UiPath (NYSE:PATH) Trading Down 1.3%

Shares of UiPath Inc. (NYSE:PATH - Get Free Report) traded down 1.3% on Tuesday . The company traded as low as $19.15 and last traded at $19.22. 1,871,356 shares traded hands during trading, a decline of 79% from the average session volume of 9,000,118 shares. The stock had previously closed at $19.48.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. JPMorgan Chase & Co. raised shares of UiPath from a "neutral" rating to an "overweight" rating and raised their price objective for the stock from $22.00 to $28.00 in a report on Thursday, March 14th. Truist Financial reissued a "buy" rating and set a $32.00 price objective on shares of UiPath in a report on Wednesday, March 20th. Evercore ISI lifted their target price on shares of UiPath from $24.00 to $27.00 and gave the company an "in-line" rating in a report on Thursday, March 14th. TD Cowen lifted their target price on shares of UiPath from $25.00 to $28.00 and gave the company an "outperform" rating in a report on Thursday, March 14th. Finally, William Blair assumed coverage on shares of UiPath in a report on Tuesday, January 2nd. They issued an "outperform" rating on the stock. 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 MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $27.41.

UiPath Stock Performance

The company has a market capitalization of $11.04 billion, a PE ratio of -114.14 and a beta of 0.96. The firm's 50-day simple moving average is $23.16 and its 200 day simple moving average is $21.47.

UiPath (NYSE:PATH - Get Free Report) last issued its earnings results on Wednesday, March 13th. The healthcare company reported $0.06 EPS for the quarter, topping the consensus estimate 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 analyst estimates of $383.32 million. As a group, equities analysts anticipate 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 company's stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $22.84, for a total value of $365,440.00. Following the transaction, the chief financial officer now directly owns 87,505 shares in the company, valued at approximately $1,998,614.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In the last ninety days, insiders have sold 72,000 shares of company stock worth $1,591,360. Corporate insiders own 31.03% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of UiPath during the 4th quarter valued at about $165,749,000. BlackRock Inc. increased 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 valued at $387,354,000 after acquiring an additional 5,681,577 shares during the last quarter. Altimeter Capital Management LP increased 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 valued at $71,579,000 after acquiring an additional 5,270,194 shares during the last quarter. Millennium Management LLC increased its stake in shares of UiPath by 899.5% during the 4th quarter. Millennium Management LLC now owns 4,049,999 shares of the healthcare company's stock valued at $51,475,000 after acquiring an additional 3,644,799 shares during the last quarter. Finally, State Street Corp increased its stake in shares of UiPath by 251.1% during the 2nd quarter. State Street Corp now owns 4,996,369 shares of the healthcare company's stock valued at $90,884,000 after acquiring an additional 3,573,238 shares during the last quarter. 62.50% of the stock is currently owned by hedge funds and other institutional investors.

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.