UiPath (NYSE:PATH) Trading 1.6% Higher

UiPath Inc. (NYSE:PATH)’s stock price was up 1.6% during trading on Thursday . The company traded as high as $12.42 and last traded at $12.41. Approximately 2,376,543 shares were traded during mid-day trading, a decline of 76% from the average daily volume of 9,839,053 shares. The stock had previously closed at $12.22.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Canaccord Genuity Group lowered their target price on UiPath from $30.00 to $19.00 and set a “buy” rating for the company in a research report on Friday, May 31st. Wells Fargo & Company dropped their price objective on shares of UiPath from $15.00 to $14.00 and set an “equal weight” rating for the company in a research note on Friday, June 21st. Scotiabank lowered their price target on shares of UiPath from $30.00 to $25.00 and set a “sector perform” rating for the company in a report on Wednesday, May 29th. Truist Financial reissued a “hold” rating and set a $14.00 price objective (down from $32.00) on shares of UiPath in a research note on Thursday, May 30th. Finally, Bank of America reaffirmed a “neutral” rating and issued a $16.00 price objective (down from $30.00) on shares of UiPath in a research note on Thursday, May 30th. Sixteen analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $18.06.

UiPath Stock Performance

The firm has a market capitalization of $7.22 billion, a P/E ratio of -77.56 and a beta of 0.85. The stock’s 50 day simple moving average is $16.42 and its 200 day simple moving average is $20.95.

UiPath (NYSE:PATH) last announced its quarterly earnings data on Wednesday, May 29th. The healthcare company reported ($0.03) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.03). The company had revenue of $335.11 million for the quarter, compared to analysts’ expectations of $332.84 million. UiPath had a negative return on equity of 2.97% and a negative net margin of 6.41%. On average, analysts anticipate that UiPath Inc. will post -0.2 earnings per share for the current year.

Insider Activity

In other news, CFO Ashim Gupta sold 40,000 shares of the business’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $21.66, for a total value of $866,400.00. Following the completion of the sale, the chief financial officer now owns 660,762 shares in the company, valued at approximately $14,312,104.92. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 22.37% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Royal London Asset Management Ltd. lifted its position in UiPath by 5.9% during the third quarter. Royal London Asset Management Ltd. now owns 139,544 shares of the healthcare company’s stock valued at $2,388,000 after acquiring an additional 7,742 shares during the last quarter. Swiss National Bank boosted its position in shares of UiPath by 4.9% in the 4th quarter. Swiss National Bank now owns 1,211,500 shares of the healthcare company’s stock worth $30,094,000 after purchasing an additional 56,600 shares in the last quarter. Vestmark Advisory Solutions Inc. purchased a new position in UiPath during the 4th quarter worth $15,543,000. O Shaughnessy Asset Management LLC purchased a new position in UiPath during the 3rd quarter worth $203,000. Finally, Invesco Ltd. increased its position in UiPath by 2.8% during the 3rd quarter. Invesco Ltd. now owns 399,181 shares of the healthcare company’s stock valued at $6,830,000 after buying an additional 10,863 shares in the last quarter. 62.50% of the stock is currently owned by hedge funds and other institutional investors.

UiPath Company Profile

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.