UiPath (NYSE:PATH) Trading Down 1.6%

UiPath Inc. (NYSE:PATH - Get Free Report)'s stock price dropped 1.6% during mid-day trading on Thursday . The company traded as low as $19.16 and last traded at $19.27. Approximately 2,123,128 shares changed hands during trading, a decline of 73% from the average daily volume of 7,989,241 shares. The stock had previously closed at $19.59.

Analysts Set New Price Targets

PATH has been the topic of a number of research analyst reports. JPMorgan Chase & Co. raised UiPath from a "neutral" rating to an "overweight" rating and upped their price target for the company from $22.00 to $28.00 in a report on Thursday, March 14th. Morgan Stanley increased their target price on UiPath from $17.00 to $25.00 and gave the company an "equal weight" rating in a report on Thursday, March 14th. Mizuho increased their target price on UiPath from $22.00 to $25.00 and gave the company a "neutral" rating in a report on Thursday, March 14th. KeyCorp started coverage on UiPath in a report on Monday, April 8th. They issued an "overweight" rating and a $27.00 target price on the stock. Finally, TD Cowen upped their price target on UiPath from $25.00 to $28.00 and gave the stock an "outperform" rating in a research report on Thursday, March 14th. 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 a consensus price target of $27.41.

UiPath Stock Down 2.9 %

The business has a 50 day moving average of $20.71 and a 200 day moving average of $22.05. The company has a market capitalization of $10.83 billion, a P/E ratio of -111.91 and a beta of 1.01.

UiPath (NYSE:PATH - Get Free Report) last announced its quarterly earnings results on Wednesday, March 13th. The healthcare company reported $0.06 EPS for the quarter, beating analysts' consensus estimates of ($0.04) by $0.10. The company had revenue of $405.25 million during the quarter, compared to analyst estimates of $383.32 million. UiPath had a negative return on equity of 3.29% and a negative net margin of 6.87%. On average, research analysts anticipate that UiPath Inc. will post -0.04 EPS for the current year.

Insider Activity

In other news, CFO Ashim Gupta sold 40,000 shares of the firm's stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $21.66, for a total value of $866,400.00. Following the completion of the sale, the chief financial officer now directly owns 660,762 shares of the company's stock, valued at approximately $14,312,104.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 96,000 shares of company stock valued at $2,023,440 in the last ninety days. Insiders own 22.37% of the company's stock.

Hedge Funds Weigh In On UiPath

A number of large investors have recently bought and sold shares of the business. Norges Bank bought a new stake in UiPath during the 4th quarter valued at $165,749,000. Vanguard Group Inc. raised its position in UiPath by 7.6% during the 3rd quarter. Vanguard Group Inc. now owns 37,750,773 shares of the healthcare company's stock valued at $645,916,000 after purchasing an additional 2,673,718 shares in the last quarter. Artisan Partners Limited Partnership bought a new stake in UiPath during the 4th quarter valued at $48,267,000. Glenmede Trust Co. NA raised its position in UiPath by 3,273.3% during the 3rd quarter. Glenmede Trust Co. NA now owns 1,564,985 shares of the healthcare company's stock valued at $26,777,000 after purchasing an additional 1,518,592 shares in the last quarter. Finally, Vestmark Advisory Solutions Inc. bought a new stake in UiPath during the 4th quarter valued at $15,543,000. 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, 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.