UiPath (NYSE:PATH) Trading Down 0.5% - Should You Sell?

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

Wall Street Analysts Forecast Growth

PATH has been the subject of several research reports. Royal Bank of Canada reissued a "sector perform" rating and issued a $16.00 target price on shares of UiPath in a research note on Friday, December 6th. DA Davidson boosted their price objective on UiPath from $13.00 to $15.00 and gave the stock a "neutral" rating in a report on Friday, September 6th. Morgan Stanley raised their target price on shares of UiPath from $15.00 to $16.00 and gave the company an "equal weight" rating in a research note on Friday, December 6th. TD Cowen dropped their price target on shares of UiPath from $17.00 to $16.00 and set a "hold" rating for the company in a research note on Friday, September 6th. Finally, Barclays raised their price objective on shares of UiPath from $15.00 to $16.00 and gave the company an "equal weight" rating in a research note on Friday, December 6th. One 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's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $17.50.

UiPath Price Performance

The stock's 50 day simple moving average is $13.48 and its two-hundred day simple moving average is $12.70. The stock has a market cap of $7.30 billion, a P/E ratio of -83.00 and a beta of 0.96.

Institutional Investors Weigh In On UiPath

Several institutional investors have recently bought and sold shares of the company. Future Financial Wealth Managment LLC acquired a new position in shares of UiPath during the 3rd quarter worth about $26,000. JTC Employer Solutions Trustee Ltd acquired a new stake in UiPath in the 3rd quarter valued at about $26,000. Quarry LP raised its stake in UiPath by 654.4% in the 3rd quarter. Quarry LP now owns 3,146 shares of the company's stock valued at $40,000 after acquiring an additional 2,729 shares during the period. Redwood Wealth Management Group LLC bought a new position in UiPath during the second quarter worth $43,000. Finally, Allspring Global Investments Holdings LLC lifted its position in UiPath by 124.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 4,098 shares of the company's stock worth $52,000 after acquiring an additional 2,274 shares during the last quarter. 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.