UiPath (NYSE:PATH) Stock Price Down 0.2% – Here’s What Happened

UiPath Inc. (NYSE:PATH)’s stock price dropped 0.2% during mid-day trading on Tuesday . The stock traded as low as $12.62 and last traded at $12.71. Approximately 1,114,704 shares traded hands during trading, a decline of 88% from the average daily volume of 9,570,938 shares. The stock had previously closed at $12.74.

Analyst Upgrades and Downgrades

PATH has been the topic of several recent research reports. UBS Group started coverage on shares of UiPath in a report on Thursday, December 12th. They issued a “sell” rating and a $14.00 price target on the stock. TD Cowen decreased their target price on shares of UiPath from $17.00 to $16.00 and set a “hold” rating on the stock in a research report on Friday, September 6th. Bank of America upped their target price on UiPath from $16.00 to $18.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. DA Davidson raised their price target on UiPath from $13.00 to $15.00 and gave the stock a “neutral” rating in a research note on Friday, September 6th. Finally, Morgan Stanley raised their target price on shares of UiPath from $15.00 to $16.00 and gave the stock an “equal weight” rating in a research report on Friday, December 6th. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $17.50.

UiPath Stock Down 0.5 %

The stock has a 50-day moving average of $13.44 and a 200 day moving average of $12.68. The stock has a market cap of $6.97 billion, a PE ratio of -79.25 and a beta of 0.94.

Institutional Trading of UiPath

A number of institutional investors and hedge funds have recently bought and sold shares of PATH. Senvest Management LLC increased its position in UiPath by 16.7% during the third quarter. Senvest Management LLC now owns 10,894,483 shares of the company’s stock worth $139,449,000 after buying an additional 1,559,500 shares in the last quarter. Geode Capital Management LLC grew its position in shares of UiPath by 7.2% in the 3rd quarter. Geode Capital Management LLC now owns 7,312,068 shares of the company’s stock worth $93,619,000 after acquiring an additional 493,502 shares in the last quarter. Pacer Advisors Inc. bought a new position in shares of UiPath in the 2nd quarter worth about $69,180,000. Jacobs Levy Equity Management Inc. lifted its holdings in UiPath by 554.8% in the third quarter. Jacobs Levy Equity Management Inc. now owns 4,026,502 shares of the company’s stock worth $51,539,000 after acquiring an additional 3,411,562 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in UiPath by 11.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,890,360 shares of the company’s stock worth $36,997,000 after purchasing an additional 291,171 shares during 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.