UiPath (NYSE:PATH) Trading Down 7.8%

Shares of UiPath Inc. (NYSE:PATH) dropped 7.8% during mid-day trading on Tuesday . The stock traded as low as $11.81 and last traded at $11.82. Approximately 10,685,405 shares changed hands during trading, an increase of 8% from the average daily volume of 9,854,744 shares. The stock had previously closed at $12.82.

Analysts Set New Price Targets

Several brokerages have commented on PATH. KeyCorp reissued a “sector weight” rating on shares of UiPath in a report on Thursday, May 30th. Canaccord Genuity Group dropped their price target on shares of UiPath from $30.00 to $19.00 and set a “buy” rating on the stock in a research note on Friday, May 31st. Morgan Stanley reduced their price objective on shares of UiPath from $25.00 to $15.00 and set an “equal weight” rating for the company in a research report on Thursday, May 30th. Evercore ISI dropped their target price on shares of UiPath from $27.00 to $13.00 and set an “in-line” rating on the stock in a research report on Thursday, May 30th. Finally, Barclays reduced their price target on shares of UiPath from $25.00 to $16.00 and set an “equal weight” rating for the company in a research report on Thursday, May 30th. Sixteen equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, UiPath has an average rating of “Hold” and an average target price of $18.06.

UiPath Price Performance

The firm has a market cap of $6.83 billion, a PE ratio of -73.88 and a beta of 0.86. The company’s 50 day moving average price is $15.40 and its 200 day moving average price is $20.22.

UiPath (NYSE:PATH) last issued its quarterly earnings results on Wednesday, May 29th. The healthcare company reported ($0.03) 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 company had revenue of $335.11 million during the quarter, compared to analysts’ expectations of $332.84 million. Sell-side analysts expect 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 on 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 directly owns 946,848 shares in the company, valued at approximately $18,738,121.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 22.37% of the company’s stock.

Institutional Investors Weigh In On UiPath

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Mark Sheptoff Financial Planning LLC acquired a new stake in shares of UiPath in the fourth quarter valued at approximately $25,000. HighMark Wealth Management LLC purchased a new position in UiPath during the 4th quarter worth $27,000. ORG Partners LLC increased its stake in UiPath by 875.6% in the first quarter. ORG Partners LLC now owns 1,239 shares of the healthcare company’s stock valued at $27,000 after purchasing an additional 1,112 shares during the period. Cypress Capital Management LLC WY purchased a new stake in shares of UiPath in the fourth quarter valued at about $29,000. Finally, GAMMA Investing LLC purchased a new stake in shares of UiPath in the fourth quarter valued at about $36,000. 62.50% of the stock is owned by hedge funds and other 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.