UiPath (NYSE:PATH) Shares Gap Down After Analyst Downgrade

Shares of UiPath Inc. (NYSE:PATH - Get Free Report) gapped down prior to trading on Thursday after Morgan Stanley lowered their price target on the stock from $16.00 to $12.00. The stock had previously closed at $11.83, but opened at $9.80. Morgan Stanley currently has an equal weight rating on the stock. UiPath shares last traded at $10.07, with a volume of 9,905,625 shares.

Several other analysts also recently issued reports on PATH. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $16.00 price objective on shares of UiPath in a report on Friday, December 6th. BMO Capital Markets upped their price objective on shares of UiPath from $15.00 to $16.00 and gave the stock a "market perform" rating in a report on Friday, December 6th. Barclays decreased their price objective on shares of UiPath from $16.00 to $15.00 and set an "equal weight" rating for the company in a report on Friday, January 10th. UBS Group initiated coverage on shares of UiPath in a report on Thursday, December 12th. They issued a "sell" rating and a $14.00 price target for the company. Finally, JPMorgan Chase & Co. increased their price target on shares of UiPath from $17.00 to $18.00 and gave the company an "overweight" rating in a report on Friday, December 6th. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, UiPath has a consensus rating of "Hold" and an average target price of $16.78.

Insider Buying and Selling

In other UiPath news, CAO Hitesh Ramani sold 25,000 shares of the firm'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 owns 269,421 shares in the company, valued at approximately $3,515,944.05. This trade represents a 8.49 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Ashim Gupta sold 47,227 shares of the firm's stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $13.06, for a total transaction of $616,784.62. Following the completion of the sale, the chief financial officer now owns 856,538 shares of the company's stock, valued at $11,186,386.28. The trade was a 5.23 % decrease in their position. The disclosure for this sale can be found here. 22.37% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. CIBC Asset Management Inc boosted its stake in shares of UiPath by 5.3% in the 4th quarter. CIBC Asset Management Inc now owns 14,741 shares of the company's stock valued at $187,000 after purchasing an additional 736 shares during the last quarter. V Square Quantitative Management LLC boosted its stake in UiPath by 33.4% during the 4th quarter. V Square Quantitative Management LLC now owns 3,030 shares of the company's stock worth $39,000 after acquiring an additional 759 shares during the last quarter. Tidal Investments LLC boosted its stake in UiPath by 3.7% during the 4th quarter. Tidal Investments LLC now owns 22,487 shares of the company's stock worth $286,000 after acquiring an additional 797 shares during the last quarter. True Wealth Design LLC boosted its stake in UiPath by 18.4% during the 4th quarter. True Wealth Design LLC now owns 5,163 shares of the company's stock worth $66,000 after acquiring an additional 801 shares during the last quarter. Finally, First Horizon Advisors Inc. boosted its stake in UiPath by 47.8% during the 4th quarter. First Horizon Advisors Inc. now owns 2,487 shares of the company's stock worth $32,000 after acquiring an additional 804 shares during the last quarter. Institutional investors own 62.50% of the company's stock.

UiPath Trading Down 13.4 %

The firm's 50 day moving average is $13.47 and its two-hundred day moving average is $13.18. The firm has a market cap of $5.63 billion, a P/E ratio of -63.69 and a beta of 1.00.

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.

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