UiPath (NYSE:PATH) Trading Down 0.9%

UiPath Inc. (NYSE:PATH) fell 0.9% during mid-day trading on Tuesday . The stock traded as low as $19.42 and last traded at $19.58. 986,969 shares were traded during trading, a decline of 88% from the average session volume of 8,561,100 shares. The stock had previously closed at $19.76.

Analysts Set New Price Targets

Several analysts have weighed in on the company. JPMorgan Chase & Co. raised UiPath from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $22.00 to $28.00 in a research report on Thursday, March 14th. Canaccord Genuity Group increased their price objective on UiPath from $27.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, March 15th. William Blair began coverage on shares of UiPath in a research note on Tuesday, January 2nd. They issued an “outperform” rating for the company. Barclays upped their price objective on shares of UiPath from $23.00 to $25.00 and gave the stock an “equal weight” rating in a report on Friday, March 15th. Finally, Scotiabank boosted their price target on UiPath from $29.00 to $30.00 and gave the stock a “sector perform” rating in a research report on Thursday, March 14th. Nine analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, UiPath currently has an average rating of “Moderate Buy” and a consensus price target of $27.41.

UiPath Stock Down 4.0 %

The firm’s fifty day simple moving average is $22.08 and its two-hundred day simple moving average is $21.64. The firm has a market cap of $10.79 billion, a PE ratio of -115.17 and a beta of 0.96.

UiPath (NYSE:PATH) last released its quarterly earnings data on Wednesday, March 13th. The healthcare company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analysts’ expectations of $383.32 million. As a group, analysts anticipate that UiPath Inc. will post -0.04 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Ashim Gupta sold 16,000 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $1,998,614.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 72,000 shares of company stock worth $1,591,360 over the last 90 days. Corporate insiders own 31.03% of the company’s stock.

Institutional Trading of UiPath

Several hedge funds and other institutional investors have recently bought and sold shares of PATH. Mark Sheptoff Financial Planning LLC purchased a new position in shares of UiPath during the fourth quarter valued at approximately $25,000. HighMark Wealth Management LLC purchased a new position in UiPath during the 4th quarter valued at $27,000. Cypress Capital Management LLC WY bought a new position in UiPath in the 4th quarter valued at $29,000. GAMMA Investing LLC purchased a new stake in UiPath in the fourth quarter worth $36,000. Finally, FNY Investment Advisers LLC bought a new stake in shares of UiPath during the fourth quarter worth $40,000. Hedge funds and other 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, 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.