UiPath (NYSE:PATH) Stock Price Down 0.4%

UiPath Inc. (NYSE:PATH)’s share price was down 0.4% on Thursday . The company traded as low as $18.88 and last traded at $19.17. Approximately 1,064,808 shares were traded during mid-day trading, a decline of 87% from the average daily volume of 8,476,149 shares. The stock had previously closed at $19.24.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Wells Fargo & Company raised their target price on UiPath from $24.00 to $25.00 and gave the company an “equal weight” rating in a research report on Thursday, March 14th. Scotiabank increased their target price on UiPath from $29.00 to $30.00 and gave the company a “sector perform” rating in a research report on Thursday, March 14th. Bank of America upped their price target on shares of UiPath from $26.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, March 14th. Barclays lifted their price objective on UiPath from $23.00 to $25.00 and gave the stock an “equal weight” rating in a report on Friday, March 15th. Finally, BMO Capital Markets lifted their price target on UiPath from $24.00 to $28.00 and gave the stock a “market perform” rating in a research note on Thursday, March 14th. Nine investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, UiPath currently has an average rating of “Moderate Buy” and a consensus target price of $27.41.

UiPath Stock Performance

The firm has a market capitalization of $11.08 billion, a PE ratio of -114.55 and a beta of 1.01. The business’s 50 day moving average price is $21.75 and its 200-day moving average price is $21.65.

UiPath (NYSE:PATH) last released its quarterly 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 return on equity of 3.29% and a negative net margin of 6.87%. The business had revenue of $405.25 million during the quarter, compared to analyst estimates of $383.32 million. As a group, analysts anticipate that UiPath Inc. will post -0.04 earnings per share for the current year.

Insiders Place Their Bets

In other UiPath news, CFO Ashim Gupta sold 16,000 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $22.84, for a total value of $365,440.00. Following the completion of the transaction, the chief financial officer now owns 87,505 shares of the company’s stock, valued at approximately $1,998,614.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 72,000 shares of company stock worth $1,591,360 over the last three months. Company insiders own 31.03% of the company’s stock.

Institutional Investors Weigh In On UiPath

A number of hedge funds have recently bought and sold shares of PATH. Vanguard Group Inc. lifted its stake in UiPath by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 38,084,858 shares of the healthcare company’s stock worth $946,028,000 after acquiring an additional 334,085 shares during the last quarter. FMR LLC lifted its position in shares of UiPath by 2.9% during the 3rd 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 last quarter. Norges Bank acquired a new position in shares of UiPath during the fourth quarter worth $165,749,000. Senvest Management LLC increased its holdings in UiPath by 3.0% in the third quarter. Senvest Management LLC now owns 6,209,655 shares of the healthcare company’s stock valued at $106,247,000 after buying an additional 181,722 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in UiPath by 2.3% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,301,413 shares of the healthcare company’s stock valued at $131,687,000 after buying an additional 119,782 shares in the last quarter. Institutional investors and hedge funds 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, 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.