UiPath (NYSE:PATH) Stock Price Down 3.4% After Analyst Downgrade

UiPath Inc. (NYSE:PATH) dropped 3.4% during trading on Friday 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 $12.75 and last traded at $12.98. Approximately 2,948,106 shares were traded during trading, a decline of 65% from the average daily volume of 8,466,615 shares. The stock had previously closed at $13.43.

A number of other research firms have also recently issued reports on PATH. JPMorgan Chase & Co. increased their price objective on shares of UiPath from $17.00 to $18.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. UBS Group assumed coverage on UiPath in a research note on Thursday, December 12th. They issued a “sell” rating and a $14.00 price objective for the company. Needham & Company LLC reaffirmed a “hold” rating on shares of UiPath in a research report on Thursday, December 19th. Wells Fargo & Company reduced their price target on shares of UiPath from $15.00 to $13.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 23rd. Finally, Morgan Stanley upped their price objective on shares of UiPath from $15.00 to $16.00 and gave the stock an “equal weight” rating in a report on Friday, December 6th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $17.44.

Insider Activity

In other news, CAO Hitesh Ramani sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $13.05, for a total transaction of $326,250.00. Following the completion of the sale, the chief accounting officer now owns 269,421 shares in the company, valued at $3,515,944.05. This trade represents a 8.49 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Ashim Gupta sold 47,227 shares of the company’s stock in a transaction that occurred on Friday, January 3rd. The shares were 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 in the company, valued at approximately $11,186,386.28. The trade was a 5.23 % decrease in their position. The disclosure for this sale can be found here. Insiders own 22.37% of the company’s stock.

Institutional Investors Weigh In On UiPath

Several institutional investors have recently added to or reduced their stakes in the business. Senvest Management LLC raised its position in shares of UiPath by 16.7% in the third quarter. Senvest Management LLC now owns 10,894,483 shares of the company’s stock valued at $139,449,000 after purchasing an additional 1,559,500 shares during the period. Geode Capital Management LLC lifted its position 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 worth $93,619,000 after acquiring an additional 493,502 shares in the last quarter. Pacer Advisors Inc. purchased a new stake in shares of UiPath during the second quarter worth $69,180,000. Jacobs Levy Equity Management Inc. boosted its holdings in shares of UiPath by 554.8% in the third quarter. Jacobs Levy Equity Management Inc. now owns 4,026,502 shares of the company’s stock worth $51,539,000 after acquiring an additional 3,411,562 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in shares of UiPath by 11.2% in the third 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 in the last quarter. 62.50% of the stock is owned by hedge funds and other institutional investors.

UiPath Stock Performance

The business has a 50 day moving average of $13.55 and a 200-day moving average of $12.76. The company has a market capitalization of $7.17 billion, a P/E ratio of -81.50 and a beta of 0.96.

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.