UiPath (NYSE:PATH) Stock Price Down 3.7% - Time to Sell?

UiPath Inc. (NYSE:PATH - Get Free Report) traded down 3.7% during mid-day trading on Wednesday . The stock traded as low as $14.48 and last traded at $14.63. 1,710,035 shares changed hands during mid-day trading, a decline of 80% from the average session volume of 8,360,739 shares. The stock had previously closed at $15.19.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on PATH shares. Morgan Stanley raised their price target on shares of UiPath from $15.00 to $16.00 and gave the company an "equal weight" rating in a research report on Friday, December 6th. JPMorgan Chase & Co. lifted their target price on UiPath from $17.00 to $18.00 and gave the stock an "overweight" rating in a report on Friday, December 6th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $16.00 price target on shares of UiPath in a report on Friday, December 6th. Wells Fargo & Company reduced their price objective on UiPath from $15.00 to $13.00 and set an "equal weight" rating for the company in a report on Wednesday, October 23rd. Finally, Barclays lowered their target price on shares of UiPath from $16.00 to $15.00 and set an "equal weight" rating on the stock in a research note on Friday, January 10th. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $17.44.

UiPath Trading Up 1.7 %

The company has a market cap of $7.94 billion, a PE ratio of -90.30 and a beta of 0.98. The business's 50 day moving average is $13.74 and its two-hundred day moving average is $12.90.

Insider Activity

In other news, 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 value of $326,250.00. Following the transaction, the chief accounting officer now owns 269,421 shares of the company's stock, valued at approximately $3,515,944.05. The trade was a 8.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 transaction of $616,784.62. Following the transaction, the chief financial officer now directly owns 856,538 shares of the company's stock, valued at $11,186,386.28. The trade was a 5.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 22.37% of the company's stock.

Hedge Funds Weigh In On UiPath

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Jacobs Levy Equity Management Inc. increased its stake in UiPath by 554.8% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 4,026,502 shares of the company's stock worth $51,539,000 after acquiring an additional 3,411,562 shares during the last quarter. Senvest Management LLC increased its position in UiPath by 16.7% in the third quarter. Senvest Management LLC now owns 10,894,483 shares of the company's stock worth $139,449,000 after purchasing an additional 1,559,500 shares during the last quarter. Worldquant Millennium Advisors LLC purchased a new stake in UiPath during the third quarter valued at $19,071,000. Assenagon Asset Management S.A. raised its stake in UiPath by 314.6% during the third quarter. Assenagon Asset Management S.A. now owns 679,651 shares of the company's stock valued at $8,700,000 after purchasing an additional 515,728 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of UiPath by 7.2% in the 3rd 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 in the last quarter. 62.50% of the stock is owned by institutional investors.

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.