UiPath (NYSE:PATH) Trading Down 3.7%

UiPath Inc. (NYSE:PATH)’s stock price was down 3.7% on Thursday . The company traded as low as $18.92 and last traded at $18.98. Approximately 1,284,667 shares were traded during trading, a decline of 85% from the average daily volume of 8,701,514 shares. The stock had previously closed at $19.70.

Analysts Set New Price Targets

A number of equities analysts have weighed in on PATH shares. Mizuho increased their target price on shares of UiPath from $22.00 to $25.00 and gave the stock a “neutral” rating in a research report on Thursday, March 14th. KeyCorp started coverage on shares of UiPath in a research report on Monday, April 8th. They set an “overweight” rating and a $27.00 target price for the company. Scotiabank increased their target price on shares of UiPath from $29.00 to $30.00 and gave the stock a “sector perform” rating in a research report on Thursday, March 14th. Evercore ISI increased their target price on shares of UiPath from $24.00 to $27.00 and gave the stock an “in-line” rating in a research report on Thursday, March 14th. Finally, Bank of America raised their price objective on shares of UiPath from $26.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, March 14th. Nine research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $27.41.

UiPath Price Performance

The business’s 50 day moving average is $22.19 and its two-hundred day moving average is $21.55.

UiPath (NYSE:PATH) last announced its earnings results on Wednesday, March 13th. The healthcare company reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.10. The business had revenue of $405.25 million for the quarter, compared to the consensus estimate of $383.32 million. UiPath had a negative net margin of 6.87% and a negative return on equity of 3.29%. As a group, equities analysts anticipate that UiPath Inc. will post -0.04 EPS for the current fiscal year.

Insider Activity at UiPath

In related news, CFO Ashim Gupta sold 16,000 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $22.47, for a total value of $359,520.00. Following the sale, the chief financial officer now directly owns 103,505 shares of the company’s stock, valued at $2,325,757.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 72,000 shares of company stock valued at $1,591,360 over the last three months. 31.03% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in shares of UiPath by 0.9% during 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 in the last quarter. FMR LLC raised its stake in shares of UiPath by 2.9% during the third quarter. FMR LLC now owns 16,238,176 shares of the healthcare company’s stock worth $277,835,000 after acquiring an additional 463,032 shares in the last quarter. Norges Bank purchased a new position in shares of UiPath during the fourth quarter worth approximately $165,749,000. Senvest Management LLC raised its stake in shares of UiPath by 3.0% during the third quarter. Senvest Management LLC now owns 6,209,655 shares of the healthcare company’s stock worth $106,247,000 after acquiring an additional 181,722 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in shares of UiPath by 2.3% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,301,413 shares of the healthcare company’s stock worth $131,687,000 after acquiring an additional 119,782 shares in the last quarter. 62.50% of the stock is owned by hedge funds and other institutional investors.

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.