UiPath (NYSE:PATH) Shares Down 0.9%

Shares of UiPath Inc. (NYSE:PATH) fell 0.9% during mid-day trading on Tuesday . The company traded as low as $19.42 and last traded at $19.58. 986,969 shares traded hands during mid-day trading, a decline of 88% from the average session volume of 8,561,100 shares. The stock had previously closed at $19.76.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Evercore ISI upped their target price on shares of UiPath from $24.00 to $27.00 and gave the company an “in-line” rating in a research note on Thursday, March 14th. BMO Capital Markets lifted their target price on UiPath from $24.00 to $28.00 and gave the stock a “market perform” rating in a research report on Thursday, March 14th. DA Davidson boosted their price target on UiPath from $20.00 to $24.00 and gave the stock a “neutral” rating in a research note on Thursday, March 14th. Morgan Stanley raised their price objective on UiPath from $17.00 to $25.00 and gave the company an “equal weight” rating in a research note on Thursday, March 14th. Finally, Barclays upped their target price on UiPath from $23.00 to $25.00 and gave the company an “equal weight” rating in a research report on Friday, March 15th. Nine research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $27.41.

UiPath Price Performance

The stock’s fifty day moving average is $21.91 and its two-hundred day moving average is $21.65. The stock has a market capitalization of $10.97 billion, a P/E ratio of -112.88 and a beta of 1.01.

UiPath (NYSE:PATH) last posted its earnings results on Wednesday, March 13th. The healthcare company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.10. UiPath had a negative net margin of 6.87% and a negative return on equity of 3.29%. The firm had revenue of $405.25 million during the quarter, compared to analysts’ expectations of $383.32 million. Analysts expect that UiPath Inc. will post -0.04 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Ashim Gupta sold 16,000 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $22.84, for a total value of $365,440.00. Following the completion of the transaction, the chief financial officer now owns 87,505 shares in the company, valued at approximately $1,998,614.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 72,000 shares of company stock worth $1,591,360 over the last three months. 31.03% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On UiPath

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Norges Bank acquired a new stake in shares of UiPath in the 4th quarter valued at approximately $165,749,000. Vanguard Group Inc. increased its stake in UiPath by 7.6% in the third quarter. Vanguard Group Inc. now owns 37,750,773 shares of the healthcare company’s stock valued at $645,916,000 after purchasing an additional 2,673,718 shares in the last quarter. Artisan Partners Limited Partnership bought a new position in shares of UiPath during the fourth quarter worth $48,267,000. Glenmede Trust Co. NA grew its holdings in shares of UiPath by 3,273.3% in the 3rd quarter. Glenmede Trust Co. NA now owns 1,564,985 shares of the healthcare company’s stock valued at $26,777,000 after buying an additional 1,518,592 shares during the period. Finally, Vestmark Advisory Solutions Inc. bought a new stake in shares of UiPath in the 4th quarter valued at $15,543,000. 62.50% of the stock is owned by institutional investors.

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.