UiPath (NYSE:PATH) Shares Down 1.1%

UiPath Inc. (NYSE:PATH - Get Free Report)'s stock price dropped 1.1% during trading on Thursday . The stock traded as low as $21.12 and last traded at $21.17. Approximately 1,266,839 shares were traded during mid-day trading, a decline of 86% from the average daily volume of 9,047,531 shares. The stock had previously closed at $21.41.

Analysts Set New Price Targets

PATH has been the topic of several recent research reports. KeyCorp initiated coverage on shares of UiPath in a report on Monday. They issued an "overweight" rating and a $27.00 price target on the stock. DA Davidson upped their price target on shares of UiPath from $20.00 to $24.00 and gave the company a "neutral" rating in a report on Thursday, March 14th. Canaccord Genuity Group upped their price target on shares of UiPath from $27.00 to $30.00 and gave the company a "buy" rating in a report on Friday, March 15th. Barclays upped their price target on shares of UiPath from $23.00 to $25.00 and gave the company an "equal weight" rating in a report on Friday, March 15th. Finally, Scotiabank increased their target price on shares of UiPath from $29.00 to $30.00 and gave the stock a "sector perform" rating in a research note on Thursday, March 14th. Nine analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $27.41.

UiPath Stock Performance

The firm's 50 day moving average price is $23.39 and its two-hundred day moving average price is $21.33. The firm has a market cap of $12.13 billion, a PE ratio of -125.93 and a beta of 0.96.

UiPath (NYSE:PATH - Get Free Report) last posted its quarterly earnings data on Wednesday, March 13th. The healthcare company reported $0.06 earnings per share 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 net margin of 6.87% and a negative return on equity of 3.29%. On average, analysts forecast that UiPath Inc. will post -0.04 earnings per share for the current year.

Insider Buying and Selling at UiPath

In other UiPath news, CFO Ashim Gupta sold 16,000 shares of the firm's stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $22.47, for a total value of $359,520.00. Following the completion of the transaction, the chief financial officer now owns 103,505 shares of the company's stock, valued at approximately $2,325,757.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 72,000 shares of company stock valued at $1,591,360 in the last 90 days. Company insiders own 31.03% of the company's stock.

Hedge Funds Weigh In On UiPath

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Mark Sheptoff Financial Planning LLC acquired a new stake in shares of UiPath in the 4th quarter valued at $25,000. HighMark Wealth Management LLC acquired a new stake in UiPath during the 4th quarter worth $27,000. Cypress Capital Management LLC WY acquired a new stake in UiPath during the 4th quarter worth $29,000. GAMMA Investing LLC acquired a new stake in UiPath during the 4th quarter worth $36,000. Finally, Mango Five Family Inc. acquired a new stake in UiPath during the 4th quarter worth $40,000. 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, and Japan. The company offers a suite of interrelated software to build, manage, run, engage, measure, and govern automation within the organization.