UiPath (NYSE:PATH) Stock Price Down 1.7% After Analyst Downgrade

UiPath Inc. (NYSE:PATH) shares fell 1.7% during mid-day trading on Monday 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 $12.62 and last traded at $12.75. 1,727,634 shares traded hands during mid-day trading, a decline of 79% from the average session volume of 8,342,426 shares. The stock had previously closed at $12.97.

A number of other research analysts have also recently issued reports on PATH. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $16.00 price target on shares of UiPath 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 research report on Friday, December 6th. Morgan Stanley increased their price target on shares of UiPath from $15.00 to $16.00 and gave the company an “equal weight” rating in a research note on Friday, December 6th. Needham & Company LLC restated a “hold” rating on shares of UiPath in a research report on Thursday, December 19th. Finally, JPMorgan Chase & Co. increased their price objective on UiPath from $17.00 to $18.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, UiPath currently has a consensus rating of “Hold” and an average price target of $17.44.

Insider Activity at UiPath

In other news, CFO Ashim Gupta sold 47,227 shares of the firm’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $13.06, for a total transaction of $616,784.62. Following the sale, the chief financial officer now owns 856,538 shares of the company’s stock, valued at $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 is available through this hyperlink. Also, CAO Hitesh Ramani sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, January 3rd. The shares were 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 owns 269,421 shares of the company’s stock, valued at $3,515,944.05. This represents 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 currently owned by corporate insiders.

Institutional Investors Weigh In On UiPath

A number of hedge funds and other institutional investors have recently made changes to their positions in PATH. Future Financial Wealth Managment LLC bought a new stake in shares of UiPath in the third quarter worth $26,000. JTC Employer Solutions Trustee Ltd bought a new stake in UiPath during the 3rd quarter worth about $26,000. Quarry LP boosted its stake in shares of UiPath by 654.4% during the 3rd quarter. Quarry LP now owns 3,146 shares of the company’s stock worth $40,000 after buying an additional 2,729 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings 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 valued at $52,000 after acquiring an additional 2,274 shares in the last quarter. Finally, True Wealth Design LLC grew its holdings in shares of UiPath by 21,710.0% in the 3rd quarter. True Wealth Design LLC now owns 4,362 shares of the company’s stock valued at $56,000 after acquiring an additional 4,342 shares in the last quarter. 62.50% of the stock is currently owned by institutional investors and hedge funds.

UiPath Price Performance

The firm has a market cap of $7.32 billion, a price-to-earnings ratio of -83.19 and a beta of 0.96. The business has a 50-day moving average of $13.59 and a 200-day moving average of $12.78.

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.