UiPath (NYSE:PATH) Trading Down 0.9% - Here's Why

UiPath Inc. (NYSE:PATH - Get Free Report) was down 0.9% during mid-day trading on Friday . The company traded as low as $13.17 and last traded at $13.24. Approximately 1,272,519 shares were traded during trading, a decline of 84% from the average daily volume of 7,900,511 shares. The stock had previously closed at $13.35.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. upped their target price on shares of UiPath from $17.00 to $18.00 and gave the stock 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 report on Wednesday, October 23rd. Morgan Stanley lifted their price target on UiPath from $15.00 to $16.00 and gave the company an "equal weight" rating in a report on Friday, December 6th. Barclays lowered their price objective on shares of UiPath from $16.00 to $15.00 and set an "equal weight" rating for the company in a research report on Friday, January 10th. Finally, UBS Group assumed 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. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, UiPath currently has an average rating of "Hold" and an average target price of $17.44.

UiPath Stock Down 2.1 %

The company has a market capitalization of $7.18 billion, a P/E ratio of -81.72 and a beta of 0.96. The business has a fifty day moving average price of $13.59 and a 200 day moving average price of $12.79.

Insider Transactions at UiPath

In other UiPath news, CAO Hitesh Ramani sold 25,000 shares of the business'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 transaction, the chief accounting officer now owns 269,421 shares of the company's stock, valued at $3,515,944.05. The trade was a 8.49 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 completion of the transaction, the chief financial officer now directly owns 856,538 shares of the company's stock, valued at $11,186,386.28. This represents a 5.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 22.37% of the stock is currently owned by insiders.

Institutional Investors Weigh In On UiPath

Hedge funds have recently bought and sold shares of the company. Senvest Management LLC raised its stake in UiPath by 16.7% in the third quarter. Senvest Management LLC now owns 10,894,483 shares of the company's stock valued at $139,449,000 after buying an additional 1,559,500 shares during the period. Geode Capital Management LLC raised its stake in UiPath by 7.2% in the 3rd quarter. Geode Capital Management LLC now owns 7,312,068 shares of the company's stock valued at $93,619,000 after acquiring an additional 493,502 shares during the period. Pacer Advisors Inc. acquired a new stake in UiPath during the 2nd quarter valued at $69,180,000. Jacobs Levy Equity Management Inc. boosted its position in UiPath by 554.8% during the third quarter. Jacobs Levy Equity Management Inc. now owns 4,026,502 shares of the company's stock worth $51,539,000 after purchasing an additional 3,411,562 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of UiPath by 11.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,890,360 shares of the company's stock valued at $36,997,000 after purchasing an additional 291,171 shares during the last quarter. 62.50% of the stock is currently owned by institutional investors and hedge funds.

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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