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

Shares of UiPath Inc. (NYSE:PATH) fell 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. 1,727,634 shares changed hands during trading, a decline of 79% from the average session volume of 8,342,426 shares. The stock had previously closed at $12.97.

PATH has been the topic of a number of other reports. Needham & Company LLC restated a “hold” rating on shares of UiPath in a report on Thursday, December 19th. Wells Fargo & Company reduced their target price on shares of UiPath from $15.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 23rd. Morgan Stanley increased their price objective on UiPath from $15.00 to $16.00 and gave the stock an “equal weight” rating in a research note on Friday, December 6th. JPMorgan Chase & Co. lifted their target price on UiPath from $17.00 to $18.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $16.00 price target on shares of UiPath in a research report on Friday, December 6th. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, UiPath currently has an average rating of “Hold” and an average target price of $17.44.

Insider Transactions at UiPath

In other UiPath news, CFO Ashim Gupta sold 47,227 shares of the company’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 transaction of $616,784.62. Following the transaction, the chief financial officer now owns 856,538 shares in the company, valued at approximately $11,186,386.28. This represents a 5.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Hitesh Ramani sold 25,000 shares of the business’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $13.05, for a total transaction of $326,250.00. Following the sale, the chief accounting officer now directly owns 269,421 shares in the company, valued at $3,515,944.05. This trade represents a 8.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 22.37% of the company’s stock.

Institutional Investors Weigh In On UiPath

Institutional investors and hedge funds have recently modified their holdings of the company. Future Financial Wealth Managment LLC acquired a new position in UiPath in the 3rd quarter worth approximately $26,000. JTC Employer Solutions Trustee Ltd acquired a new stake in shares of UiPath in the third quarter worth $26,000. Quarry LP raised its holdings in shares of UiPath by 654.4% during the third quarter. Quarry LP now owns 3,146 shares of the company’s stock worth $40,000 after purchasing an additional 2,729 shares during the last quarter. Redwood Wealth Management Group LLC acquired a new position in UiPath during the second quarter valued at $43,000. Finally, Allspring Global Investments Holdings LLC grew its position in UiPath by 124.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 4,098 shares of the company’s stock worth $52,000 after purchasing an additional 2,274 shares during the period. Institutional investors and hedge funds own 62.50% of the company’s stock.

UiPath Stock Performance

The firm has a market cap of $7.06 billion, a PE ratio of -80.31 and a beta of 0.96. The stock has a 50 day simple moving average of $13.57 and a two-hundred day simple moving average of $12.77.

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.