UiPath (NYSE:PATH) Shares Down 1.3%

UiPath Inc. (NYSE:PATH)’s stock price fell 1.3% during trading on Tuesday . The company traded as low as $19.15 and last traded at $19.22. 1,871,356 shares changed hands during trading, a decline of 79% from the average session volume of 9,000,118 shares. The stock had previously closed at $19.48.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on PATH shares. Bank of America boosted their price objective on shares of UiPath from $26.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, March 14th. Wells Fargo & Company upped their price target on UiPath from $24.00 to $25.00 and gave the company an “equal weight” rating in a report on Thursday, March 14th. Mizuho lifted their price objective on UiPath from $22.00 to $25.00 and gave the stock a “neutral” rating in a report on Thursday, March 14th. Needham & Company LLC restated a “buy” rating and set a $30.00 target price on shares of UiPath in a research note on Wednesday, March 20th. Finally, Morgan Stanley raised their price target on shares of UiPath from $17.00 to $25.00 and gave the company an “equal weight” rating in a report on Thursday, March 14th. Nine investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $27.41.

UiPath Price Performance

The company has a 50-day moving average of $23.24 and a two-hundred day moving average of $21.46. The company has a market capitalization of $11.10 billion, a PE ratio of -113.05 and a beta of 0.96.

UiPath (NYSE:PATH) last posted its quarterly earnings data 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 firm had revenue of $405.25 million for the quarter, compared to analysts’ expectations of $383.32 million. UiPath had a negative return on equity of 3.29% and a negative net margin of 6.87%. As a group, research analysts anticipate that UiPath Inc. will post -0.04 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Ashim Gupta sold 40,000 shares of the company’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $21.66, for a total value of $866,400.00. Following the completion of the transaction, the chief financial officer now owns 660,762 shares of the company’s stock, valued at approximately $14,312,104.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders sold a total of 72,000 shares of company stock worth $1,591,360 over the last three months. 31.03% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in shares of UiPath in the fourth quarter worth about $165,749,000. BlackRock Inc. boosted its position in shares of UiPath by 32.1% during the 2nd quarter. BlackRock Inc. now owns 23,376,854 shares of the healthcare company’s stock valued at $387,354,000 after acquiring an additional 5,681,577 shares during the last quarter. Altimeter Capital Management LP grew its holdings in shares of UiPath by 175.4% in the first 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 increased its position in UiPath by 899.5% in the fourth quarter. Millennium Management LLC now owns 4,049,999 shares of the healthcare company’s stock worth $51,475,000 after purchasing an additional 3,644,799 shares during the last quarter. Finally, State Street Corp raised its stake in UiPath by 251.1% during the second 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. 62.50% of the stock is currently owned by 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, and Japan. The company offers a suite of interrelated software to build, manage, run, engage, measure, and govern automation within the organization.