UiPath (NYSE:PATH) Shares Down 1.1% – What’s Next?

UiPath Inc. (NYSE:PATH)’s stock price fell 1.1% during mid-day trading on Thursday . The stock traded as low as $13.17 and last traded at $13.22. 2,521,140 shares changed hands during mid-day trading, a decline of 68% from the average session volume of 7,951,600 shares. The stock had previously closed at $13.37.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on PATH shares. Royal Bank of Canada restated 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 research report on Thursday, December 12th. They set a “sell” rating and a $14.00 price target for the company. Barclays reduced their target price 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. JPMorgan Chase & Co. increased their target price on shares of UiPath from $17.00 to $18.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Finally, Needham & Company LLC restated a “hold” rating on shares of UiPath in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $17.44.

UiPath Stock Performance

The firm has a 50-day moving average price of $13.59 and a two-hundred day moving average price of $12.79. The firm has a market cap of $7.16 billion, a price-to-earnings ratio of -81.40 and a beta of 0.96.

Insider Buying and Selling at UiPath

In other news, CAO Hitesh Ramani sold 25,000 shares of UiPath stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $13.05, for a total value of $326,250.00. Following the completion of the sale, the chief accounting officer now owns 269,421 shares of the company’s stock, valued at $3,515,944.05. The trade was a 8.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 value of $616,784.62. Following the sale, the chief financial officer now directly owns 856,538 shares of the company’s stock, valued at approximately $11,186,386.28. This trade represents a 5.23 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 22.37% of the company’s stock.

Institutional Trading of UiPath

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Future Financial Wealth Managment LLC acquired a new stake in shares of UiPath during the 3rd quarter valued at $26,000. JTC Employer Solutions Trustee Ltd acquired a new position in UiPath during the third quarter worth $26,000. Quarry LP increased its position in UiPath by 654.4% during the third quarter. Quarry LP now owns 3,146 shares of the company’s stock worth $40,000 after buying an additional 2,729 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of UiPath by 124.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 4,098 shares of the company’s stock valued at $52,000 after purchasing an additional 2,274 shares during the last quarter. Finally, True Wealth Design LLC grew its position in shares of UiPath by 21,710.0% in the third quarter. True Wealth Design LLC now owns 4,362 shares of the company’s stock valued at $56,000 after purchasing an additional 4,342 shares during the last quarter. 62.50% of the stock is currently owned by institutional investors and hedge funds.

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.