UiPath (NYSE:PATH) Trading Up 2%

UiPath Inc. (NYSE:PATH) shares rose 2% during trading on Friday . The stock traded as high as $12.60 and last traded at $12.60. Approximately 1,960,360 shares were traded during trading, a decline of 80% from the average daily volume of 9,916,552 shares. The stock had previously closed at $12.35.

Analysts Set New Price Targets

A number of equities analysts have weighed in on PATH shares. Barclays lowered their price objective on UiPath from $25.00 to $16.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 30th. Wells Fargo & Company decreased their price target on UiPath from $15.00 to $14.00 and set an “equal weight” rating on the stock in a research note on Friday, June 21st. Scotiabank decreased their price target on UiPath from $30.00 to $25.00 and set a “sector perform” rating on the stock in a research note on Wednesday, May 29th. BMO Capital Markets decreased their price target on UiPath from $28.00 to $14.00 and set a “market perform” rating on the stock in a research note on Monday, June 3rd. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $29.00 target price on shares of UiPath in a research note on Monday, April 1st. Sixteen equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $18.06.

UiPath Stock Performance

The stock has a market capitalization of $7.26 billion, a price-to-earnings ratio of -78.75 and a beta of 0.86. The business has a 50-day moving average of $14.98 and a 200-day moving average of $20.02.

UiPath (NYSE:PATH) last posted its quarterly earnings data 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 company had revenue of $335.11 million during the quarter, compared to analysts’ expectations of $332.84 million. On average, research analysts predict that UiPath Inc. will post -0.2 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Ashim Gupta sold 40,000 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $19.79, for a total value of $791,600.00. Following the completion of the sale, the chief financial officer now directly owns 946,848 shares of the company’s stock, valued at approximately $18,738,121.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 22.37% of the company’s stock.

Hedge Funds Weigh In On UiPath

Hedge funds have recently bought and sold shares of the company. Wellington Management Group LLP increased its position in UiPath by 59.0% during the third quarter. Wellington Management Group LLP now owns 99,930 shares of the healthcare company’s stock worth $1,710,000 after buying an additional 37,062 shares in the last quarter. Vanguard Group Inc. grew its position in shares of 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 during the period. Symmetry Partners LLC purchased a new stake in shares of UiPath in the fourth quarter valued at $205,000. Green Alpha Advisors LLC purchased a new stake in shares of UiPath in the fourth quarter valued at $772,000. Finally, Renaissance Capital LLC grew its position in shares of UiPath by 28.0% in the fourth quarter. Renaissance Capital LLC now owns 243,026 shares of the healthcare company’s stock valued at $6,037,000 after purchasing an additional 53,103 shares during the period. 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.