UiPath (NYSE:PATH) Shares Down 0.4%

UiPath Inc. (NYSE:PATH) was down 0.4% during mid-day trading on Friday . The stock traded as low as $18.79 and last traded at $18.97. Approximately 1,170,693 shares traded hands during mid-day trading, a decline of 87% from the average daily volume of 8,853,152 shares. The stock had previously closed at $19.04.

Analysts Set New Price Targets

Several analysts have issued reports on PATH shares. Morgan Stanley raised their price target on shares of UiPath from $17.00 to $25.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 14th. Mizuho lifted their price target on shares of UiPath from $22.00 to $25.00 and gave the company a “neutral” rating in a report on Thursday, March 14th. BMO Capital Markets lifted their price target on shares of UiPath from $24.00 to $28.00 and gave the company a “market perform” rating in a report on Thursday, March 14th. DA Davidson raised their price objective on shares of UiPath from $20.00 to $24.00 and gave the company a “neutral” rating in a research report on Thursday, March 14th. Finally, William Blair assumed coverage on shares of UiPath in a research report on Tuesday, January 2nd. They set an “outperform” rating for the company. Nine analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, UiPath has a consensus rating of “Moderate Buy” and a consensus target price of $27.41.

UiPath Price Performance

The stock’s 50 day simple moving average is $22.97 and its two-hundred day simple moving average is $21.44. The stock has a market cap of $10.65 billion, a P/E ratio of -111.58 and a beta of 0.96.

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

Insider Transactions at UiPath

In other news, CFO Ashim Gupta sold 16,000 shares of the business’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $22.84, for a total value of $365,440.00. Following the sale, the chief financial officer now owns 87,505 shares of the company’s stock, valued at $1,998,614.20. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders have sold a total of 72,000 shares of company stock valued at $1,591,360 over the last 90 days. 31.03% of the stock is owned by corporate insiders.

Institutional Trading of UiPath

Institutional investors have recently made changes to their positions in the business. Raymond James Financial Services Advisors Inc. raised its position in UiPath by 3.8% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 40,993 shares of the healthcare company’s stock worth $885,000 after acquiring an additional 1,506 shares in the last quarter. MetLife Investment Management LLC bought a new stake in UiPath during the first quarter worth $184,000. BlackRock Inc. raised its position in UiPath by 1.9% during the first quarter. BlackRock Inc. now owns 5,316,635 shares of the healthcare company’s stock worth $114,786,000 after acquiring an additional 99,242 shares in the last quarter. Dimensional Fund Advisors LP acquired a new position in shares of UiPath in the first quarter valued at $534,000. Finally, Canada Pension Plan Investment Board acquired a new position in shares of UiPath in the first quarter valued at $259,000. 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, and Japan. The company offers a suite of interrelated software to build, manage, run, engage, measure, and govern automation within the organization.