UiPath (NYSE:PATH) Shares Down 0.6%

UiPath Inc. (NYSE:PATH - Get Free Report) was down 0.6% during mid-day trading on Tuesday . The stock traded as low as $21.44 and last traded at $21.52. Approximately 1,595,657 shares traded hands during trading, a decline of 83% from the average daily volume of 9,147,468 shares. The stock had previously closed at $21.65.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on PATH shares. Truist Financial restated a "buy" rating and set a $32.00 price objective on shares of UiPath in a report on Wednesday, March 20th. Scotiabank boosted their price objective on UiPath from $29.00 to $30.00 and gave the stock a "sector perform" rating in a report on Thursday, March 14th. BMO Capital Markets lifted their target price on UiPath from $24.00 to $28.00 and gave the company a "market perform" rating in a research note on Thursday, March 14th. Mizuho lifted their target price on UiPath from $22.00 to $25.00 and gave the company a "neutral" rating in a research note on Thursday, March 14th. Finally, Royal Bank of Canada reaffirmed a "sector perform" rating and set a $29.00 target price on shares of UiPath in a research note on Monday, April 1st. Nine research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $27.41.

UiPath Stock Up 0.7 %

The stock has a market cap of $12.40 billion, a P/E ratio of -128.24 and a beta of 0.96. The business has a 50-day simple moving average of $23.42 and a 200-day simple moving average of $21.33.

UiPath (NYSE:PATH - Get Free Report) last announced its earnings results 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. The firm had revenue of $405.25 million during the quarter, compared to analysts' expectations of $383.32 million. UiPath had a negative return on equity of 3.29% and a negative net margin of 6.87%. On average, analysts predict that UiPath Inc. will post -0.04 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Ashim Gupta sold 16,000 shares of the company's stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $22.47, for a total transaction of $359,520.00. Following the completion of the transaction, the chief financial officer now directly owns 103,505 shares in the company, valued at $2,325,757.35. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders sold 72,000 shares of company stock valued at $1,591,360 over the last 90 days. 31.03% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Norges Bank acquired a new position in shares of UiPath in the fourth quarter valued at $165,749,000. BlackRock Inc. raised its stake in shares of UiPath by 32.1% in the second quarter. BlackRock Inc. now owns 23,376,854 shares of the healthcare company's stock valued at $387,354,000 after purchasing an additional 5,681,577 shares in the last quarter. Altimeter Capital Management LP raised its stake in shares of UiPath by 175.4% in the first quarter. Altimeter Capital Management LP now owns 8,275,000 shares of the healthcare company's stock valued at $71,579,000 after purchasing an additional 5,270,194 shares in the last quarter. Millennium Management LLC raised its stake in shares of UiPath by 899.5% in the fourth quarter. Millennium Management LLC now owns 4,049,999 shares of the healthcare company's stock valued at $51,475,000 after purchasing an additional 3,644,799 shares in the last quarter. Finally, State Street Corp raised its stake in shares of UiPath by 251.1% in the second quarter. State Street Corp now owns 4,996,369 shares of the healthcare company's stock valued at $90,884,000 after purchasing an additional 3,573,238 shares in the last quarter. 62.50% of the stock is currently owned by institutional investors and hedge funds.

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, and Japan. The company offers a suite of interrelated software to build, manage, run, engage, measure, and govern automation within the organization.