UiPath (NYSE:PATH) Shares Up 0.9%

Shares of UiPath Inc. (NYSE:PATH) traded up 0.9% during trading on Wednesday . The company traded as high as $12.09 and last traded at $12.04. 1,389,684 shares traded hands during trading, a decline of 86% from the average session volume of 9,836,723 shares. The stock had previously closed at $11.93.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Macquarie lowered shares of UiPath from an “outperform” rating to a “neutral” rating and cut their price target for the company from $29.00 to $12.00 in a report on Monday, June 3rd. Morgan Stanley reduced their target price on UiPath from $25.00 to $15.00 and set an “equal weight” rating for the company in a report on Thursday, May 30th. JPMorgan Chase & Co. lowered their price target on UiPath from $28.00 to $19.00 and set an “overweight” rating on the stock in a report on Thursday, May 30th. DA Davidson decreased their price objective on UiPath from $24.00 to $13.00 and set a “neutral” rating for the company in a research report on Thursday, May 30th. Finally, BMO Capital Markets dropped their target price on UiPath from $28.00 to $14.00 and set a “market perform” rating on the stock in a report on Monday, June 3rd. Sixteen equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, UiPath currently has an average rating of “Hold” and a consensus target price of $18.06.

UiPath Stock Up 1.8 %

The stock’s 50-day moving average is $16.56 and its 200-day moving average is $21.01. The firm has a market cap of $6.95 billion, a P/E ratio of -75.25 and a beta of 0.85.

UiPath (NYSE:PATH) last released its earnings results on Wednesday, May 29th. The healthcare company reported ($0.03) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.03). UiPath had a negative return on equity of 2.97% and a negative net margin of 6.41%. The business had revenue of $335.11 million for the quarter, compared to the consensus estimate of $332.84 million. As a group, analysts expect that UiPath Inc. will post -0.2 EPS for the current fiscal year.

Insider Activity

In related news, CFO Ashim Gupta sold 40,000 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $19.79, for a total value of $791,600.00. Following the sale, the chief financial officer now owns 946,848 shares of the company’s stock, valued at $18,738,121.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 22.37% of the company’s stock.

Institutional Investors Weigh In On UiPath

Institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of UiPath by 5.6% in the 1st quarter. Vanguard Group Inc. now owns 40,217,936 shares of the healthcare company’s stock worth $911,741,000 after acquiring an additional 2,133,078 shares in the last quarter. Norges Bank bought a new stake in shares of UiPath during the fourth quarter worth $165,749,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of UiPath by 2.3% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,301,413 shares of the healthcare company’s stock valued at $131,687,000 after buying an additional 119,782 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in UiPath by 4.4% during 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 buying an additional 108,013 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in UiPath by 10.4% during the 3rd quarter. Northern Trust Corp now owns 2,467,710 shares of the healthcare company’s stock worth $42,223,000 after acquiring an additional 233,362 shares during the last quarter. Institutional investors and hedge funds 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.