UiPath (NYSE:PATH) Shares Down 2.6% - Time to Sell?

UiPath Inc. (NYSE:PATH - Get Free Report)'s stock price dropped 2.6% during trading on Monday . The stock traded as low as $12.48 and last traded at $12.54. Approximately 2,106,023 shares changed hands during mid-day trading, a decline of 78% from the average daily volume of 9,588,192 shares. The stock had previously closed at $12.88.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on PATH. JPMorgan Chase & Co. increased their price target on shares of UiPath from $17.00 to $18.00 and gave the stock an "overweight" rating in a research note on Friday, December 6th. Morgan Stanley upped their price target on shares of UiPath from $15.00 to $16.00 and gave the stock an "equal weight" rating in a research note on Friday, December 6th. TD Cowen dropped their target price on shares of UiPath from $17.00 to $16.00 and set a "hold" rating on the stock in a research note on Friday, September 6th. Evercore ISI upped their price objective on UiPath from $13.00 to $16.00 and gave the company an "in-line" rating in a research report on Friday, September 6th. Finally, Wells Fargo & Company decreased their price target 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. One 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 MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $17.50.

UiPath Trading Down 1.1 %

The firm has a 50 day moving average price of $13.44 and a 200 day moving average price of $12.67. The stock has a market capitalization of $7.00 billion, a PE ratio of -79.63 and a beta of 0.94.

Institutional Trading of UiPath

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