UiPath (NYSE:PATH) Stock Price Up 1.8%

UiPath Inc. (NYSE:PATH)’s share price traded up 1.8% on Monday . The company traded as high as $19.98 and last traded at $19.82. 1,242,964 shares changed hands during mid-day trading, a decline of 86% from the average session volume of 8,609,538 shares. The stock had previously closed at $19.46.

Analysts Set New Price Targets

A number of research firms have recently commented on PATH. William Blair began coverage on shares of UiPath in a research report on Tuesday, January 2nd. They set an “outperform” rating for the company. Barclays boosted their price target on shares of UiPath from $23.00 to $25.00 and gave the company an “equal weight” rating in a research report on Friday, March 15th. Wells Fargo & Company boosted their price target 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. JPMorgan Chase & Co. upgraded shares of UiPath from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $22.00 to $28.00 in a research report on Thursday, March 14th. Finally, Scotiabank boosted their price target on shares of UiPath from $29.00 to $30.00 and gave the company a “sector perform” rating in a research report on Thursday, March 14th. Nine equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $27.41.

UiPath Price Performance

The firm’s 50 day moving average price is $22.19 and its 200-day moving average price is $21.61. The stock has a market cap of $11.19 billion, a P/E ratio of -116.58 and a beta of 0.96.

UiPath (NYSE:PATH) last issued 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 company had revenue of $405.25 million for 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 expect that UiPath Inc. will post -0.04 earnings per share for the current year.

Insider Activity at UiPath

In other UiPath news, CFO Ashim Gupta sold 16,000 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 87,505 shares in the company, valued at $1,998,614.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 72,000 shares of company stock worth $1,591,360 over the last quarter. Company insiders own 31.03% of the company’s stock.

Institutional Trading of UiPath

A number of hedge funds and other institutional investors have recently modified their holdings of PATH. Vanguard Group Inc. grew its stake in UiPath by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 38,084,858 shares of the healthcare company’s stock valued at $946,028,000 after acquiring an additional 334,085 shares in the last quarter. FMR LLC grew its stake in UiPath by 2.9% during the third quarter. FMR LLC now owns 16,238,176 shares of the healthcare company’s stock valued at $277,835,000 after acquiring an additional 463,032 shares in the last quarter. Norges Bank purchased a new position in UiPath during the fourth quarter valued at $165,749,000. Senvest Management LLC grew its stake in UiPath by 3.0% during the third quarter. Senvest Management LLC now owns 6,209,655 shares of the healthcare company’s stock valued at $106,247,000 after acquiring an additional 181,722 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in UiPath by 2.3% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,301,413 shares of the healthcare company’s stock valued at $131,687,000 after acquiring an additional 119,782 shares in the last quarter. 62.50% of the stock is owned by hedge funds and other 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, 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.