UiPath (NYSE:PATH) Trading Down 4% After Analyst Downgrade

Shares of UiPath Inc. (NYSE:PATH) dropped 4% on Wednesday after JPMorgan Chase & Co. lowered their price target on the stock from $19.00 to $17.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. UiPath traded as low as $12.06 and last traded at $12.13. Approximately 1,152,900 shares were traded during mid-day trading, a decline of 88% from the average daily volume of 9,684,593 shares. The stock had previously closed at $12.64.

PATH has been the topic of a number of other research reports. Bank of America raised their target price on UiPath from $16.00 to $18.00 and gave the company a “neutral” rating in a report on Friday, September 6th. DA Davidson raised their target price on UiPath from $13.00 to $15.00 and gave the company a “neutral” rating in a report on Friday, September 6th. Morgan Stanley reiterated an “equal weight” rating and issued a $15.00 price target on shares of UiPath in a research note on Friday, September 6th. TD Cowen dropped their price target on UiPath from $17.00 to $16.00 and set a “hold” rating for the company in a research note on Friday, September 6th. Finally, Wells Fargo & Company dropped their price target on UiPath from $15.00 to $13.00 and set an “equal weight” rating for the company in a research note on Wednesday. Sixteen investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $17.47.

Insider Transactions at UiPath

In other news, CFO Ashim Gupta sold 47,671 shares of UiPath stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $12.07, for a total value of $575,388.97. Following the completion of the transaction, the chief financial officer now directly owns 849,917 shares of the company’s stock, valued at approximately $10,258,498.19. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 22.37% of the company’s stock.

Institutional Trading of UiPath

Several large investors have recently made changes to their positions in the company. Global Financial Private Client LLC grew its stake in shares of UiPath by 9.3% in the 1st quarter. Global Financial Private Client LLC now owns 6,471 shares of the healthcare company’s stock valued at $144,000 after buying an additional 551 shares during the period. Principal Financial Group Inc. grew its stake in shares of UiPath by 1.7% in the 1st quarter. Principal Financial Group Inc. now owns 36,772 shares of the healthcare company’s stock valued at $834,000 after buying an additional 622 shares during the period. Advisors Asset Management Inc. grew its stake in shares of UiPath by 35.0% in the 1st quarter. Advisors Asset Management Inc. now owns 3,037 shares of the healthcare company’s stock valued at $69,000 after buying an additional 787 shares during the period. Empowered Funds LLC grew its stake in shares of UiPath by 10.5% in the 1st quarter. Empowered Funds LLC now owns 10,856 shares of the healthcare company’s stock valued at $246,000 after buying an additional 1,033 shares during the period. Finally, ORG Partners LLC grew its stake in shares of UiPath by 875.6% in the 1st quarter. ORG Partners LLC now owns 1,239 shares of the healthcare company’s stock valued at $27,000 after buying an additional 1,112 shares during the period. 62.50% of the stock is currently owned by institutional investors and hedge funds.

UiPath Stock Performance

The company has a 50 day moving average price of $12.46 and a 200 day moving average price of $14.24. The company has a market capitalization of $6.91 billion, a price-to-earnings ratio of -75.38 and a beta of 0.88.

UiPath (NYSE:PATH) last released its quarterly earnings results on Thursday, September 5th. The healthcare company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.01. The business had revenue of $316.00 million during the quarter, compared to the consensus estimate of $303.69 million. UiPath had a negative return on equity of 3.98% and a negative net margin of 8.13%. The company’s quarterly revenue was up 10.0% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.09) EPS. Research analysts forecast that UiPath Inc. will post -0.23 EPS for the current year.

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.