UiPath (NYSE:PATH) Shares Down 0.5% – What’s Next?

UiPath Inc. (NYSE:PATH) shares were down 0.5% on Friday . The company traded as low as $12.81 and last traded at $12.86. Approximately 1,571,475 shares changed hands during mid-day trading, a decline of 55% from the average daily volume of 3,511,043 shares. The stock had previously closed at $12.93.

Analysts Set New Price Targets

A number of brokerages recently commented on PATH. UBS Group began coverage on shares of UiPath in a research note on Thursday, December 12th. They set a “sell” rating and a $14.00 target price for the company. Morgan Stanley upped their price objective on UiPath from $15.00 to $16.00 and gave the stock an “equal weight” rating in a research report on Friday, December 6th. Barclays raised their target price on UiPath from $15.00 to $16.00 and gave the stock an “equal weight” rating in a research report on Friday, December 6th. Needham & Company LLC restated a “hold” rating on shares of UiPath in a research note on Thursday, December 19th. Finally, BMO Capital Markets increased their price target on shares of UiPath from $15.00 to $16.00 and gave the company a “market perform” rating in a research note on Friday, December 6th. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, UiPath presently has a consensus rating of “Hold” and a consensus price target of $17.50.

UiPath Stock Up 2.7 %

The stock has a market cap of $7.30 billion, a PE ratio of -83.00 and a beta of 0.96. The stock has a fifty day moving average of $13.48 and a 200-day moving average of $12.71.

Institutional Investors Weigh In On UiPath

Several hedge funds have recently modified their holdings of the stock. 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 buying an additional 1,559,500 shares during the last quarter. Geode Capital Management LLC raised its holdings in UiPath by 7.2% during the third quarter. Geode Capital Management LLC now owns 7,312,068 shares of the company’s stock worth $93,619,000 after purchasing an additional 493,502 shares in the last quarter. Pacer Advisors Inc. acquired a new stake in UiPath in the second quarter valued at about $69,180,000. Jacobs Levy Equity Management Inc. boosted its holdings in UiPath by 554.8% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 4,026,502 shares of the company’s stock valued at $51,539,000 after purchasing an additional 3,411,562 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in UiPath by 11.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,890,360 shares of the company’s stock worth $36,997,000 after purchasing an additional 291,171 shares during the period. 62.50% of the stock is owned by institutional investors and hedge funds.

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.