UiPath (NYSE:PATH) Trading Down 2.4% - Time to Sell?

UiPath Inc. (NYSE:PATH - Get Free Report)'s share price dropped 2.4% during mid-day trading on Monday . The stock traded as low as $12.99 and last traded at $13.02. Approximately 6,101,422 shares traded hands during trading, a decline of 11% from the average daily volume of 6,832,750 shares. The stock had previously closed at $13.35.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on PATH shares. Barclays dropped their price target on UiPath from $16.00 to $15.00 and set an "equal weight" rating for the company in a research report on Friday, January 10th. JPMorgan Chase & Co. lifted their price target on UiPath from $17.00 to $18.00 and gave the company an "overweight" rating in a research report on Friday, December 6th. Wells Fargo & Company decreased their price objective on UiPath from $15.00 to $13.00 and set an "equal weight" rating on the stock in a report on Wednesday, October 23rd. Royal Bank of Canada reissued a "sector perform" rating and set a $16.00 price objective on shares of UiPath in a report on Friday, December 6th. Finally, BMO Capital Markets lifted their price target on UiPath from $15.00 to $16.00 and gave the stock a "market perform" rating in a research note on Friday, December 6th. One investment 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. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $17.44.

UiPath Stock Performance

The stock has a market cap of $7.40 billion, a PE ratio of -84.28 and a beta of 0.96. The stock's 50-day moving average is $13.57 and its two-hundred day moving average is $12.79.

Insiders Place Their Bets

In other news, CFO Ashim Gupta sold 47,227 shares of the firm's stock in a transaction 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 sale, the chief financial officer now directly owns 856,538 shares in the company, valued at approximately $11,186,386.28. This trade represents a 5.23 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Hitesh Ramani sold 25,000 shares of the company's stock in a transaction dated Friday, January 3rd. The shares were 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 directly owns 269,421 shares of the company's stock, valued at approximately $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. 22.37% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Jacobs Levy Equity Management Inc. grew its stake in shares of UiPath by 554.8% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 4,026,502 shares of the company's stock worth $51,539,000 after purchasing an additional 3,411,562 shares during the period. Senvest Management LLC increased its holdings in UiPath by 16.7% in the third quarter. Senvest Management LLC now owns 10,894,483 shares of the company's stock valued at $139,449,000 after buying an additional 1,559,500 shares in the last quarter. Worldquant Millennium Advisors LLC purchased a new position in UiPath in the third quarter valued at about $19,071,000. AQR Capital Management LLC lifted its position in shares of UiPath by 120.6% during the 2nd quarter. AQR Capital Management LLC now owns 1,633,393 shares of the company's stock valued at $20,385,000 after acquiring an additional 892,845 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in shares of UiPath by 37.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,783,571 shares of the company's stock worth $35,296,000 after acquiring an additional 754,519 shares during the period. 62.50% of the stock is currently owned by hedge funds and other institutional investors.

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.