UiPath Inc. (NYSE:PATH - Get Free Report)'s share price was down 2.4% during trading on Monday . The company traded as low as $12.99 and last traded at $13.02. Approximately 6,101,422 shares changed hands during mid-day trading, a decline of 11% from the average daily volume of 6,832,750 shares. The stock had previously closed at $13.35.
Analysts Set New Price Targets
A number of research analysts have recently issued reports on the company. Barclays decreased their target price on UiPath from $16.00 to $15.00 and set an "equal weight" rating on the stock in a research report on Friday, January 10th. JPMorgan Chase & Co. increased their price objective on shares of UiPath from $17.00 to $18.00 and gave the company an "overweight" rating in a report on Friday, December 6th. Wells Fargo & Company cut their price objective on UiPath from $15.00 to $13.00 and set an "equal weight" rating for the company in a research note on Wednesday, October 23rd. Needham & Company LLC reissued a "hold" rating on shares of UiPath in a research note on Wednesday, January 15th. Finally, UBS Group assumed coverage on shares of UiPath in a research note on Thursday, December 12th. They issued a "sell" rating and a $14.00 target price on the stock. 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 has a consensus rating of "Hold" and an average target price of $17.44.
Check Out Our Latest Analysis on PATH
UiPath Trading Down 2.4 %
The stock has a market capitalization of $7.16 billion, a price-to-earnings ratio of -81.40 and a beta of 0.96. The firm's fifty day moving average price is $13.57 and its 200 day moving average price 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 that occurred 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 completion of the transaction, the chief financial officer now owns 856,538 shares of the company's stock, valued at approximately $11,186,386.28. This trade represents a 5.23 % decrease in their ownership of the stock. The transaction 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 company's stock in a transaction that occurred on Friday, January 3rd. The stock was 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 approximately $3,515,944.05. The trade was 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 insiders.
Hedge Funds Weigh In On UiPath
A number of institutional investors and hedge funds have recently made changes to their positions in PATH. Ontario Teachers Pension Plan Board grew its stake in shares of UiPath by 136.0% during the third quarter. Ontario Teachers Pension Plan Board now owns 108,725 shares of the company's stock worth $1,392,000 after purchasing an additional 62,650 shares in the last quarter. D.A. Davidson & CO. boosted its position in shares of UiPath by 60.1% during the 3rd quarter. D.A. Davidson & CO. now owns 557,667 shares of the company's stock worth $7,138,000 after acquiring an additional 209,300 shares in the last quarter. Stifel Financial Corp increased its holdings in shares of UiPath by 30.1% in the 3rd quarter. Stifel Financial Corp now owns 323,818 shares of the company's stock valued at $4,145,000 after acquiring an additional 74,959 shares during the last quarter. Senvest Management LLC raised its position in shares of UiPath by 16.7% during the 3rd quarter. Senvest Management LLC now owns 10,894,483 shares of the company's stock worth $139,449,000 after acquiring an additional 1,559,500 shares in the last quarter. Finally, Quantbot Technologies LP lifted its stake in UiPath by 667.7% during the third quarter. Quantbot Technologies LP now owns 101,718 shares of the company's stock worth $1,302,000 after purchasing an additional 88,468 shares during the last quarter. 62.50% of the stock is owned by institutional investors and hedge funds.
About UiPath
(
Get Free Report)
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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