UiPath (NYSE:PATH) Trading Down 1.2% – Here’s Why

UiPath, Inc. (NYSE:PATH) traded down 1.2% on Wednesday . The company traded as low as $13.93 and last traded at $14.1950. 18,100,188 shares traded hands during mid-day trading, a decline of 36% from the average session volume of 28,226,922 shares. The stock had previously closed at $14.37.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Canaccord Genuity Group boosted their price objective on shares of UiPath from $15.00 to $19.00 and gave the company a “buy” rating in a report on Thursday, December 4th. Zacks Research raised UiPath from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 30th. UBS Group reissued a “neutral” rating on shares of UiPath in a report on Thursday, December 4th. Morgan Stanley upped their price target on UiPath from $15.00 to $19.00 and gave the stock an “equal weight” rating in a research report on Tuesday, December 9th. Finally, Wall Street Zen cut UiPath from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 6th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, UiPath currently has an average rating of “Hold” and a consensus price target of $16.00.

UiPath Trading Down 1.2%

The business’s 50 day simple moving average is $15.73 and its 200 day simple moving average is $13.93. The firm has a market capitalization of $7.59 billion, a PE ratio of 33.80, a PEG ratio of 4.21 and a beta of 1.08.

UiPath (NYSE:PATH) last released its quarterly earnings data on Wednesday, December 3rd. The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.14 by $0.02. The company had revenue of $411.11 million for the quarter, compared to the consensus estimate of $392.46 million. UiPath had a return on equity of 3.73% and a net margin of 14.79%.UiPath’s quarterly revenue was up 15.9% on a year-over-year basis. During the same period last year, the business posted $0.11 EPS. Analysts forecast that UiPath, Inc. will post -0.17 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Daniel Dines sold 45,000 shares of the company’s stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $19.21, for a total value of $864,450.00. Following the sale, the chief executive officer owned 29,153,585 shares in the company, valued at $560,040,367.85. This represents a 0.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Ashim Gupta sold 67,468 shares of the firm’s stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $16.10, for a total value of $1,086,234.80. Following the sale, the chief financial officer directly owned 557,028 shares in the company, valued at approximately $8,968,150.80. This trade represents a 10.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 1,130,048 shares of company stock valued at $18,827,894 over the last 90 days. 23.19% of the stock is currently owned by insiders.

Institutional Investors Weigh In On UiPath

Hedge funds have recently bought and sold shares of the stock. D.A. Davidson & CO. grew its position in UiPath by 23.8% during the third quarter. D.A. Davidson & CO. now owns 752,448 shares of the company’s stock worth $10,068,000 after buying an additional 144,832 shares in the last quarter. Inspire Investing LLC bought a new stake in shares of UiPath in the 2nd quarter worth approximately $891,000. AlphaQuest LLC grew its holdings in shares of UiPath by 863.9% during the 2nd quarter. AlphaQuest LLC now owns 42,847 shares of the company’s stock worth $548,000 after purchasing an additional 38,402 shares in the last quarter. Russell Investments Group Ltd. increased its position in shares of UiPath by 7.3% during the second quarter. Russell Investments Group Ltd. now owns 1,445,644 shares of the company’s stock valued at $18,448,000 after purchasing an additional 98,058 shares during the period. Finally, CWM LLC increased its position in shares of UiPath by 96.2% during the second quarter. CWM LLC now owns 312,073 shares of the company’s stock valued at $3,995,000 after purchasing an additional 152,988 shares during the period. Hedge funds and other 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. Its platform's embedded AI, ML, and NLP capabilities improve decisioning and information processing; emulate human behavior allows organizations to address a myriad of use cases; emulate human behavior allows organizations to address a myriad of use cases; multi-tenant platform enterprise deployment with security and governance and Automation Cloud, which enables customers to begin automating without the need to provision infrastructure, install applications, or perform additional configurations; intuitive interface and low-code, drag-and-drop functionality; signed to enable people and automations to work together; and tracks, measures, and forecasts the performance of automations, enables customers to gain powerful insights and generate key performance indicators with actionable metric.