UiPath (NYSE:PATH) Shares Up 0.8%

UiPath Inc. (NYSE:PATH) shot up 0.8% on Friday . The company traded as high as $12.52 and last traded at $12.30. 1,582,119 shares changed hands during mid-day trading, a decline of 84% from the average session volume of 9,839,475 shares. The stock had previously closed at $12.20.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on PATH. Scotiabank reduced their price target on UiPath from $30.00 to $25.00 and set a “sector perform” rating for the company in a report on Wednesday, May 29th. Barclays reduced their price target on UiPath from $25.00 to $16.00 and set an “equal weight” rating for the company in a report on Thursday, May 30th. Wells Fargo & Company reduced their price target on UiPath from $15.00 to $14.00 and set an “equal weight” rating for the company in a report on Friday, June 21st. Needham & Company LLC reaffirmed a “hold” rating on shares of UiPath in a report on Thursday, May 30th. Finally, Mizuho reduced their price target on UiPath from $25.00 to $14.00 and set a “neutral” rating for the company in a report on Thursday, May 30th. Sixteen investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, UiPath presently has an average rating of “Hold” and an average target price of $18.06.

UiPath Stock Up 1.2 %

The business has a 50-day moving average price of $13.46 and a 200-day moving average price of $19.18. The firm has a market capitalization of $7.07 billion, a PE ratio of -76.88 and a beta of 0.86.

UiPath (NYSE:PATH) last posted its quarterly earnings results on Wednesday, May 29th. The healthcare company reported ($0.03) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.03). The business had revenue of $335.11 million during the quarter, compared to analyst estimates of $332.84 million. UiPath had a negative return on equity of 2.97% and a negative net margin of 6.41%. On average, equities research analysts anticipate that UiPath Inc. will post -0.22 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Ashim Gupta sold 40,000 shares of the stock in a transaction 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 sale, the chief financial officer now directly owns 946,848 shares in the company, valued at $18,738,121.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 22.37% of the stock is owned by insiders.

Institutional Trading of UiPath

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in shares of UiPath by 5.6% during the first quarter. Vanguard Group Inc. now owns 40,217,936 shares of the healthcare company’s stock worth $911,741,000 after purchasing an additional 2,133,078 shares during the last quarter. Norges Bank purchased a new position in shares of UiPath during the fourth quarter worth about $165,749,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of UiPath by 2.3% during 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 during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of UiPath by 4.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,553,264 shares of the healthcare company’s stock worth $63,423,000 after purchasing an additional 108,013 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of UiPath by 20.8% during the second quarter. Bank of New York Mellon Corp now owns 2,552,921 shares of the healthcare company’s stock worth $32,371,000 after purchasing an additional 439,344 shares during the last quarter. 62.50% of the stock is currently owned by institutional investors and hedge funds.

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.