UiPath (NYSE:PATH) Trading Down 1.7%

UiPath Inc. (NYSE:PATH)’s share price traded down 1.7% during trading on Monday . The company traded as low as $11.27 and last traded at $11.34. 3,370,854 shares changed hands during trading, a decline of 65% from the average session volume of 9,727,224 shares. The stock had previously closed at $11.54.

Analyst Upgrades and Downgrades

Several research firms have weighed in on PATH. BMO Capital Markets cut their price target on UiPath from $28.00 to $14.00 and set a “market perform” rating for the company in a report on Monday, June 3rd. Mizuho reduced their price target on shares of UiPath from $25.00 to $14.00 and set a “neutral” rating on the stock in a research report on Thursday, May 30th. Macquarie downgraded shares of UiPath from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $29.00 to $12.00 in a research note on Monday, June 3rd. DA Davidson dropped their price objective on shares of UiPath from $24.00 to $13.00 and set a “neutral” rating for the company in a research note on Thursday, May 30th. Finally, Morgan Stanley decreased their target price on shares of UiPath from $25.00 to $15.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 30th. Sixteen equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $18.12.

UiPath Stock Down 0.8 %

The stock has a market capitalization of $6.56 billion, a PE ratio of -71.19 and a beta of 0.86. The stock’s 50 day moving average price is $17.85 and its 200-day moving average price is $21.60.

Insiders Place Their Bets

In related news, CFO Ashim Gupta sold 40,000 shares of the stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $19.79, for a total value of $791,600.00. Following the transaction, the chief financial officer now owns 946,848 shares of the company’s stock, valued at $18,738,121.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 22.37% of the company’s stock.

Institutional Trading of UiPath

A number of hedge funds have recently added to or reduced their stakes in PATH. Vanguard Group Inc. boosted its position in UiPath by 5.6% during the 1st quarter. Vanguard Group Inc. now owns 40,217,936 shares of the healthcare company’s stock valued at $911,741,000 after acquiring an additional 2,133,078 shares in the last quarter. FMR LLC boosted its position in UiPath by 2.9% during the third quarter. FMR LLC now owns 16,238,176 shares of the healthcare company’s stock valued at $277,835,000 after purchasing an additional 463,032 shares in the last quarter. Norges Bank purchased a new position in UiPath in the fourth quarter valued at about $165,749,000. Senvest Management LLC grew its stake in UiPath by 3.0% in the third quarter. Senvest Management LLC now owns 6,209,655 shares of the healthcare company’s stock valued at $106,247,000 after purchasing an additional 181,722 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in UiPath by 2.3% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,301,413 shares of the healthcare company’s stock worth $131,687,000 after purchasing an additional 119,782 shares in the last quarter. 62.50% of the stock is owned by hedge funds and other 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.