UiPath (NYSE:PATH) Stock Price Down 1.4% After Insider Selling

UiPath Inc. (NYSE:PATH - Get Free Report) traded down 1.4% on Wednesday after an insider sold shares in the company. The company traded as low as $21.10 and last traded at $21.49. 1,701,337 shares were traded during trading, a decline of 81% from the average session volume of 9,107,062 shares. The stock had previously closed at $21.80.

Specifically, CFO Ashim Gupta sold 16,000 shares of the stock in a transaction on Friday, March 15th. The shares were sold at an average price of $22.84, for a total transaction of $365,440.00. Following the transaction, the chief financial officer now directly owns 87,505 shares of the company's stock, valued at $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 have sold 72,000 shares of company stock worth $1,591,360. 31.03% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

PATH has been the topic of several research reports. BMO Capital Markets raised their price target on shares of UiPath from $24.00 to $28.00 and gave the stock a "market perform" rating in a research note on Thursday, March 14th. 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. Morgan Stanley lifted their target price on shares of UiPath from $17.00 to $25.00 and gave the stock an "equal weight" rating in a research note on Thursday, March 14th. Canaccord Genuity Group lifted their target price on shares of UiPath from $27.00 to $30.00 and gave the stock a "buy" rating in a research note on Friday, March 15th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $30.00 target price on shares of UiPath in a research note on Wednesday, March 20th. Nine research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $27.41.

UiPath Stock Down 1.9 %

The stock has a market cap of $12.17 billion, a price-to-earnings ratio of -125.82 and a beta of 0.96. The business's fifty day moving average is $23.39 and its two-hundred day moving average is $21.33.

UiPath (NYSE:PATH - Get Free Report) last announced its quarterly earnings data on Wednesday, March 13th. The healthcare company reported $0.06 earnings per share for the quarter, beating 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 firm had revenue of $405.25 million during the quarter, compared to analysts' expectations of $383.32 million. As a group, sell-side analysts expect that UiPath Inc. will post -0.04 earnings per share for the current year.

Institutional Trading of UiPath

Several institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in UiPath by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 38,084,858 shares of the healthcare company's stock valued at $946,028,000 after buying an additional 334,085 shares during the period. BlackRock Inc. grew its stake in shares of UiPath by 32.1% during the 2nd quarter. BlackRock Inc. now owns 23,376,854 shares of the healthcare company's stock worth $387,354,000 after purchasing an additional 5,681,577 shares during the period. FMR LLC grew its stake in shares of UiPath by 2.9% during the 3rd quarter. FMR LLC now owns 16,238,176 shares of the healthcare company's stock worth $277,835,000 after purchasing an additional 463,032 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of UiPath by 37.4% during the 2nd quarter. Goldman Sachs Group Inc. now owns 11,662,087 shares of the healthcare company's stock worth $193,241,000 after purchasing an additional 3,172,300 shares during the period. Finally, Altimeter Capital Management LP grew its stake in shares of UiPath by 175.4% during the 1st quarter. Altimeter Capital Management LP now owns 8,275,000 shares of the healthcare company's stock worth $71,579,000 after purchasing an additional 5,270,194 shares during the period. Hedge funds and other institutional investors 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, and Japan. The company offers a suite of interrelated software to build, manage, run, engage, measure, and govern automation within the organization.