UiPath (NYSE:PATH) Trading 1.8% Higher

UiPath Inc. (NYSE:PATH) shares traded up 1.8% during mid-day trading on Friday . The company traded as high as $11.63 and last traded at $11.57. 2,644,743 shares traded hands during trading, a decline of 73% from the average session volume of 9,750,868 shares. The stock had previously closed at $11.37.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Royal Bank of Canada reissued a “sector perform” rating and set a $29.00 target price on shares of UiPath in a research note on Monday, April 1st. Bank of America reissued a “neutral” rating and set a $16.00 target price (down from $30.00) on shares of UiPath in a research note on Thursday, May 30th. TD Cowen reaffirmed a “hold” rating and issued a $17.00 price objective (down from $28.00) on shares of UiPath in a research note on Thursday, May 30th. Scotiabank lowered their price objective on shares of UiPath from $30.00 to $25.00 and set a “sector perform” rating for the company in a research note on Wednesday, May 29th. Finally, Macquarie lowered shares of UiPath from an “outperform” rating to a “neutral” rating and lowered their price objective for the stock from $29.00 to $12.00 in a research note on Monday, June 3rd. Sixteen analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, UiPath has an average rating of “Hold” and a consensus price target of $18.06.

UiPath Price Performance

The stock has a market cap of $6.85 billion, a price-to-earnings ratio of -74.75 and a beta of 0.85. The company’s fifty day moving average price is $16.86 and its 200-day moving average price is $21.22.

UiPath (NYSE:PATH) last posted its quarterly earnings data on Wednesday, May 29th. The healthcare company reported ($0.03) earnings per share (EPS) for the quarter, meeting 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 for the quarter, compared to the consensus estimate of $332.84 million. On average, sell-side analysts forecast that UiPath Inc. will post -0.2 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Ashim Gupta sold 40,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $21.66, for a total transaction of $866,400.00. Following the sale, the chief financial officer now owns 660,762 shares of the company’s stock, valued at approximately $14,312,104.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 22.37% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in PATH. Vanguard Group Inc. lifted its holdings in UiPath by 5.6% in the 1st quarter. Vanguard Group Inc. now owns 40,217,936 shares of the healthcare company’s stock valued at $911,741,000 after purchasing an additional 2,133,078 shares in the last quarter. Norges Bank purchased a new position in UiPath in the 4th quarter valued at $165,749,000. Senvest Management LLC lifted its holdings in UiPath by 3.0% in the 3rd quarter. Senvest Management LLC now owns 6,209,655 shares of the healthcare company’s stock valued at $106,247,000 after purchasing an additional 181,722 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of UiPath by 2.3% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,301,413 shares of the healthcare company’s stock worth $131,687,000 after acquiring an additional 119,782 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of UiPath by 4.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,553,264 shares of the healthcare company’s stock worth $63,423,000 after acquiring an additional 108,013 shares during the last quarter. Hedge funds and other institutional investors own 62.50% of the company’s stock.

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.