth Management Group LLC purchased a new stake in shares of UiPath in the second quarter worth about $43,000. Finally, Allspring Global Investments Holdings LLC boosted its stake in UiPath by 124.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 4,098 shares of the company’s stock valued at $52,000 after buying an additional 2,274 shares during the last quarter. 62.50% of the stock is owned by institutional investors.

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.