UiPath (NYSE:PATH) Stock Price Down 0.1% – What’s Next?

UiPath Inc. (NYSE:PATH) shares traded down 0.1% during mid-day trading on Wednesday . The company traded as low as $12.92 and last traded at $13.19. 2,691,865 shares traded hands during trading, a decline of 68% from the average session volume of 8,342,358 shares. The stock had previously closed at $13.20.

Wall Street Analyst Weigh In

A number of research firms have weighed in on PATH. Barclays lifted their target price on UiPath from $15.00 to $16.00 and gave the company an “equal weight” rating in a report on Friday, December 6th. JPMorgan Chase & Co. boosted their price objective on shares of UiPath from $17.00 to $18.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. BMO Capital Markets increased their target price on shares of UiPath from $15.00 to $16.00 and gave the stock a “market perform” rating in a research note on Friday, December 6th. UBS Group assumed coverage on shares of UiPath in a report on Thursday, December 12th. They issued a “sell” rating and a $14.00 price target for the company. Finally, Wells Fargo & Company decreased their price target on shares of UiPath from $15.00 to $13.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $17.50.

UiPath Trading Up 2.0 %

The firm has a fifty day moving average of $13.51 and a two-hundred day moving average of $12.75. The company has a market capitalization of $7.40 billion, a PE ratio of -84.19 and a beta of 0.96.

Insider Buying and Selling

In related news, CFO Ashim Gupta sold 47,227 shares of the business’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $13.06, for a total transaction of $616,784.62. Following the transaction, the chief financial officer now owns 856,538 shares in the company, valued at $11,186,386.28. The trade was a 5.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Hitesh Ramani sold 25,000 shares of the firm’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $13.05, for a total transaction of $326,250.00. Following the completion of the sale, the chief accounting officer now owns 269,421 shares of the company’s stock, valued at $3,515,944.05. This trade represents a 8.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 22.37% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in PATH. Commonwealth Equity Services LLC raised its holdings in UiPath by 5.6% in the second quarter. Commonwealth Equity Services LLC now owns 107,468 shares of the company’s stock worth $1,363,000 after purchasing an additional 5,742 shares in the last quarter. CIBC Asset Management Inc grew its holdings in UiPath by 30.6% in the second quarter. CIBC Asset Management Inc now owns 13,564 shares of the company’s stock worth $172,000 after purchasing an additional 3,177 shares during the period. Rhumbline Advisers grew its holdings in UiPath by 2.6% in the second quarter. Rhumbline Advisers now owns 511,011 shares of the company’s stock worth $6,480,000 after purchasing an additional 12,836 shares during the period. TD Asset Management Inc increased its stake in shares of UiPath by 11.8% during the second quarter. TD Asset Management Inc now owns 32,200 shares of the company’s stock valued at $408,000 after purchasing an additional 3,400 shares in the last quarter. Finally, Arizona State Retirement System lifted its holdings in shares of UiPath by 13.0% during the second quarter. Arizona State Retirement System now owns 120,291 shares of the company’s stock valued at $1,525,000 after purchasing an additional 13,875 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.