UiPath (NYSE:PATH) Stock Price Down 0.2% – Time to Sell?

UiPath Inc. (NYSE:PATH) was down 0.2% on Wednesday . The stock traded as low as $12.53 and last traded at $12.71. Approximately 5,003,310 shares traded hands during trading, a decline of 48% from the average daily volume of 9,586,992 shares. The stock had previously closed at $12.74.

Analysts Set New Price Targets

Several analysts have commented on the company. Evercore ISI lifted their price target on UiPath from $13.00 to $16.00 and gave the company an “in-line” rating in a report on Friday, September 6th. Bank of America boosted their target price on shares of UiPath from $16.00 to $18.00 and gave the company a “neutral” rating in a report on Friday, September 6th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $16.00 price target on shares of UiPath in a research note on Friday, December 6th. TD Cowen lowered their price objective on shares of UiPath from $17.00 to $16.00 and set a “hold” rating for the company in a research note on Friday, September 6th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of UiPath in a research report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $17.50.

UiPath Trading Up 1.7 %

The company has a market capitalization of $7.11 billion, a PE ratio of -80.81 and a beta of 0.94. The business’s 50-day simple moving average is $13.46 and its two-hundred day simple moving average is $12.69.

Hedge Funds Weigh In On UiPath

Several institutional investors and hedge funds have recently made changes to their positions in PATH. Principal Financial Group Inc. lifted its position in shares of UiPath by 10.5% during the third quarter. Principal Financial Group Inc. now owns 36,685 shares of the company’s stock worth $470,000 after purchasing an additional 3,477 shares during the last quarter. Sanctuary Advisors LLC lifted its holdings in UiPath by 236.0% during the 3rd quarter. Sanctuary Advisors LLC now owns 41,098 shares of the company’s stock worth $526,000 after buying an additional 28,865 shares during the last quarter. Geode Capital Management LLC grew its position in shares of UiPath by 7.2% in the 3rd quarter. Geode Capital Management LLC now owns 7,312,068 shares of the company’s stock worth $93,619,000 after acquiring an additional 493,502 shares in the last quarter. M&T Bank Corp increased its holdings in shares of UiPath by 60.1% in the 3rd quarter. M&T Bank Corp now owns 31,791 shares of the company’s stock valued at $407,000 after acquiring an additional 11,940 shares during the last quarter. Finally, Public Employees Retirement System of Ohio raised its position in shares of UiPath by 61.9% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 240,123 shares of the company’s stock valued at $3,074,000 after acquiring an additional 91,788 shares in the last quarter. 62.50% of the stock is currently owned by hedge funds and other 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.