UiPath (NYSE:PATH) Shares Down 6% – Here’s What Happened

UiPath, Inc. (NYSE:PATH)’s share price fell 6% on Thursday . The stock traded as low as $13.01 and last traded at $13.2630. 31,688,153 shares traded hands during mid-day trading, an increase of 20% from the average session volume of 26,479,711 shares. The stock had previously closed at $14.11.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Mizuho increased their price target on shares of UiPath from $14.00 to $15.00 and gave the stock a “neutral” rating in a research note on Thursday, December 4th. Royal Bank Of Canada decreased their target price on shares of UiPath from $19.00 to $17.00 and set a “sector perform” rating for the company in a research note on Monday, January 5th. UBS Group reissued a “neutral” rating on shares of UiPath in a report on Thursday, December 4th. Morgan Stanley upped their price objective on UiPath from $15.00 to $19.00 and gave the company an “equal weight” rating in a research note on Tuesday, December 9th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of UiPath in a research report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $16.00.

UiPath Trading Down 5.2%

The stock has a fifty day simple moving average of $15.82 and a two-hundred day simple moving average of $13.99. The company has a market cap of $6.72 billion, a PE ratio of 29.92, a price-to-earnings-growth ratio of 3.89 and a beta of 1.08.

UiPath (NYSE:PATH) last issued its earnings results on Wednesday, December 3rd. The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.02. UiPath had a return on equity of 3.73% and a net margin of 14.79%.The business had revenue of $411.11 million during the quarter, compared to the consensus estimate of $392.46 million. During the same period in the prior year, the business posted $0.11 EPS. The company’s revenue for the quarter was up 15.9% on a year-over-year basis. As a group, equities research analysts anticipate that UiPath, Inc. will post -0.17 EPS for the current fiscal year.

Insider Transactions at UiPath

In related news, CEO Daniel Dines sold 45,000 shares of the business’s stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $19.21, for a total transaction of $864,450.00. Following the sale, the chief executive officer owned 29,153,585 shares of the company’s stock, valued at approximately $560,040,367.85. The trade was a 0.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Ashim Gupta sold 67,468 shares of UiPath stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $16.10, for a total transaction of $1,086,234.80. Following the sale, the chief financial officer owned 557,028 shares of the company’s stock, valued at approximately $8,968,150.80. The trade was a 10.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 1,040,048 shares of company stock valued at $17,290,244 in the last quarter. Insiders own 23.19% of the company’s stock.

Institutional Investors Weigh In On UiPath

Institutional investors and hedge funds have recently bought and sold shares of the stock. D.A. Davidson & CO. increased its stake in UiPath by 23.8% in the third quarter. D.A. Davidson & CO. now owns 752,448 shares of the company’s stock valued at $10,068,000 after purchasing an additional 144,832 shares during the last quarter. Inspire Investing LLC acquired a new position in UiPath during the second quarter valued at approximately $891,000. AlphaQuest LLC lifted its holdings in shares of UiPath by 863.9% during the 2nd quarter. AlphaQuest LLC now owns 42,847 shares of the company’s stock valued at $548,000 after acquiring an additional 38,402 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in shares of UiPath by 7.3% during the second quarter. Russell Investments Group Ltd. now owns 1,445,644 shares of the company’s stock worth $18,448,000 after purchasing an additional 98,058 shares in the last quarter. Finally, CWM LLC lifted its position in UiPath by 96.2% during the 2nd quarter. CWM LLC now owns 312,073 shares of the company’s stock worth $3,995,000 after acquiring an additional 152,988 shares in the last quarter. Hedge funds and other institutional investors own 62.50% of the company’s stock.

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. Its platform's embedded AI, ML, and NLP capabilities improve decisioning and information processing; emulate human behavior allows organizations to address a myriad of use cases; emulate human behavior allows organizations to address a myriad of use cases; multi-tenant platform enterprise deployment with security and governance and Automation Cloud, which enables customers to begin automating without the need to provision infrastructure, install applications, or perform additional configurations; intuitive interface and low-code, drag-and-drop functionality; signed to enable people and automations to work together; and tracks, measures, and forecasts the performance of automations, enables customers to gain powerful insights and generate key performance indicators with actionable metric.