UiPath (NYSE:PATH) Shares Down 1.7% on Analyst Downgrade

UiPath Inc. (NYSE:PATH)’s share price was down 1.7% during mid-day trading on Monday after Barclays lowered their price target on the stock from $16.00 to $15.00. Barclays currently has an equal weight rating on the stock. UiPath traded as low as $12.62 and last traded at $12.75. Approximately 1,727,634 shares changed hands during mid-day trading, a decline of 79% from the average daily volume of 8,342,426 shares. The stock had previously closed at $12.97.

A number of other analysts have also issued reports on PATH. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $16.00 price target on shares of UiPath in a research note on Friday, December 6th. UBS Group started coverage on shares of UiPath in a report on Thursday, December 12th. They set a “sell” rating and a $14.00 target price for the company. Wells Fargo & Company decreased their price target on shares of UiPath from $15.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. boosted their price target on shares of UiPath from $17.00 to $18.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of UiPath in a report on Thursday, December 19th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, UiPath has a consensus rating of “Hold” and an average target price of $17.44.

Insider Transactions at UiPath

In related news, 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 transaction, the chief accounting officer now owns 269,421 shares in the company, valued at $3,515,944.05. This trade represents a 8.49 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Ashim Gupta sold 47,227 shares of the business’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $13.06, for a total value of $616,784.62. Following the completion of the sale, the chief financial officer now owns 856,538 shares of the company’s stock, valued at approximately $11,186,386.28. This represents a 5.23 % decrease in their position. The disclosure for this sale can be found here. Insiders own 22.37% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Ontario Teachers Pension Plan Board grew its holdings in shares of UiPath by 136.0% during the third quarter. Ontario Teachers Pension Plan Board now owns 108,725 shares of the company’s stock worth $1,392,000 after buying an additional 62,650 shares during the last quarter. D.A. Davidson & CO. increased its stake in shares of UiPath by 60.1% during the third quarter. D.A. Davidson & CO. now owns 557,667 shares of the company’s stock worth $7,138,000 after acquiring an additional 209,300 shares during the period. Stifel Financial Corp raised its stake in shares of UiPath by 30.1% during the 3rd quarter. Stifel Financial Corp now owns 323,818 shares of the company’s stock worth $4,145,000 after buying an additional 74,959 shares in the last quarter. Senvest Management LLC boosted its position in shares of UiPath by 16.7% during the 3rd quarter. Senvest Management LLC now owns 10,894,483 shares of the company’s stock worth $139,449,000 after purchasing an additional 1,559,500 shares in the last quarter. Finally, Quantbot Technologies LP increased its holdings in shares of UiPath by 667.7% in the 3rd quarter. Quantbot Technologies LP now owns 101,718 shares of the company’s stock valued at $1,302,000 after purchasing an additional 88,468 shares in the last quarter. 62.50% of the stock is owned by hedge funds and other institutional investors.

UiPath Price Performance

The company’s 50 day moving average is $13.56 and its 200 day moving average is $12.77. The stock has a market cap of $6.99 billion, a price-to-earnings ratio of -79.50 and a beta of 0.96.

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.