UiPath (NYSE:PATH) Trading Down 1.1% – Should You Sell?

UiPath Inc. (NYSE:PATH) fell 1.1% during mid-day trading on Thursday . The company traded as low as $13.17 and last traded at $13.22. 2,521,140 shares changed hands during trading, a decline of 68% from the average session volume of 7,951,600 shares. The stock had previously closed at $13.37.

Wall Street Analyst Weigh In

A number of research firms have weighed in on PATH. Needham & Company LLC reaffirmed a “hold” rating on shares of UiPath in a research report on Wednesday. JPMorgan Chase & Co. increased their price target on UiPath from $17.00 to $18.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. BMO Capital Markets lifted their price objective on shares of UiPath from $15.00 to $16.00 and gave the company a “market perform” rating in a research report on Friday, December 6th. UBS Group started coverage on shares of UiPath in a research report on Thursday, December 12th. They set a “sell” rating and a $14.00 price objective for the company. Finally, Wells Fargo & Company lowered their target price 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 investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $17.44.

UiPath Stock Performance

The firm has a market capitalization of $7.37 billion, a PE ratio of -83.91 and a beta of 0.96. The firm’s 50-day moving average is $13.59 and its 200 day moving average is $12.78.

Insider Activity

In other news, CAO Hitesh Ramani sold 25,000 shares of the stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $13.05, for a total transaction of $326,250.00. Following the transaction, the chief accounting officer now directly owns 269,421 shares in the company, valued at $3,515,944.05. This represents a 8.49 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Ashim Gupta sold 47,227 shares of the stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $13.06, for a total transaction of $616,784.62. Following the transaction, the chief financial officer now directly owns 856,538 shares in the company, valued at approximately $11,186,386.28. This represents a 5.23 % decrease in their position. 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

Several hedge funds and other institutional investors have recently made changes to their positions in the business. American Century Companies Inc. lifted its position in shares of UiPath by 9.0% during the second quarter. American Century Companies Inc. now owns 110,910 shares of the company’s stock worth $1,406,000 after purchasing an additional 9,161 shares in the last quarter. DekaBank Deutsche Girozentrale grew its stake in UiPath by 133.0% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 87,459 shares of the company’s stock valued at $1,125,000 after purchasing an additional 49,923 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in UiPath by 37.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,783,571 shares of the company’s stock worth $35,296,000 after purchasing an additional 754,519 shares during the last quarter. Renaissance Technologies LLC bought a new stake in shares of UiPath in the second quarter worth $13,280,000. Finally, Edgestream Partners L.P. boosted its stake in UiPath by 73.2% during the 2nd quarter. Edgestream Partners L.P. now owns 403,098 shares of the company’s stock valued at $5,111,000 after acquiring an additional 170,426 shares during the last quarter. Institutional investors and hedge funds 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.