UiPath (NYSE:PATH) Shares Down 0.7%

UiPath Inc. (NYSE:PATH)’s share price dropped 0.7% during trading on Tuesday . The company traded as low as $22.72 and last traded at $22.92. Approximately 1,678,349 shares were traded during mid-day trading, a decline of 83% from the average daily volume of 9,641,169 shares. The stock had previously closed at $23.07.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. TD Cowen increased their target price on UiPath from $25.00 to $28.00 and gave the company an “outperform” rating in a research note on Thursday, March 14th. Wells Fargo & Company increased their price objective on UiPath from $24.00 to $25.00 and gave the company an “equal weight” rating in a research report on Thursday, March 14th. Bank of America boosted their target price on shares of UiPath from $26.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, March 14th. Royal Bank of Canada reissued a “sector perform” rating and issued a $29.00 price target on shares of UiPath in a report on Wednesday, March 20th. Finally, Truist Financial restated a “buy” rating and issued a $32.00 price target on shares of UiPath in a research report on Wednesday, March 20th. Nine investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $27.44.

UiPath Stock Up 0.3 %

The stock has a market cap of $12.90 billion, a price-to-earnings ratio of -133.99 and a beta of 0.97. The company’s 50-day moving average is $23.63 and its 200-day moving average is $21.03.

Insider Activity

In other UiPath news, Director Rich Wong sold 200,000 shares of the stock in a transaction on Monday, January 8th. The stock was sold at an average price of $23.12, for a total transaction of $4,624,000.00. Following the completion of the transaction, the director now directly owns 429,418 shares in the company, valued at $9,928,144.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Ashim Gupta sold 16,000 shares of UiPath stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $22.47, for a total value of $359,520.00. Following the completion of the transaction, the chief financial officer now owns 103,505 shares in the company, valued at $2,325,757.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Rich Wong sold 200,000 shares of the business’s stock in a transaction that occurred on Monday, January 8th. The stock was sold at an average price of $23.12, for a total value of $4,624,000.00. Following the completion of the transaction, the director now directly owns 429,418 shares in the company, valued at $9,928,144.16. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 427,000 shares of company stock worth $9,784,110. Company insiders own 31.03% of the company’s stock.

Hedge Funds Weigh In On UiPath

Several institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in shares of UiPath by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 38,084,858 shares of the healthcare company’s stock worth $946,028,000 after purchasing an additional 334,085 shares during the last quarter. BlackRock Inc. grew its holdings in UiPath by 32.1% during the 2nd quarter. BlackRock Inc. now owns 23,376,854 shares of the healthcare company’s stock worth $387,354,000 after acquiring an additional 5,681,577 shares during the last quarter. FMR LLC increased its position in UiPath by 2.9% in the 3rd quarter. FMR LLC now owns 16,238,176 shares of the healthcare company’s stock valued at $277,835,000 after acquiring an additional 463,032 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of UiPath by 37.4% in the second quarter. Goldman Sachs Group Inc. now owns 11,662,087 shares of the healthcare company’s stock worth $193,241,000 after acquiring an additional 3,172,300 shares during the last quarter. Finally, Altimeter Capital Management LP lifted its position in shares of UiPath by 175.4% during the first quarter. Altimeter Capital Management LP now owns 8,275,000 shares of the healthcare company’s stock worth $71,579,000 after purchasing an additional 5,270,194 shares in the last quarter. Institutional investors own 62.50% of the company’s stock.

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, and Japan. The company offers a suite of interrelated software to build, manage, run, engage, measure, and govern automation within the organization.