UiPath (NYSE:PATH) Shares Down 0.9%

UiPath Inc. (NYSE:PATH) dropped 0.9% during mid-day trading on Tuesday . The company traded as low as $19.42 and last traded at $19.58. Approximately 986,969 shares changed hands during mid-day trading, a decline of 88% from the average daily volume of 8,561,100 shares. The stock had previously closed at $19.76.

Wall Street Analysts Forecast Growth

PATH has been the topic of a number of research reports. Bank of America boosted their target price on shares of UiPath from $26.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, March 14th. BMO Capital Markets increased their price objective on UiPath from $24.00 to $28.00 and gave the company a “market perform” rating in a report on Thursday, March 14th. JPMorgan Chase & Co. raised UiPath from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $22.00 to $28.00 in a report on Thursday, March 14th. Needham & Company LLC reiterated a “buy” rating and issued a $30.00 price target on shares of UiPath in a research report on Wednesday, March 20th. Finally, KeyCorp initiated coverage on UiPath in a research report on Monday, April 8th. They set an “overweight” rating and a $27.00 price objective for the company. Nine research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, UiPath has an average rating of “Moderate Buy” and an average target price of $27.41.

UiPath Stock Up 0.2 %

The firm has a market capitalization of $10.97 billion, a P/E ratio of -112.88 and a beta of 1.01. The company’s 50 day moving average is $21.91 and its 200-day moving average is $21.65.

UiPath (NYSE:PATH) last released its quarterly earnings data on Wednesday, March 13th. The healthcare company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.10. UiPath had a negative net margin of 6.87% and a negative return on equity of 3.29%. The company had revenue of $405.25 million for the quarter, compared to analysts’ expectations of $383.32 million. On average, analysts predict that UiPath Inc. will post -0.04 EPS for the current fiscal year.

Insider Buying and Selling at UiPath

In related news, CFO Ashim Gupta sold 16,000 shares of UiPath stock in a transaction on Friday, March 15th. The shares were sold at an average price of $22.84, for a total value of $365,440.00. Following the completion of the sale, the chief financial officer now owns 87,505 shares of the company’s stock, valued at approximately $1,998,614.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Over the last quarter, insiders sold 72,000 shares of company stock valued at $1,591,360. Company insiders own 31.03% of the company’s stock.

Institutional Trading of UiPath

Several institutional investors and hedge funds have recently modified their holdings of PATH. Intech Investment Management LLC raised its holdings in shares of UiPath by 3.1% in the fourth quarter. Intech Investment Management LLC now owns 14,324 shares of the healthcare company’s stock valued at $356,000 after purchasing an additional 426 shares during the last quarter. 180 Wealth Advisors LLC increased its stake in UiPath by 0.3% in the 4th quarter. 180 Wealth Advisors LLC now owns 188,950 shares of the healthcare company’s stock valued at $4,497,000 after buying an additional 492 shares during the last quarter. Bleakley Financial Group LLC boosted its stake in shares of UiPath by 4.9% in the 4th quarter. Bleakley Financial Group LLC now owns 12,691 shares of the healthcare company’s stock worth $315,000 after buying an additional 598 shares during the last quarter. Simplicity Solutions LLC grew its holdings in shares of UiPath by 4.9% in the fourth quarter. Simplicity Solutions LLC now owns 12,691 shares of the healthcare company’s stock valued at $315,000 after acquiring an additional 598 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of UiPath by 1.7% during the first quarter. Principal Financial Group Inc. now owns 36,772 shares of the healthcare company’s stock valued at $834,000 after acquiring an additional 622 shares during the last quarter. 62.50% of the stock is owned by hedge funds and other 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.