UiPath (NYSE:PATH) Shares Down 2.4% – What’s Next?

UiPath Inc. (NYSE:PATH) was down 2.4% during mid-day trading on Monday . The company traded as low as $12.99 and last traded at $13.02. Approximately 6,101,422 shares changed hands during trading, a decline of 11% from the average daily volume of 6,832,750 shares. The stock had previously closed at $13.35.

Analysts Set New Price Targets

PATH has been the topic of a number of analyst reports. Royal Bank of Canada restated a “sector perform” rating and issued a $16.00 target price on shares of UiPath in a report on Friday, December 6th. UBS Group started coverage on UiPath in a research note on Thursday, December 12th. They issued a “sell” rating and a $14.00 price objective for the company. Wells Fargo & Company cut their target price on UiPath from $15.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 23rd. Barclays lowered their price target on UiPath from $16.00 to $15.00 and set an “equal weight” rating for the company in a research report on Friday, January 10th. Finally, BMO Capital Markets upped their target price on shares of UiPath from $15.00 to $16.00 and gave the stock a “market perform” rating in a research note on Friday, December 6th. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, UiPath currently has a consensus rating of “Hold” and a consensus price target of $17.44.

UiPath Price Performance

The stock has a 50-day simple moving average of $13.57 and a 200-day simple moving average of $12.79.

Insider Activity

In related news, CAO Hitesh Ramani sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $13.05, for a total value 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 approximately $3,515,944.05. This trade represents a 8.49 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Ashim Gupta sold 47,227 shares of the business’s stock in a transaction 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 directly owns 856,538 shares in the company, valued at $11,186,386.28. The trade was a 5.23 % decrease in their position. The disclosure for this sale can be found here. Insiders own 22.37% of the company’s stock.

Hedge Funds Weigh In On UiPath

Several hedge funds have recently made changes to their positions in PATH. American Century Companies Inc. raised its position in shares of UiPath by 9.0% in the second quarter. American Century Companies Inc. now owns 110,910 shares of the company’s stock worth $1,406,000 after buying an additional 9,161 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in UiPath by 37.2% during the second quarter. Dimensional Fund Advisors LP now owns 2,783,571 shares of the company’s stock valued at $35,296,000 after purchasing an additional 754,519 shares during the last quarter. Mercer Global Advisors Inc. ADV purchased a new position in UiPath in the 2nd quarter worth approximately $164,000. Vanguard Personalized Indexing Management LLC increased its holdings in shares of UiPath by 9.0% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 48,468 shares of the company’s stock worth $615,000 after buying an additional 4,003 shares during the last quarter. Finally, Hsbc Holdings PLC raised its position in shares of UiPath by 122.0% during the 2nd quarter. Hsbc Holdings PLC now owns 313,075 shares of the company’s stock valued at $3,941,000 after buying an additional 172,050 shares in the last quarter. 62.50% of the stock is currently owned by hedge funds and other 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.