UiPath Inc. (NYSE:PATH – Get Rating)’s share price traded down 5.7% on Monday after Evercore ISI lowered their price target on the stock to $17.00. The company traded as low as $13.50 and last traded at $13.70. 122,150 shares changed hands during mid-day trading, a decline of 98% from the average session volume of 6,725,344 shares. The stock had previously closed at $14.53.
PATH has been the topic of several other research reports. Needham & Company LLC dropped their price target on UiPath from $40.00 to $20.00 and set a “buy” rating on the stock in a research report on Wednesday, September 7th. Mizuho lifted their price objective on UiPath from $14.00 to $15.00 in a report on Friday. Oppenheimer lowered UiPath from an “outperform” rating to a “market perform” rating in a report on Thursday, November 3rd. Canaccord Genuity Group lowered their price objective on UiPath from $15.00 to $14.00 in a report on Friday, September 30th. Finally, Wells Fargo & Company lifted their price objective on UiPath from $16.00 to $18.00 and gave the company an “overweight” rating in a report on Friday. Nine research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $22.23.
Insider Buying and Selling at UiPath
In other news, CFO Ashim Gupta sold 30,000 shares of the company’s stock in a transaction dated Monday, September 12th. The shares were sold at an average price of $15.02, for a total value of $450,600.00. Following the sale, the chief financial officer now owns 1,347,266 shares in the company, valued at approximately $20,235,935.32. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CFO Ashim Gupta sold 30,000 shares of the stock in a transaction dated Monday, September 12th. The shares were sold at an average price of $15.02, for a total transaction of $450,600.00. Following the sale, the chief financial officer now owns 1,347,266 shares in the company, valued at $20,235,935.32. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Hitesh Ramani sold 2,100 shares of the firm’s stock in a transaction that occurred on Wednesday, October 26th. The shares were sold at an average price of $12.02, for a total transaction of $25,242.00. Following the completion of the sale, the chief accounting officer now owns 393,617 shares in the company, valued at approximately $4,731,276.34. The disclosure for this sale can be found here. Insiders sold a total of 72,600 shares of company stock valued at $991,824 in the last ninety days. Insiders own 31.88% of the company’s stock.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in PATH. Envestnet Asset Management Inc. boosted its holdings in UiPath by 30.1% during the first quarter. Envestnet Asset Management Inc. now owns 243,796 shares of the healthcare company’s stock worth $5,264,000 after buying an additional 56,476 shares in the last quarter. Commonwealth Equity Services LLC increased its stake in shares of UiPath by 4.3% in the first quarter. Commonwealth Equity Services LLC now owns 51,485 shares of the healthcare company’s stock worth $1,111,000 after acquiring an additional 2,100 shares during the last quarter. Stephens Inc. AR acquired a new position in UiPath during the first quarter worth $83,000. Prospera Financial Services Inc acquired a new position in UiPath during the first quarter worth $27,000. Finally, California Public Employees Retirement System acquired a new position in UiPath during the first quarter worth $4,888,000. 51.35% of the stock is currently owned by institutional investors.
UiPath Trading Down 4.9 %
The company’s 50-day simple moving average is $12.28 and its 200 day simple moving average is $16.11.
UiPath (NYSE:PATH – Get Rating) last released its quarterly earnings results on Tuesday, September 6th. The healthcare company reported ($0.18) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.06. UiPath had a negative net margin of 34.99% and a negative return on equity of 17.14%. The company had revenue of $242.22 million during the quarter, compared to analysts’ expectations of $230.68 million. During the same period in the prior year, the company earned ($0.17) earnings per share. The business’s quarterly revenue was up 23.9% compared to the same quarter last year. Equities analysts anticipate that UiPath Inc. will post -0.63 EPS for the current fiscal year.
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, and Japan. The company offers a suite of interrelated software to build, manage, run, engage, measure, and govern automation within the organization.