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

UiPath Inc. (NYSE:PATH) dropped 3.4% during mid-day 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 changed 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.

Several other research firms also recently issued reports on PATH. Needham & Company LLC reaffirmed a “hold” rating on shares of UiPath in a research note on Thursday, December 19th. BMO Capital Markets raised their target price on UiPath from $15.00 to $16.00 and gave the stock a “market perform” rating in a research report on Friday, December 6th. Wells Fargo & Company reduced their price target on UiPath from $15.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. raised their price objective on UiPath from $17.00 to $18.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. Finally, Morgan Stanley upped their target price on UiPath from $15.00 to $16.00 and gave the company an “equal weight” rating in a report on Friday, December 6th. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, UiPath presently has a consensus rating of “Hold” and an average price target of $17.44.

Insider Buying and Selling at UiPath

In other 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Hitesh Ramani sold 25,000 shares of UiPath stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $13.05, for a total transaction of $326,250.00. Following the completion of the sale, the chief accounting officer now directly owns 269,421 shares of the company’s stock, valued at approximately $3,515,944.05. The trade was a 8.49 % decrease in their position. The disclosure for this sale can be found here. Insiders own 22.37% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Ontario Teachers Pension Plan Board boosted its position 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 valued at $1,392,000 after buying an additional 62,650 shares during the last quarter. D.A. Davidson & CO. boosted its holdings in 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 during the last quarter. Stifel Financial Corp grew its stake in shares of UiPath by 30.1% in the 3rd quarter. Stifel Financial Corp now owns 323,818 shares of the company’s stock worth $4,145,000 after acquiring an additional 74,959 shares in the last quarter. Senvest Management LLC raised its holdings in shares of 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 purchasing an additional 1,559,500 shares during the last quarter. Finally, Quantbot Technologies LP raised its holdings in shares of UiPath by 667.7% in the third quarter. Quantbot Technologies LP now owns 101,718 shares of the company’s stock valued at $1,302,000 after purchasing an additional 88,468 shares during the last quarter. 62.50% of the stock is owned by institutional investors.

UiPath Stock Down 3.4 %

The business’s 50-day moving average is $13.56 and its two-hundred day moving average is $12.76. The company has a market capitalization of $7.13 billion, a P/E ratio of -81.06 and a beta of 0.96.

UiPath Company Profile

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.