UiPath (NYSE:PATH) Shares Down 0.9% – Time to Sell?

UiPath Inc. (NYSE:PATH)’s stock price traded down 0.9% during mid-day trading on Friday . The company traded as low as $13.17 and last traded at $13.24. 1,272,519 shares were traded during trading, a decline of 84% from the average session volume of 7,900,511 shares. The stock had previously closed at $13.35.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on PATH shares. Needham & Company LLC reaffirmed a “hold” rating on shares of UiPath in a research report on Wednesday. UBS Group assumed coverage on shares of UiPath in a research report on Thursday, December 12th. They issued a “sell” rating and a $14.00 target price for the company. JPMorgan Chase & Co. raised their price target 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. Barclays cut their price objective on shares of UiPath from $16.00 to $15.00 and set an “equal weight” rating for the company in a report on Friday, January 10th. Finally, Morgan Stanley lifted their price target on shares of UiPath from $15.00 to $16.00 and gave the company an “equal weight” rating in a research report on Friday, December 6th. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $17.44.

UiPath Trading Down 2.1 %

The firm has a market capitalization of $7.18 billion, a price-to-earnings ratio of -81.72 and a beta of 0.96. The stock’s 50-day moving average is $13.59 and its 200-day moving average is $12.79.

Insider Buying and Selling at UiPath

In other news, CAO Hitesh Ramani sold 25,000 shares of the stock in a transaction dated 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 approximately $3,515,944.05. This represents a 8.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Ashim Gupta sold 47,227 shares of the firm’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $13.06, for a total value of $616,784.62. Following the transaction, the chief financial officer now owns 856,538 shares of the company’s stock, valued at $11,186,386.28. This trade represents a 5.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 22.37% of the company’s stock.

Institutional Trading of UiPath

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ontario Teachers Pension Plan Board boosted its stake in shares of UiPath by 136.0% in the 3rd quarter. Ontario Teachers Pension Plan Board now owns 108,725 shares of the company’s stock valued at $1,392,000 after purchasing an additional 62,650 shares during the last quarter. D.A. Davidson & CO. boosted its position in UiPath by 60.1% during the third quarter. D.A. Davidson & CO. now owns 557,667 shares of the company’s stock valued at $7,138,000 after acquiring an additional 209,300 shares during the last quarter. Stifel Financial Corp grew its holdings in UiPath by 30.1% during the 3rd quarter. Stifel Financial Corp now owns 323,818 shares of the company’s stock worth $4,145,000 after acquiring an additional 74,959 shares during the period. Senvest Management LLC raised its position in shares of UiPath by 16.7% in the 3rd quarter. Senvest Management LLC now owns 10,894,483 shares of the company’s stock worth $139,449,000 after acquiring an additional 1,559,500 shares in the last quarter. Finally, Quantbot Technologies LP lifted its stake in shares of UiPath by 667.7% in the 3rd quarter. Quantbot Technologies LP now owns 101,718 shares of the company’s stock valued at $1,302,000 after purchasing an additional 88,468 shares during the period. Institutional investors and hedge funds own 62.50% of the company’s stock.

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.