UiPath (NYSE:PATH) Shares Down 3.4% Following Analyst Downgrade

Shares of UiPath Inc. (NYSE:PATH - Get Free Report) dropped 3.4% during trading on Friday after Barclays lowered their price target on the stock from $16.00 to $15.00. Barclays currently has an equal weight rating on the stock. UiPath traded as low as $12.75 and last traded at $12.98. Approximately 2,948,106 shares traded hands during mid-day trading, a decline of 65% from the average daily volume of 8,466,615 shares. The stock had previously closed at $13.43.

Other equities analysts have also issued reports about the company. JPMorgan Chase & Co. raised their price target on UiPath from $17.00 to $18.00 and gave the stock an "overweight" rating in a report on Friday, December 6th. Needham & Company LLC reaffirmed a "hold" rating on shares of UiPath in a report on Thursday, December 19th. Morgan Stanley increased their price target on shares of UiPath from $15.00 to $16.00 and gave the stock an "equal weight" rating in a report on Friday, December 6th. BMO Capital Markets upped their target price 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. Finally, UBS Group assumed coverage on shares of UiPath in a research report on Thursday, December 12th. They set a "sell" rating and a $14.00 price target for the company. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, UiPath has an average rating of "Hold" and a consensus price target of $17.44.

Insider Transactions at UiPath

In other UiPath news, CFO Ashim Gupta sold 47,227 shares of the company's stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $13.06, for a total transaction of $616,784.62. Following the transaction, the chief financial officer now owns 856,538 shares in the company, valued at approximately $11,186,386.28. This represents a 5.23 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Hitesh Ramani sold 25,000 shares of the stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $13.05, for a total value of $326,250.00. Following the completion of the transaction, the chief accounting officer now directly owns 269,421 shares of the company's stock, valued at $3,515,944.05. This represents a 8.49 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 22.37% of the company's stock.

Institutional Investors Weigh In On UiPath

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PATH. Future Financial Wealth Managment LLC bought a new stake in shares of UiPath in the 3rd quarter worth approximately $26,000. JTC Employer Solutions Trustee Ltd bought a new stake in UiPath in the third quarter worth $26,000. Quarry LP grew its stake in shares of UiPath by 654.4% in the third quarter. Quarry LP now owns 3,146 shares of the company's stock worth $40,000 after acquiring an additional 2,729 shares during the last quarter. Redwood Wealth Management Group LLC bought a new position in shares of UiPath during the second quarter valued at $43,000. Finally, Allspring Global Investments Holdings LLC raised its position in shares of UiPath by 124.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 4,098 shares of the company's stock worth $52,000 after purchasing an additional 2,274 shares during the last quarter. 62.50% of the stock is owned by hedge funds and other institutional investors.

UiPath Stock Down 3.4 %

The stock's fifty day moving average price is $13.56 and its 200 day moving average price is $12.76. The stock has a market cap of $7.13 billion, a PE ratio of -81.06 and a beta of 0.96.

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.