UiPath (NYSE:PATH) Stock Price Down 3.7%

UiPath Inc. (NYSE:PATH)’s stock price dropped 3.7% on Thursday . The company traded as low as $18.92 and last traded at $18.98. Approximately 1,284,667 shares were traded during mid-day trading, a decline of 85% from the average daily volume of 8,701,514 shares. The stock had previously closed at $19.70.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on PATH. Truist Financial reiterated a “buy” rating and set a $32.00 price objective on shares of UiPath in a report on Wednesday, March 20th. Needham & Company LLC reaffirmed a “buy” rating and issued a $30.00 price objective on shares of UiPath in a report on Wednesday, March 20th. Evercore ISI lifted their price target on shares of UiPath from $24.00 to $27.00 and gave the company an “in-line” rating in a research report on Thursday, March 14th. JPMorgan Chase & Co. raised shares of UiPath from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $22.00 to $28.00 in a research report on Thursday, March 14th. Finally, Canaccord Genuity Group lifted their price target on UiPath from $27.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, March 15th. Nine research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $27.41.

UiPath Stock Down 1.4 %

The stock has a 50-day moving average of $22.42 and a 200 day moving average of $21.55. The company has a market capitalization of $11.05 billion, a PE ratio of -111.64 and a beta of 0.96.

UiPath (NYSE:PATH) last posted its quarterly earnings data on Wednesday, March 13th. The healthcare company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.10. The business had revenue of $405.25 million during the quarter, compared to the consensus estimate of $383.32 million. UiPath had a negative net margin of 6.87% and a negative return on equity of 3.29%. Equities analysts forecast that UiPath Inc. will post -0.04 EPS for the current fiscal year.

Insider Activity at UiPath

In related news, CFO Ashim Gupta sold 16,000 shares of the business’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $22.84, for a total transaction of $365,440.00. Following the sale, the chief financial officer now directly owns 87,505 shares in the company, valued at approximately $1,998,614.20. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In the last ninety days, insiders have sold 72,000 shares of company stock worth $1,591,360. 31.03% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On UiPath

Hedge funds have recently made changes to their positions in the business. Royal London Asset Management Ltd. grew its position in UiPath by 5.9% during the 3rd quarter. Royal London Asset Management Ltd. now owns 139,544 shares of the healthcare company’s stock worth $2,388,000 after acquiring an additional 7,742 shares during the last quarter. O Shaughnessy Asset Management LLC purchased a new stake in shares of UiPath during the third quarter worth about $203,000. Invesco Ltd. grew its stake in shares of UiPath by 2.8% in the third quarter. Invesco Ltd. now owns 399,181 shares of the healthcare company’s stock worth $6,830,000 after purchasing an additional 10,863 shares during the last quarter. Symmetry Partners LLC bought a new stake in shares of UiPath in the fourth quarter worth about $205,000. Finally, Toroso Investments LLC increased its holdings in UiPath by 196.7% during the 3rd quarter. Toroso Investments LLC now owns 78,189 shares of the healthcare company’s stock valued at $1,338,000 after purchasing an additional 51,834 shares during the period. 62.50% of the stock is currently owned by institutional investors.

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.