UiPath (NYSE:PATH) Shares Down 3.7% – What’s Next?

UiPath Inc. (NYSE:PATH) fell 3.7% during trading on Wednesday . The company traded as low as $14.48 and last traded at $14.63. 1,710,035 shares traded hands during mid-day trading, a decline of 80% from the average session volume of 8,360,739 shares. The stock had previously closed at $15.19.

Wall Street Analysts Forecast Growth

PATH has been the subject of a number of research analyst reports. Barclays decreased their price objective on shares of UiPath from $16.00 to $15.00 and set an “equal weight” rating for the company in a report on Friday, January 10th. Royal Bank of Canada reissued a “sector perform” rating and issued a $16.00 price objective on shares of UiPath in a research note on Friday, December 6th. Morgan Stanley upped their price objective on shares of UiPath from $15.00 to $16.00 and gave the stock an “equal weight” rating in a research note on Friday, December 6th. Needham & Company LLC reissued a “hold” rating on shares of UiPath in a research note on Wednesday, January 15th. Finally, Wells Fargo & Company dropped 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. One investment 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 MarketBeat, the stock has an average rating of “Hold” and an average target price of $17.44.

UiPath Price Performance

The business’s 50 day moving average price is $13.70 and its 200 day moving average price is $12.84. The firm has a market cap of $7.76 billion, a PE ratio of -88.40 and a beta of 0.96.

Insider Buying and Selling

In related news, CFO Ashim Gupta sold 47,227 shares of the business’s stock in a transaction dated Friday, January 3rd. The shares were 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 in the company, valued at approximately $11,186,386.28. The trade was a 5.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Hitesh Ramani sold 25,000 shares of the firm’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 directly owns 269,421 shares in the company, valued at $3,515,944.05. This trade represents 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 insiders.

Institutional Trading of UiPath

Several hedge funds have recently made changes to their positions in PATH. 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 valued at $51,539,000 after acquiring an additional 3,411,562 shares during the last quarter. Senvest Management LLC lifted its stake 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 valued at $139,449,000 after purchasing an additional 1,559,500 shares during the last quarter. Worldquant Millennium Advisors LLC purchased a new position in shares of UiPath during the 3rd quarter worth $19,071,000. AQR Capital Management LLC increased its position in shares of UiPath by 120.6% during the 2nd quarter. AQR Capital Management LLC now owns 1,633,393 shares of the company’s stock worth $20,385,000 after purchasing an additional 892,845 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in UiPath by 37.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,783,571 shares of the company’s stock valued at $35,296,000 after buying an additional 754,519 shares during the period. Hedge funds and other institutional investors own 62.50% of the company’s stock.

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.