UiPath (NYSE:PATH) Stock Price Down 0.9% – Here’s What Happened

UiPath Inc. (NYSE:PATH) traded down 0.9% during trading on Friday . The stock traded as low as $13.17 and last traded at $13.24. 1,272,519 shares traded hands during trading, a decline of 84% from the average session volume of 7,900,511 shares. The stock had previously closed at $13.35.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on PATH shares. Needham & Company LLC reiterated a “hold” rating on shares of UiPath in a research note on Wednesday. JPMorgan Chase & Co. lifted their price objective on UiPath from $17.00 to $18.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Barclays lowered their target price on UiPath from $16.00 to $15.00 and set an “equal weight” rating on the stock in a research note on Friday, January 10th. BMO Capital Markets boosted their price target on UiPath from $15.00 to $16.00 and gave the company a “market perform” rating in a report on Friday, December 6th. Finally, Morgan Stanley raised their price objective on shares of UiPath from $15.00 to $16.00 and gave the stock an “equal weight” rating in a research note on Friday, December 6th. 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 company’s stock. Based on data from MarketBeat.com, UiPath has a consensus rating of “Hold” and a consensus price target of $17.44.

UiPath Price Performance

The stock has a market capitalization of $7.16 billion, a price-to-earnings ratio of -81.40 and a beta of 0.96. The stock has a 50 day moving average price of $13.59 and a 200-day moving average price of $12.79.

Insider Activity

In other UiPath news, CFO Ashim Gupta sold 47,227 shares of the stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $13.06, for a total value of $616,784.62. Following the transaction, the chief financial officer now directly owns 856,538 shares in the company, valued at $11,186,386.28. This represents a 5.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Hitesh Ramani sold 25,000 shares of the 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 completion of the transaction, the chief accounting officer now directly owns 269,421 shares in the company, 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. Company insiders own 22.37% of the company’s stock.

Institutional Investors Weigh In On UiPath

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Future Financial Wealth Managment LLC purchased a new position in shares of UiPath during the third quarter worth about $26,000. JTC Employer Solutions Trustee Ltd purchased a new position in shares of UiPath in the 3rd quarter valued at approximately $26,000. Quarry LP raised its stake in shares of UiPath by 654.4% during the third quarter. Quarry LP now owns 3,146 shares of the company’s stock worth $40,000 after purchasing an additional 2,729 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of UiPath by 124.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 4,098 shares of the company’s stock worth $52,000 after purchasing an additional 2,274 shares during the period. Finally, True Wealth Design LLC grew its position in UiPath by 21,710.0% in the 3rd quarter. True Wealth Design LLC now owns 4,362 shares of the company’s stock valued at $56,000 after buying an additional 4,342 shares during the last quarter. Hedge funds and other institutional investors own 62.50% of the company’s stock.

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.