UiPath (NYSE:PATH) Trading 3.7% Higher

Shares of UiPath Inc. (NYSE:PATH) traded up 3.7% during mid-day trading on Tuesday . The stock traded as high as $19.61 and last traded at $19.58. 1,739,844 shares changed hands during mid-day trading, a decline of 80% from the average session volume of 8,776,809 shares. The stock had previously closed at $18.89.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $29.00 target price on shares of UiPath in a report on Monday, April 1st. William Blair assumed coverage on UiPath in a report on Tuesday, January 2nd. They issued an “outperform” rating for the company. Barclays upped their price objective on UiPath from $23.00 to $25.00 and gave the company an “equal weight” rating in a research note on Friday, March 15th. Canaccord Genuity Group upped their price objective on UiPath from $27.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, March 15th. Finally, Morgan Stanley upped their price objective on UiPath from $17.00 to $25.00 and gave the company an “equal weight” rating in a research note on Thursday, March 14th. Nine analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $27.41.

UiPath Stock Performance

The company has a 50 day moving average of $22.42 and a 200-day moving average of $21.55.

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

Insiders Place Their Bets

In other UiPath news, CFO Ashim Gupta sold 16,000 shares of UiPath stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $22.84, for a total transaction of $365,440.00. Following the completion of 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 filing with the SEC, which is available at the SEC website. Insiders sold a total of 72,000 shares of company stock valued at $1,591,360 over the last 90 days. Insiders own 31.03% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of PATH. Norges Bank purchased a new position in shares of UiPath in the fourth quarter worth about $165,749,000. Vanguard Group Inc. increased its holdings in UiPath by 7.6% during the 3rd quarter. Vanguard Group Inc. now owns 37,750,773 shares of the healthcare company’s stock valued at $645,916,000 after purchasing an additional 2,673,718 shares during the period. Artisan Partners Limited Partnership purchased a new position in UiPath during the 4th quarter valued at about $48,267,000. Glenmede Trust Co. NA increased its holdings in UiPath by 3,273.3% during the 3rd quarter. Glenmede Trust Co. NA now owns 1,564,985 shares of the healthcare company’s stock valued at $26,777,000 after purchasing an additional 1,518,592 shares during the period. Finally, Vestmark Advisory Solutions Inc. purchased a new position in UiPath during the 4th quarter valued at about $15,543,000. Hedge funds and other institutional investors own 62.50% of the company’s stock.

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.