UiPath Inc. (NASDAQ:PATH) shares reached a new 52-week low during trading on Wednesday . The company traded as low as $52.95 and last traded at $53.16, with a volume of 201765 shares changing hands. The stock had previously closed at $55.89.
Several research analysts recently issued reports on the stock. KeyCorp upped their target price on shares of UiPath from $82.00 to $86.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 9th. Oppenheimer reiterated a “hold” rating on shares of UiPath in a research report on Wednesday, September 8th. Summit Redstone assumed coverage on shares of UiPath in a research report on Monday, July 12th. They issued a “sell” rating and a $40.00 target price for the company. BMO Capital Markets lowered their price target on shares of UiPath from $85.00 to $70.00 and set a “market perform” rating for the company in a research note on Wednesday, September 8th. Finally, Canaccord Genuity raised shares of UiPath to a “hold” rating and lowered their price target for the stock from $75.00 to $65.00 in a research note on Wednesday, September 8th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $71.57.
The firm’s 50-day moving average price is $62.02.
In other news, insider Brad Brubaker sold 6,700 shares of the stock in a transaction that occurred on Friday, August 13th. The shares were sold at an average price of $62.13, for a total transaction of $416,271.00. Following the sale, the insider now owns 6,700 shares in the company, valued at $416,271. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Ted Kummert sold 50,000 shares of the stock in a transaction that occurred on Thursday, September 9th. The shares were sold at an average price of $56.09, for a total transaction of $2,804,500.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 490,052 shares of company stock worth $29,380,065. Corporate insiders own 28.60% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. DekaBank Deutsche Girozentrale bought a new position in UiPath in the second quarter worth approximately $1,351,000. Arden Trust Co bought a new stake in shares of UiPath during the 2nd quarter valued at $239,000. Sierra Capital LLC bought a new stake in shares of UiPath during the 2nd quarter valued at $34,000. LA Financiere DE L Echiquier bought a new stake in shares of UiPath during the 2nd quarter valued at $27,523,000. Finally, Sanders Morris Harris LLC bought a new stake in shares of UiPath during the 2nd quarter valued at $3,059,000. Institutional investors and hedge funds own 31.14% of the company’s stock.
About UiPath (NASDAQ:PATH)
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. It develops UiPath Studio, a platform designed for RPA developers looking to build complex process automations with built-in governance capabilities, such as robust debugging tools, application programming interface automation, wizards to automate desktop or web applications, leverage custom code, and to integrate machine learning models into production workflows.
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