UiPath (NYSE:PATH) Reaches New 1-Year Low on Analyst Downgrade

Shares of UiPath Inc. (NYSE:PATH) reached a new 52-week low during mid-day trading on Friday after Royal Bank of Canada lowered their price target on the stock from $16.00 to $13.00. Royal Bank of Canada currently has a sector perform rating on the stock. UiPath traded as low as $9.50 and last traded at $10.01, with a volume of 49454972 shares changing hands. The stock had previously closed at $11.83.

Several other brokerages have also recently issued reports on PATH. Wells Fargo & Company cut their price objective on UiPath from $13.00 to $11.00 and set an “equal weight” rating on the stock in a research note on Thursday. Barclays dropped their price target on UiPath from $15.00 to $12.00 and set an “equal weight” rating on the stock in a research report on Thursday. Scotiabank lowered their target price on UiPath from $15.00 to $12.00 and set a “sector perform” rating on the stock in a research report on Thursday. Bank of America restated an “underperform” rating and issued a $10.00 target price (down from $18.00) on shares of UiPath in a research report on Thursday. Finally, Canaccord Genuity Group decreased their price target on UiPath from $19.00 to $14.00 and set a “buy” rating for the company in a research note on Thursday. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $14.78.

Insider Transactions at UiPath

In other UiPath news, CFO Ashim Gupta sold 47,227 shares of the company’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $13.06, for a total transaction of $616,784.62. Following the transaction, the chief financial officer now owns 856,538 shares of the company’s stock, valued at approximately $11,186,386.28. This represents a 5.23 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Hitesh Ramani sold 25,000 shares of the stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $13.05, for a total value of $326,250.00. Following the completion of the transaction, the chief accounting officer now directly owns 269,421 shares in the company, valued at approximately $3,515,944.05. This trade represents a 8.49 % decrease in their position. The disclosure for this sale can be found here. 22.37% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in shares of UiPath by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 46,664,124 shares of the company’s stock valued at $593,101,000 after buying an additional 576,458 shares in the last quarter. Senvest Management LLC increased its holdings in UiPath by 29.2% during the 4th quarter. Senvest Management LLC now owns 14,074,783 shares of the company’s stock worth $178,890,000 after purchasing an additional 3,180,300 shares in the last quarter. Geode Capital Management LLC increased its holdings in UiPath by 7.2% during the 3rd quarter. Geode Capital Management LLC now owns 7,312,068 shares of the company’s stock worth $93,619,000 after purchasing an additional 493,502 shares in the last quarter. AQR Capital Management LLC increased its holdings in UiPath by 45.3% during the 4th quarter. AQR Capital Management LLC now owns 6,646,320 shares of the company’s stock worth $84,209,000 after purchasing an additional 2,072,089 shares in the last quarter. Finally, Norges Bank bought a new position in UiPath during the 4th quarter worth about $71,191,000. Institutional investors and hedge funds own 62.50% of the company’s stock.

UiPath Stock Performance

The stock has a fifty day simple moving average of $13.41 and a 200-day simple moving average of $13.16. The stock has a market cap of $5.50 billion, a P/E ratio of -62.59 and a beta of 1.00.

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.