UiPath (NYSE:PATH) Stock Price Down 2.4% – Time to Sell?

UiPath Inc. (NYSE:PATH)’s stock price dropped 2.4% during mid-day trading on Monday . The company traded as low as $12.99 and last traded at $13.02. Approximately 6,101,422 shares traded hands during mid-day trading, a decline of 11% from the average daily volume of 6,832,750 shares. The stock had previously closed at $13.35.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on PATH. BMO Capital Markets boosted their target price on 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 restated a “sector perform” rating and issued a $16.00 price target on shares of UiPath in a research report on Friday, December 6th. Morgan Stanley lifted their price objective on UiPath from $15.00 to $16.00 and gave the stock an “equal weight” rating in a report on Friday, December 6th. Barclays reduced their target price on UiPath from $16.00 to $15.00 and set an “equal weight” rating for the company in a research report on Friday, January 10th. Finally, JPMorgan Chase & Co. increased their price objective on shares of UiPath from $17.00 to $18.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $17.44.

UiPath Trading Down 2.4 %

The company has a market capitalization of $7.16 billion, a price-to-earnings ratio of -81.40 and a beta of 0.96. The company has a 50 day moving average price of $13.59 and a 200 day moving average price of $12.78.

Insider Activity at UiPath

In other UiPath news, CAO Hitesh Ramani sold 25,000 shares of UiPath stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $13.05, for a total value of $326,250.00. Following the sale, the chief accounting officer now owns 269,421 shares of the company’s stock, 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 is available through the SEC website. Also, CFO Ashim Gupta sold 47,227 shares of UiPath stock in a transaction 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 completion of the sale, the chief financial officer now owns 856,538 shares in the company, valued at $11,186,386.28. The trade was a 5.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 22.37% of the company’s stock.

Hedge Funds Weigh In On UiPath

A number of hedge funds have recently bought and sold shares of the business. Ontario Teachers Pension Plan Board grew its stake in shares of UiPath by 136.0% during the third quarter. Ontario Teachers Pension Plan Board now owns 108,725 shares of the company’s stock worth $1,392,000 after buying an additional 62,650 shares during the last quarter. D.A. Davidson & CO. raised its stake in shares of UiPath by 60.1% during the third quarter. D.A. Davidson & CO. now owns 557,667 shares of the company’s stock valued at $7,138,000 after acquiring an additional 209,300 shares during the last quarter. Stifel Financial Corp grew its stake in shares of UiPath by 30.1% in the third quarter. Stifel Financial Corp now owns 323,818 shares of the company’s stock worth $4,145,000 after purchasing an additional 74,959 shares during the last quarter. Senvest Management LLC raised its position in UiPath by 16.7% during the 3rd quarter. Senvest Management LLC now owns 10,894,483 shares of the company’s stock worth $139,449,000 after purchasing an additional 1,559,500 shares during the last quarter. Finally, Quantbot Technologies LP lifted its holdings in UiPath by 667.7% during the 3rd quarter. Quantbot Technologies LP now owns 101,718 shares of the company’s stock worth $1,302,000 after buying an additional 88,468 shares during the period. 62.50% of the stock is owned by institutional investors.

UiPath Company Profile

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.