UiPath (NYSE:PATH) Stock Price Down 1.1%

UiPath Inc. (NYSE:PATH)’s stock price dropped 1.1% during mid-day trading on Thursday . The stock traded as low as $20.46 and last traded at $20.51. Approximately 1,305,355 shares traded hands during mid-day trading, a decline of 84% from the average daily volume of 8,142,089 shares. The stock had previously closed at $20.74.

Wall Street Analysts Forecast Growth

PATH has been the subject of several research analyst reports. DA Davidson boosted their price objective on UiPath from $20.00 to $24.00 and gave the stock a “neutral” rating in a research report on Thursday, March 14th. Mizuho raised their price objective on shares of UiPath from $22.00 to $25.00 and gave the stock a “neutral” rating in a research note on Thursday, March 14th. Needham & Company LLC reaffirmed a “buy” rating and set a $30.00 target price on shares of UiPath in a research report on Wednesday, March 20th. Barclays raised their price target on shares of UiPath from $23.00 to $25.00 and gave the stock an “equal weight” rating in a research report on Friday, March 15th. Finally, Scotiabank upped their price objective on shares of UiPath from $29.00 to $30.00 and gave the company a “sector perform” rating in a research report on Thursday, March 14th. Nine research 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 a consensus rating of “Moderate Buy” and a consensus price target of $27.41.

UiPath Trading Up 1.1 %

The firm has a market capitalization of $11.61 billion, a price-to-earnings ratio of -120.09 and a beta of 1.01. The firm has a fifty day moving average price of $21.05 and a 200 day moving average price of $21.95.

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

Insider Transactions at UiPath

In related news, CFO Ashim Gupta sold 40,000 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $19.79, for a total value of $791,600.00. Following the completion of the transaction, the chief financial officer now owns 946,848 shares in the company, valued at approximately $18,738,121.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 96,000 shares of company stock valued at $2,023,440 in the last three months. 22.37% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of PATH. Raymond James & Associates raised its position in shares of UiPath by 51.0% during the 3rd quarter. Raymond James & Associates now owns 89,534 shares of the healthcare company’s stock valued at $1,532,000 after acquiring an additional 30,244 shares during the last quarter. Fifth Third Bancorp raised its position in shares of UiPath by 2,005.3% during the 3rd quarter. Fifth Third Bancorp now owns 2,000 shares of the healthcare company’s stock valued at $34,000 after acquiring an additional 1,905 shares during the last quarter. FDx Advisors Inc. raised its position in shares of UiPath by 3.7% during the 3rd quarter. FDx Advisors Inc. now owns 28,724 shares of the healthcare company’s stock valued at $491,000 after acquiring an additional 1,012 shares during the last quarter. Duality Advisers LP raised its position in shares of UiPath by 2.7% during the 3rd quarter. Duality Advisers LP now owns 146,024 shares of the healthcare company’s stock valued at $2,498,000 after acquiring an additional 3,886 shares during the last quarter. Finally, Principal Financial Group Inc. raised its position in shares of UiPath by 3.9% during the 3rd quarter. Principal Financial Group Inc. now owns 42,529 shares of the healthcare company’s stock valued at $728,000 after acquiring an additional 1,586 shares during the last quarter. 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.