UiPath (NYSE:PATH) Shares Down 3.7%

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

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on PATH shares. 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 report on Thursday, March 14th. Needham & Company LLC reiterated a “buy” rating and issued a $30.00 target price on shares of UiPath in a report on Wednesday, March 20th. Barclays increased their target price on shares of UiPath from $23.00 to $25.00 and gave the stock an “equal weight” rating in a report on Friday, March 15th. Canaccord Genuity Group increased their target price on shares of UiPath from $27.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, March 15th. Finally, Truist Financial reiterated a “buy” rating and issued a $32.00 target price on shares of UiPath in a report on Wednesday, March 20th. Nine research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $27.41.

UiPath Stock Performance

The firm’s fifty day moving average is $22.19 and its 200 day moving average is $21.55.

UiPath (NYSE:PATH) last posted its quarterly earnings data on Wednesday, March 13th. The healthcare company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.10. The firm had revenue of $405.25 million during 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%. On average, analysts forecast that UiPath Inc. will post -0.04 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Ashim Gupta sold 40,000 shares of the business’s stock in a transaction that occurred 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 directly owns 660,762 shares in the company, valued at approximately $14,312,104.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last ninety days, insiders sold 72,000 shares of company stock worth $1,591,360. 31.03% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On UiPath

Hedge funds and other institutional investors have recently made changes to their positions in the company. CWM LLC increased its position in UiPath by 19.6% during the 3rd quarter. CWM LLC now owns 8,799 shares of the healthcare company’s stock worth $151,000 after purchasing an additional 1,439 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its position in UiPath by 104.4% during the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 102,000 shares of the healthcare company’s stock worth $1,745,000 after purchasing an additional 52,100 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its position in UiPath by 196.8% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 332,715 shares of the healthcare company’s stock worth $5,693,000 after purchasing an additional 220,618 shares in the last quarter. Xponance Inc. grew its holdings in UiPath by 3.9% during the 3rd quarter. Xponance Inc. now owns 44,846 shares of the healthcare company’s stock worth $767,000 after acquiring an additional 1,694 shares during the last quarter. Finally, Raymond James & Associates grew its holdings in UiPath by 51.0% during the 3rd quarter. Raymond James & Associates now owns 89,534 shares of the healthcare company’s stock worth $1,532,000 after acquiring an additional 30,244 shares during the last quarter. 62.50% of the stock is currently owned by institutional investors and hedge funds.

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.