UiPath (NYSE:PATH) Shares Down 0.5% – Time to Sell?

UiPath Inc. (NYSE:PATH) dropped 0.5% during trading on Friday . The stock traded as low as $12.81 and last traded at $12.86. Approximately 1,571,475 shares were traded during trading, a decline of 55% from the average daily volume of 3,511,043 shares. The stock had previously closed at $12.93.

Analysts Set New Price Targets

PATH has been the subject of a number of analyst reports. Morgan Stanley upped their price objective on shares of UiPath from $15.00 to $16.00 and gave the company an “equal weight” rating in a report on Friday, December 6th. Royal Bank of Canada reissued a “sector perform” rating and issued a $16.00 price target on shares of UiPath in a research note on Friday, December 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of UiPath in a research report on Thursday, December 19th. BMO Capital Markets increased their price objective on UiPath from $15.00 to $16.00 and gave the stock a “market perform” rating in a research report on Friday, December 6th. Finally, UBS Group initiated coverage on UiPath in a research report on Thursday, December 12th. They issued a “sell” rating and a $14.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $17.50.

UiPath Stock Performance

The stock has a market capitalization of $7.30 billion, a PE ratio of -83.00 and a beta of 0.96. The firm’s 50 day moving average is $13.48 and its two-hundred day moving average is $12.71.

Institutional Trading of UiPath

Large investors have recently modified their holdings of the stock. Everence Capital Management Inc. purchased a new position in UiPath in the fourth quarter valued at $241,000. Principal Financial Group Inc. boosted its stake in shares of UiPath by 10.5% in the 3rd quarter. Principal Financial Group Inc. now owns 36,685 shares of the company’s stock valued at $470,000 after buying an additional 3,477 shares during the period. Sanctuary Advisors LLC grew its position in shares of UiPath by 236.0% during the third quarter. Sanctuary Advisors LLC now owns 41,098 shares of the company’s stock worth $526,000 after buying an additional 28,865 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of UiPath by 7.2% during the third quarter. Geode Capital Management LLC now owns 7,312,068 shares of the company’s stock worth $93,619,000 after buying an additional 493,502 shares during the period. Finally, M&T Bank Corp increased its stake in shares of UiPath by 60.1% during the third quarter. M&T Bank Corp now owns 31,791 shares of the company’s stock worth $407,000 after buying an additional 11,940 shares during the period. Hedge funds and other 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, 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.