UiPath (NYSE:PATH) Shares Down 7.8%

Shares of UiPath Inc. (NYSE:PATH) traded down 7.8% on Tuesday . The stock traded as low as $11.81 and last traded at $11.82. 10,685,405 shares traded hands during trading, an increase of 8% from the average session volume of 9,854,744 shares. The stock had previously closed at $12.82.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Evercore ISI dropped their target price on UiPath from $27.00 to $13.00 and set an “in-line” rating on the stock in a research note on Thursday, May 30th. DA Davidson lowered their price target on UiPath from $24.00 to $13.00 and set a “neutral” rating for the company in a research report on Thursday, May 30th. Macquarie cut UiPath from an “outperform” rating to a “neutral” rating and lowered their price target for the stock from $29.00 to $12.00 in a research report on Monday, June 3rd. William Blair cut UiPath from an “outperform” rating to a “market perform” rating in a research report on Thursday, May 30th. Finally, KeyCorp reaffirmed a “sector weight” rating on shares of UiPath in a research report on Thursday, May 30th. Sixteen research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $18.06.

UiPath Stock Performance

The company has a 50 day moving average of $15.11 and a two-hundred day moving average of $20.07. The stock has a market cap of $7.07 billion, a PE ratio of -77.19 and a beta of 0.86.

UiPath (NYSE:PATH) last posted its quarterly earnings results on Wednesday, May 29th. The healthcare company reported ($0.03) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.03). The business had revenue of $335.11 million during the quarter, compared to analyst estimates of $332.84 million. UiPath had a negative return on equity of 2.97% and a negative net margin of 6.41%. As a group, equities research analysts anticipate that UiPath Inc. will post -0.2 EPS for the current year.

Insider Activity

In related news, CFO Ashim Gupta sold 40,000 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $19.79, for a total value of $791,600.00. Following the transaction, the chief financial officer now directly owns 946,848 shares in the company, valued at $18,738,121.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 22.37% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Norges Bank acquired a new position in UiPath during the fourth quarter worth $165,749,000. Vanguard Group Inc. lifted its stake in UiPath by 7.6% during the third quarter. Vanguard Group Inc. now owns 37,750,773 shares of the healthcare company’s stock worth $645,916,000 after purchasing an additional 2,673,718 shares in the last quarter. Artisan Partners Limited Partnership acquired a new position in UiPath during the fourth quarter worth $48,267,000. Vestmark Advisory Solutions Inc. acquired a new position in UiPath during the fourth quarter worth $15,543,000. Finally, First Trust Advisors LP lifted its stake in UiPath by 122.6% during the fourth quarter. First Trust Advisors LP now owns 1,132,984 shares of the healthcare company’s stock worth $28,143,000 after purchasing an additional 624,003 shares in the last quarter. 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, 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.