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

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

Analyst Ratings Changes

A number of analysts have commented on the company. UBS Group initiated coverage on UiPath in a research report on Thursday, December 12th. They issued a “sell” rating and a $14.00 price objective for the company. BMO Capital Markets raised their target price on shares of UiPath from $15.00 to $16.00 and gave the company a “market perform” rating in a research note on Friday, December 6th. 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 note on Wednesday, October 23rd. Morgan Stanley lifted their price target 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. Finally, Needham & Company LLC reiterated a “hold” rating on shares of UiPath in a research report on Thursday, December 19th. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $17.44.

UiPath Trading Down 3.4 %

The company has a 50-day moving average of $13.56 and a 200-day moving average of $12.76. The firm has a market capitalization of $7.13 billion, a P/E ratio of -81.06 and a beta of 0.96.

Insider Transactions at UiPath

In other UiPath news, CFO Ashim Gupta sold 47,227 shares of the business’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $13.06, for a total value of $616,784.62. Following the transaction, the chief financial officer now owns 856,538 shares of the company’s stock, 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Hitesh Ramani sold 25,000 shares of the firm’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $13.05, for a total transaction of $326,250.00. Following the sale, the chief accounting officer now owns 269,421 shares of the company’s stock, valued at $3,515,944.05. This trade represents a 8.49 % decrease in their position. The disclosure for this sale can be found here. Insiders own 22.37% of the company’s stock.

Institutional Investors Weigh In On UiPath

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PATH. Senvest Management LLC grew its holdings in UiPath by 16.7% during the 3rd quarter. Senvest Management LLC now owns 10,894,483 shares of the company’s stock valued at $139,449,000 after buying an additional 1,559,500 shares in the last quarter. Geode Capital Management LLC grew its stake in UiPath by 7.2% during the third quarter. Geode Capital Management LLC now owns 7,312,068 shares of the company’s stock valued at $93,619,000 after acquiring an additional 493,502 shares in the last quarter. Pacer Advisors Inc. bought a new stake in UiPath during the 2nd quarter worth approximately $69,180,000. Jacobs Levy Equity Management Inc. lifted its stake in UiPath by 554.8% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 4,026,502 shares of the company’s stock worth $51,539,000 after purchasing an additional 3,411,562 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings 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 valued at $36,997,000 after purchasing an additional 291,171 shares during the period. 62.50% of the stock is currently 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.