UiPath (NYSE:PATH) Trading Up 1.2%

UiPath Inc. (NYSE:PATH) shares rose 1.2% on Friday . The stock traded as high as $13.16 and last traded at $13.12. Approximately 1,948,078 shares were traded during mid-day trading, a decline of 80% from the average daily volume of 9,817,967 shares. The stock had previously closed at $12.96.

Analyst Ratings Changes

PATH has been the subject of several research analyst reports. Macquarie downgraded shares of UiPath from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $29.00 to $12.00 in a research report on Monday, June 3rd. Canaccord Genuity Group dropped their target price on shares of UiPath from $30.00 to $19.00 and set a “buy” rating for the company in a research report on Friday, May 31st. Needham & Company LLC reissued a “hold” rating on shares of UiPath in a research report on Thursday, May 30th. Wells Fargo & Company dropped their target price on shares of UiPath from $15.00 to $14.00 and set an “equal weight” rating for the company in a research report on Friday, June 21st. Finally, JPMorgan Chase & Co. dropped their target price on shares of UiPath from $28.00 to $19.00 and set an “overweight” rating for the company in a research report on Thursday, May 30th. Sixteen research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $18.06.

UiPath Trading Up 1.8 %

The stock has a market cap of $7.55 billion, a P/E ratio of -82.00 and a beta of 0.86. The firm’s 50-day simple moving average is $15.66 and its 200 day simple moving average is $20.47.

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

Insiders Place Their Bets

In other news, CFO Ashim Gupta sold 40,000 shares of the stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $19.79, for a total value of $791,600.00. Following the completion of the transaction, the chief financial officer now directly owns 946,848 shares in the company, valued at $18,738,121.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 22.37% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Royal London Asset Management Ltd. boosted its holdings in shares of UiPath by 5.9% in the third quarter. Royal London Asset Management Ltd. now owns 139,544 shares of the healthcare company’s stock valued at $2,388,000 after acquiring an additional 7,742 shares in the last quarter. Swiss National Bank lifted its stake in UiPath by 4.9% during the fourth quarter. Swiss National Bank now owns 1,211,500 shares of the healthcare company’s stock valued at $30,094,000 after purchasing an additional 56,600 shares during the last quarter. Vestmark Advisory Solutions Inc. acquired a new stake in UiPath during the fourth quarter valued at approximately $15,543,000. O Shaughnessy Asset Management LLC acquired a new stake in UiPath during the third quarter valued at approximately $203,000. Finally, Invesco Ltd. lifted its stake in UiPath by 2.8% during the third quarter. Invesco Ltd. now owns 399,181 shares of the healthcare company’s stock valued at $6,830,000 after purchasing an additional 10,863 shares during the last quarter. 62.50% of the stock is currently owned by institutional investors.

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.