UiPath (NYSE:PATH) Stock Price Down 0.7%

UiPath Inc. (NYSE:PATH)’s share price dropped 0.7% on Tuesday . The company traded as low as $22.72 and last traded at $22.92. Approximately 1,678,349 shares were traded during trading, a decline of 83% from the average daily volume of 9,641,169 shares. The stock had previously closed at $23.07.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $29.00 price objective on shares of UiPath in a research report on Wednesday, March 20th. BMO Capital Markets upped their price objective on shares of UiPath from $24.00 to $28.00 and gave the company a “market perform” rating in a research note on Thursday, March 14th. JPMorgan Chase & Co. raised shares of UiPath from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $22.00 to $28.00 in a research report on Thursday, March 14th. William Blair initiated coverage on shares of UiPath in a research report on Tuesday, January 2nd. They set an “outperform” rating for the company. Finally, Needham & Company LLC reissued a “buy” rating and set a $30.00 price objective on shares of UiPath in a research note on Wednesday, March 20th. Nine research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $27.44.

UiPath Stock Up 0.3 %

The company has a market cap of $12.90 billion, a PE ratio of -133.99 and a beta of 0.97. The business’s 50 day moving average price is $23.63 and its 200-day moving average price is $21.03.

Insider Buying and Selling

In other UiPath news, Director Rich Wong sold 200,000 shares of the company’s stock in a transaction dated Monday, January 8th. The shares were sold at an average price of $23.12, for a total value of $4,624,000.00. Following the completion of the transaction, the director now directly owns 429,418 shares of the company’s stock, valued at approximately $9,928,144.16. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, Director Rich Wong sold 200,000 shares of the stock in a transaction that occurred on Monday, January 8th. The stock was sold at an average price of $23.12, for a total transaction of $4,624,000.00. Following the completion of the transaction, the director now directly owns 429,418 shares in the company, valued at approximately $9,928,144.16. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Ashim Gupta sold 125,000 shares of UiPath stock in a transaction on Thursday, January 4th. The stock was sold at an average price of $22.59, for a total transaction of $2,823,750.00. Following the completion of the sale, the chief financial officer now owns 858,148 shares of the company’s stock, valued at approximately $19,385,563.32. The disclosure for this sale can be found here. Insiders have sold 427,000 shares of company stock valued at $9,784,110 in the last quarter. Company insiders own 31.03% of the company’s stock.

Hedge Funds Weigh In On UiPath

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in UiPath by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 38,084,858 shares of the healthcare company’s stock worth $946,028,000 after buying an additional 334,085 shares during the last quarter. BlackRock Inc. lifted its stake in UiPath by 32.1% during the second 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 last quarter. FMR LLC boosted its holdings in UiPath by 2.9% in the third 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. increased its stake in UiPath by 37.4% during the second quarter. Goldman Sachs Group Inc. now owns 11,662,087 shares of the healthcare company’s stock valued at $193,241,000 after purchasing an additional 3,172,300 shares during the last quarter. Finally, Altimeter Capital Management LP raised its holdings in shares of UiPath by 175.4% during the first 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. 62.50% of the stock is currently owned by institutional investors and hedge funds.

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.