UiPath (NYSE:PATH) Shares Up 1.6%

Shares of UiPath Inc. (NYSE:PATH) shot up 1.6% on Thursday . The company traded as high as $12.42 and last traded at $12.41. 2,376,543 shares changed hands during trading, a decline of 76% from the average session volume of 9,839,053 shares. The stock had previously closed at $12.22.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Wells Fargo & Company reduced their price objective on UiPath from $15.00 to $14.00 and set an “equal weight” rating for the company in a research note on Friday, June 21st. Scotiabank reduced their price target on shares of UiPath from $30.00 to $25.00 and set a “sector perform” rating for the company in a research report on Wednesday, May 29th. Truist Financial reaffirmed a “hold” rating and set a $14.00 price objective (down from $32.00) on shares of UiPath in a research report on Thursday, May 30th. William Blair lowered shares of UiPath from an “outperform” rating to a “market perform” rating in a research note on Thursday, May 30th. Finally, KeyCorp restated a “sector weight” rating on shares of UiPath in a report on Thursday, May 30th. Sixteen equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $18.06.

UiPath Price Performance

The stock’s 50-day moving average price is $16.18 and its 200 day moving average price is $20.81.

UiPath (NYSE:PATH) last announced its earnings results on Wednesday, May 29th. The healthcare company reported ($0.03) EPS for the quarter, hitting the consensus estimate of ($0.03). The firm had revenue of $335.11 million for the quarter, compared to the consensus estimate of $332.84 million. UiPath had a negative net margin of 6.41% and a negative return on equity of 2.97%. On average, sell-side analysts forecast that UiPath Inc. will post -0.2 EPS for the current year.

Insider Buying and Selling

In other UiPath news, CFO Ashim Gupta sold 40,000 shares of UiPath stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $19.79, for a total value of $791,600.00. Following the transaction, the chief financial officer now directly owns 946,848 shares of the company’s stock, valued at approximately $18,738,121.92. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 22.37% of the stock is owned by insiders.

Institutional Trading of UiPath

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Mark Sheptoff Financial Planning LLC bought a new stake in shares of UiPath in the fourth quarter valued at about $25,000. HighMark Wealth Management LLC acquired a new stake in shares of UiPath during the 4th quarter worth approximately $27,000. ORG Partners LLC increased its position in shares of UiPath by 875.6% during the first quarter. ORG Partners LLC now owns 1,239 shares of the healthcare company’s stock valued at $27,000 after purchasing an additional 1,112 shares during the period. Cypress Capital Management LLC WY acquired a new position in shares of UiPath in the fourth quarter valued at $29,000. Finally, GAMMA Investing LLC bought a new position in UiPath in the fourth quarter worth $36,000. 62.50% of the stock is currently owned by institutional investors and hedge funds.

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.