UiPath (NYSE:PATH) Shares Down 3%

Shares of UiPath Inc. (NYSE:PATH) were down 3% on Tuesday . The company traded as low as $21.30 and last traded at $21.52. Approximately 2,391,464 shares were traded during mid-day trading, a decline of 75% from the average daily volume of 9,385,548 shares. The stock had previously closed at $22.19.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on PATH shares. William Blair started coverage on UiPath in a report on Tuesday, January 2nd. They issued an “outperform” rating on the stock. Truist Financial restated a “buy” rating and issued a $32.00 target price on shares of UiPath in a report on Wednesday, March 20th. 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 report on Thursday, March 14th. Needham & Company LLC restated a “buy” rating and issued a $30.00 target price on shares of UiPath in a report on Wednesday, March 20th. Finally, Bank of America raised their target price on UiPath from $26.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, March 14th. Nine research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $27.44.

UiPath Stock Down 2.8 %

The company has a market capitalization of $12.20 billion, a PE ratio of -126.58 and a beta of 0.96. The company has a 50-day moving average price of $23.63 and a two-hundred day moving average price of $21.14.

Insider Buying and Selling

In related news, Director Rich Wong sold 200,000 shares of the business’s stock in a transaction dated Monday, January 8th. The stock was sold at an average price of $23.12, for a total transaction of $4,624,000.00. Following the transaction, the director now owns 429,418 shares in the company, valued at approximately $9,928,144.16. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CFO Ashim Gupta sold 16,000 shares of the firm’s stock in a transaction on Monday, February 5th. The stock was sold at an average price of $22.47, for a total value of $359,520.00. Following the transaction, the chief financial officer now directly owns 103,505 shares of the company’s stock, valued at approximately $2,325,757.35. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Rich Wong sold 200,000 shares of the firm’s stock in a transaction on Monday, January 8th. The stock was sold at an average price of $23.12, for a total value of $4,624,000.00. Following the completion of the transaction, the director now directly owns 429,418 shares in the company, valued at $9,928,144.16. The disclosure for this sale can be found here. Insiders sold a total of 427,000 shares of company stock worth $9,784,110 over the last ninety days. 31.03% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On UiPath

A number of institutional investors have recently bought and sold shares of PATH. Mark Sheptoff Financial Planning LLC purchased a new stake in UiPath in the 4th quarter worth $25,000. HighMark Wealth Management LLC bought a new stake in UiPath in the fourth quarter worth about $27,000. Tyler Stone Wealth Management bought a new stake in UiPath in the second quarter worth about $28,000. Cypress Capital Management LLC WY bought a new stake in UiPath in the fourth quarter worth about $29,000. Finally, Fifth Third Bancorp lifted its stake in UiPath by 2,005.3% in the third quarter. Fifth Third Bancorp now owns 2,000 shares of the healthcare company’s stock worth $34,000 after purchasing an additional 1,905 shares during the last quarter. Hedge funds and other institutional investors 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.