UiPath (NYSE:PATH) Stock Price Down 3.4% After Analyst Downgrade

Shares of UiPath Inc. (NYSE:PATH) dropped 3.4% on Friday after Barclays lowered their price target on the stock from $16.00 to $15.00. Barclays currently has an equal weight rating on the stock. UiPath traded as low as $12.75 and last traded at $12.98. Approximately 2,948,106 shares traded hands during mid-day trading, a decline of 65% from the average daily volume of 8,466,615 shares. The stock had previously closed at $13.43.

PATH has been the topic of several other reports. Wells Fargo & Company dropped their price objective on shares of UiPath from $15.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 23rd. BMO Capital Markets increased their price target on shares of UiPath from $15.00 to $16.00 and gave the company a “market perform” rating in a report on Friday, December 6th. JPMorgan Chase & Co. upped their target price on UiPath from $17.00 to $18.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. Needham & Company LLC reissued a “hold” rating on shares of UiPath in a report on Thursday, December 19th. Finally, UBS Group initiated coverage on UiPath in a report on Thursday, December 12th. They issued a “sell” rating and a $14.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $17.44.

Insider Buying and Selling at UiPath

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

Hedge Funds Weigh In On UiPath

Hedge funds have recently modified their holdings of the business. Pacer Advisors Inc. bought a new position in UiPath during the 2nd quarter worth $69,180,000. Jacobs Levy Equity Management Inc. raised its position in shares of UiPath by 554.8% during the third quarter. Jacobs Levy Equity Management Inc. now owns 4,026,502 shares of the company’s stock worth $51,539,000 after acquiring an additional 3,411,562 shares during the last quarter. Senvest Management LLC raised its position in shares of UiPath by 16.7% during the third quarter. Senvest Management LLC now owns 10,894,483 shares of the company’s stock worth $139,449,000 after acquiring an additional 1,559,500 shares during the last quarter. Worldquant Millennium Advisors LLC acquired a new position in shares of UiPath in the third quarter worth approximately $19,071,000. Finally, Renaissance Technologies LLC bought a new stake in UiPath in the second quarter valued at approximately $13,280,000. Institutional investors and hedge funds own 62.50% of the company’s stock.

UiPath Trading Down 2.9 %

The firm has a market cap of $7.17 billion, a price-to-earnings ratio of -81.50 and a beta of 0.96. The business’s 50-day simple moving average is $13.55 and its two-hundred day simple moving average is $12.76.

UiPath Company Profile

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.