UiPath (NYSE:PATH) Stock Price Down 1.1% – Here’s What Happened

UiPath Inc. (NYSE:PATH) shares fell 1.1% during trading on Thursday . The stock traded as low as $13.17 and last traded at $13.22. 2,521,140 shares were traded during mid-day trading, a decline of 68% from the average session volume of 7,951,600 shares. The stock had previously closed at $13.37.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on PATH. JPMorgan Chase & Co. upped their price target on UiPath from $17.00 to $18.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. BMO Capital Markets increased their target price on shares of UiPath from $15.00 to $16.00 and gave the stock a “market perform” rating in a report on Friday, December 6th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $16.00 price target on shares of UiPath in a report on Friday, December 6th. Wells Fargo & Company lowered their price objective on shares of UiPath from $15.00 to $13.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 23rd. Finally, UBS Group began coverage on UiPath in a research note on Thursday, December 12th. They issued a “sell” rating and a $14.00 target price for the company. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and two have given a buy rating to the company. According to MarketBeat, UiPath has an average rating of “Hold” and an average target price of $17.44.

UiPath Trading Up 0.3 %

The company’s 50-day moving average price is $13.59 and its two-hundred day moving average price is $12.78. The company has a market cap of $7.37 billion, a P/E ratio of -83.91 and a beta of 0.96.

Insider Buying and Selling

In related news, CAO Hitesh Ramani sold 25,000 shares of the stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $13.05, for a total value of $326,250.00. Following the completion of the transaction, the chief accounting officer now owns 269,421 shares in the company, valued at $3,515,944.05. This trade represents a 8.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Ashim Gupta sold 47,227 shares of the business’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $13.06, for a total transaction of $616,784.62. Following the sale, the chief financial officer now owns 856,538 shares in the company, valued at $11,186,386.28. This represents a 5.23 % decrease in their position. The disclosure for this sale can be found here. 22.37% of the stock is currently owned by insiders.

Institutional Trading of UiPath

Hedge funds have recently made changes to their positions in the stock. Merit Financial Group LLC grew its position in UiPath by 183.0% during the fourth quarter. Merit Financial Group LLC now owns 49,105 shares of the company’s stock valued at $624,000 after purchasing an additional 31,755 shares in the last quarter. Avanza Fonder AB purchased a new position in shares of UiPath during the 4th quarter valued at $816,000. 180 Wealth Advisors LLC increased its stake in shares of UiPath by 4.0% in the fourth quarter. 180 Wealth Advisors LLC now owns 485,354 shares of the company’s stock worth $6,169,000 after acquiring an additional 18,493 shares during the last quarter. Pallas Capital Advisors LLC raised its holdings in shares of UiPath by 9.7% during the fourth quarter. Pallas Capital Advisors LLC now owns 64,109 shares of the company’s stock worth $815,000 after acquiring an additional 5,661 shares in the last quarter. Finally, Claro Advisors LLC acquired a new stake in UiPath during the fourth quarter valued at $142,000. 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.