UiPath (NYSE:PATH) Stock Price Down 1.7% on Analyst Downgrade

UiPath Inc. (NYSE:PATH) shares were down 1.7% during trading on Monday after Barclays lowered their price target on the stock from $16.00 to $15.00. Barclays currently has an equal weight rating on the stock. UiPath traded as low as $12.62 and last traded at $12.75. Approximately 1,727,634 shares were traded during trading, a decline of 79% from the average daily volume of 8,342,426 shares. The stock had previously closed at $12.97.

A number of other equities analysts also recently weighed in on PATH. Needham & Company LLC reaffirmed a “hold” rating on shares of UiPath in a research note on Thursday, December 19th. Morgan Stanley upped 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. Royal Bank of Canada reiterated a “sector perform” rating and set a $16.00 price target on shares of UiPath in a report on Friday, December 6th. Wells Fargo & Company dropped their price objective on UiPath from $15.00 to $13.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. lifted their target price 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 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. According to data from MarketBeat.com, UiPath currently has an average rating of “Hold” and a consensus target price of $17.44.

Insider Buying and Selling

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

Institutional Investors Weigh In On UiPath

Institutional investors have recently added to or reduced their stakes in the stock. Senvest Management LLC lifted its position in shares of 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 period. Geode Capital Management LLC lifted its holdings in shares of UiPath by 7.2% during the third quarter. Geode Capital Management LLC now owns 7,312,068 shares of the company’s stock valued at $93,619,000 after acquiring an additional 493,502 shares during the period. Pacer Advisors Inc. acquired a new stake in shares of UiPath in the 2nd quarter valued at $69,180,000. Jacobs Levy Equity Management Inc. grew its holdings in shares of UiPath by 554.8% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 4,026,502 shares of the company’s stock worth $51,539,000 after purchasing an additional 3,411,562 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings 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 valued at $36,997,000 after purchasing an additional 291,171 shares during the last quarter. 62.50% of the stock is owned by institutional investors and hedge funds.

UiPath Trading Up 3.7 %

The stock has a market capitalization of $7.32 billion, a P/E ratio of -83.19 and a beta of 0.96. The firm’s fifty day moving average is $13.59 and its 200-day moving average is $12.78.

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.