UiPath (NYSE:PATH) Stock Price Down 0.4%

UiPath Inc. (NYSE:PATH)’s stock price fell 0.4% during trading on Wednesday . The stock traded as low as $22.39 and last traded at $22.61. 1,413,855 shares were traded during mid-day trading, a decline of 85% from the average session volume of 9,564,960 shares. The stock had previously closed at $22.71.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on PATH shares. Mizuho raised their price objective on shares of UiPath from $22.00 to $25.00 and gave the company a “neutral” rating in a research report on Thursday, March 14th. JPMorgan Chase & Co. upgraded shares of UiPath from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $22.00 to $28.00 in a research report on Thursday, March 14th. Wells Fargo & Company boosted their price objective on shares of UiPath from $24.00 to $25.00 and gave the company an “equal weight” rating in a research report on Thursday, March 14th. DA Davidson boosted their price objective on shares of UiPath from $20.00 to $24.00 and gave the company a “neutral” rating in a research report on Thursday, March 14th. Finally, Truist Financial reaffirmed a “buy” rating and set a $32.00 target price on shares of UiPath in a research note on Wednesday, March 20th. Nine analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $27.44.

UiPath Trading Down 0.5 %

The company’s fifty day simple moving average is $23.65 and its 200-day simple moving average is $21.04.

Insider Buying and Selling

In other news, CFO Ashim Gupta sold 16,000 shares of UiPath stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $22.84, for a total transaction of $365,440.00. Following the completion of the transaction, the chief financial officer now directly owns 87,505 shares of the company’s stock, valued at approximately $1,998,614.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Rich Wong sold 200,000 shares of UiPath stock in a transaction on 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 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 legal filing with the SEC, which is accessible through this link. Also, CFO Ashim Gupta sold 16,000 shares of the firm’s stock in a transaction 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 sale, the chief financial officer now directly owns 87,505 shares of the company’s stock, valued at approximately $1,998,614.20. The disclosure for this sale can be found here. Insiders sold 427,000 shares of company stock worth $9,784,110 in the last three months. Corporate insiders own 31.03% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in PATH. Norges Bank acquired a new position in UiPath in the 4th quarter valued at about $165,749,000. BlackRock Inc. lifted its position in UiPath by 32.1% during the 2nd quarter. BlackRock Inc. now owns 23,376,854 shares of the healthcare company’s stock worth $387,354,000 after acquiring an additional 5,681,577 shares in the last quarter. Altimeter Capital Management LP raised its position in shares of UiPath by 175.4% in the 1st quarter. Altimeter Capital Management LP now owns 8,275,000 shares of the healthcare company’s stock valued at $71,579,000 after purchasing an additional 5,270,194 shares in the last quarter. Millennium Management LLC raised its position in shares of UiPath by 899.5% in the 4th quarter. Millennium Management LLC now owns 4,049,999 shares of the healthcare company’s stock valued at $51,475,000 after purchasing an additional 3,644,799 shares in the last quarter. Finally, State Street Corp raised its position in shares of UiPath by 251.1% in the 2nd quarter. State Street Corp now owns 4,996,369 shares of the healthcare company’s stock valued at $90,884,000 after purchasing an additional 3,573,238 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, and Japan. The company offers a suite of interrelated software to build, manage, run, engage, measure, and govern automation within the organization.