UiPath (NYSE:PATH) Shares Down 1.5%

UiPath Inc. (NYSE:PATHGet Free Report) shares fell 1.5% on Wednesday . The company traded as low as $11.23 and last traded at $11.26. 9,808,896 shares changed hands during mid-day trading, a decline of 44% from the average session volume of 17,463,490 shares. The stock had previously closed at $11.43.

Analyst Ratings Changes

A number of brokerages have weighed in on PATH. Truist Financial reiterated a “hold” rating and issued a $14.00 price target (down previously from $32.00) on shares of UiPath in a report on Thursday, May 30th. William Blair lowered shares of UiPath from an “outperform” rating to a “market perform” rating in a report on Thursday, May 30th. Macquarie downgraded shares of UiPath from an “outperform” rating to a “neutral” rating and cut their target price for the company from $29.00 to $12.00 in a research note on Monday, June 3rd. Scotiabank cut their target price on shares of UiPath from $30.00 to $25.00 and set a “sector perform” rating on the stock in a research note on Wednesday, May 29th. Finally, TD Cowen reissued a “hold” rating and issued a $17.00 target price (down previously from $28.00) on shares of UiPath in a research note on Thursday, May 30th. Sixteen investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, UiPath currently has an average rating of “Hold” and a consensus price target of $18.12.

View Our Latest Research Report on UiPath

UiPath Trading Down 1.5 %

The stock has a market cap of $6.45 billion, a PE ratio of -70.38 and a beta of 0.85. The company’s 50 day moving average is $17.44 and its 200-day moving average is $21.45.

Insider Buying and Selling

In other news, CFO Ashim Gupta sold 40,000 shares of the business’s stock in a transaction dated 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 sale, the chief financial officer now owns 946,848 shares of the company’s stock, valued at approximately $18,738,121.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 22.37% of the stock is currently owned by insiders.

Institutional Investors Weigh In On UiPath

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of UiPath by 5.6% in the 1st 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. FMR LLC increased its position in shares of UiPath by 2.9% in the 3rd quarter. FMR LLC now owns 16,238,176 shares of the healthcare company’s stock worth $277,835,000 after purchasing an additional 463,032 shares during the last quarter. Norges Bank bought a new stake in shares of UiPath in the 4th quarter worth about $165,749,000. Senvest Management LLC boosted its holdings in shares of UiPath by 3.0% in the 3rd quarter. Senvest Management LLC now owns 6,209,655 shares of the healthcare company’s stock valued at $106,247,000 after buying an additional 181,722 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of UiPath by 2.3% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,301,413 shares of the healthcare company’s stock valued at $131,687,000 after buying an additional 119,782 shares during the period. Institutional investors own 62.50% of the company’s stock.

UiPath Company Profile

(Get Free Report)

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.

Further Reading

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