UiPath (NYSE:PATH) Trading Down 6.7% – Here’s Why

UiPath, Inc. (NYSE:PATH) shares dropped 6.7% during trading on Tuesday . The stock traded as low as $13.85 and last traded at $14.1680. Approximately 10,201,602 shares traded hands during trading, a decline of 78% from the average daily volume of 46,214,875 shares. The stock had previously closed at $15.19.

Analyst Ratings Changes

Several brokerages have recently weighed in on PATH. UBS Group set a $16.00 price target on UiPath in a research note on Friday. Bank of America upped their target price on UiPath from $13.00 to $15.00 and gave the company an “underperform” rating in a report on Friday. New Street Research set a $13.00 price target on shares of UiPath in a report on Monday, June 1st. Wall Street Zen downgraded shares of UiPath from a “buy” rating to a “hold” rating in a research report on Saturday, May 30th. Finally, Morgan Stanley reduced their price objective on shares of UiPath from $17.00 to $15.00 and set an “equal weight” rating on the stock in a research note on Friday, May 29th. Three analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $16.33.

UiPath Stock Down 6.6%

The firm has a market cap of $7.35 billion, a price-to-earnings ratio of 21.14, a PEG ratio of 1.82 and a beta of 1.02. The firm has a 50 day moving average of $14.01 and a 200 day moving average of $11.98.

UiPath (NYSE:PATH) last posted its quarterly earnings results on Thursday, September 3rd. The company reported $0.15 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.15. The business had revenue of $410.26 million for the quarter, compared to the consensus estimate of $397.77 million. UiPath had a return on equity of 9.70% and a net margin of 21.03%.The firm’s revenue for the quarter was up 13.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.15 EPS. Equities analysts expect that UiPath, Inc. will post 0.4 EPS for the current year.

Insider Buying and Selling at UiPath

In other news, CEO Daniel Dines sold 1,402,347 shares of the firm’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $16.07, for a total value of $22,535,716.29. Following the transaction, the chief executive officer owned 26,491,238 shares in the company, valued at $425,714,194.66. This trade represents a 5.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 22.44% of the stock is owned by corporate insiders.

Institutional Trading of UiPath

Hedge funds have recently bought and sold shares of the business. HighMark Wealth Management LLC purchased a new position in shares of UiPath in the 4th quarter worth about $25,000. Trifecta Capital Advisors LLC purchased a new position in UiPath in the second quarter valued at approximately $27,000. Atlas Capital Advisors Inc. bought a new position in UiPath during the fourth quarter valued at $37,000. AdvisorNet Financial Inc grew its holdings in UiPath by 750.0% during the first quarter. AdvisorNet Financial Inc now owns 3,400 shares of the company’s stock valued at $38,000 after purchasing an additional 3,000 shares during the period. Finally, REAP Financial Group LLC purchased a new stake in UiPath in the fourth quarter worth $44,000. 62.50% of the stock is currently owned by institutional investors.

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.