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

UiPath Inc. (NYSE:PATH)’s stock price fell 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. 2,948,106 shares changed hands during trading, a decline of 65% from the average session volume of 8,466,615 shares. The stock had previously closed at $13.43.

Other equities analysts also recently issued reports about the stock. BMO Capital Markets boosted their target price on shares of UiPath from $15.00 to $16.00 and gave the stock a “market perform” rating in a report on Friday, December 6th. UBS Group started coverage on shares of UiPath in a report on Thursday, December 12th. They issued a “sell” rating and a $14.00 target price on the stock. Needham & Company LLC reiterated a “hold” rating on shares of UiPath in a research note on Thursday, December 19th. Morgan Stanley boosted their price target on UiPath from $15.00 to $16.00 and gave the stock an “equal weight” rating in a research report on Friday, December 6th. Finally, Wells Fargo & Company cut their price objective on UiPath from $15.00 to $13.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $17.44.

Insiders Place Their Bets

In other news, CAO Hitesh Ramani sold 25,000 shares of the stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $13.05, for a total transaction of $326,250.00. Following the sale, the chief accounting officer now directly owns 269,421 shares of the company’s stock, valued at approximately $3,515,944.05. This represents a 8.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Ashim Gupta sold 47,227 shares of the business’s stock in a transaction dated 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 directly owns 856,538 shares of the company’s stock, valued at approximately $11,186,386.28. This trade represents a 5.23 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 22.37% of the company’s stock.

Institutional Trading of UiPath

Several large investors have recently made changes to their positions in the company. Senvest Management LLC grew its position in 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 acquiring an additional 1,559,500 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of UiPath by 7.2% during the 3rd quarter. Geode Capital Management LLC now owns 7,312,068 shares of the company’s stock valued at $93,619,000 after purchasing an additional 493,502 shares during the last quarter. Pacer Advisors Inc. acquired a new position in UiPath during the 2nd quarter worth approximately $69,180,000. Jacobs Levy Equity Management Inc. lifted its stake in UiPath by 554.8% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 4,026,502 shares of the company’s stock valued at $51,539,000 after purchasing an additional 3,411,562 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in 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 buying an additional 291,171 shares in the last quarter. Institutional investors and hedge funds own 62.50% of the company’s stock.

UiPath Stock Down 3.4 %

The business’s 50 day simple moving average is $13.56 and its two-hundred day simple moving average is $12.76. The stock has a market cap of $7.13 billion, a P/E ratio of -81.06 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.