UiPath (NYSE:PATH) Trading Down 1.3%

UiPath Inc. (NYSE:PATH) shares were down 1.3% during mid-day trading on Tuesday . The stock traded as low as $19.15 and last traded at $19.22. Approximately 1,871,356 shares were traded during mid-day trading, a decline of 79% from the average daily volume of 9,000,118 shares. The stock had previously closed at $19.48.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Royal Bank of Canada reissued a “sector perform” rating and issued a $29.00 target price on shares of UiPath in a research report on Monday, April 1st. BMO Capital Markets boosted 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. KeyCorp assumed coverage on UiPath in a research report on Monday, April 8th. They issued an “overweight” rating and a $27.00 target price for the company. Bank of America boosted their target price on UiPath from $26.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, March 14th. Finally, Barclays boosted their target price on UiPath from $23.00 to $25.00 and gave the stock an “equal weight” rating in a research report on Friday, March 15th. Nine investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $27.41.

UiPath Trading Down 1.5 %

The company has a market capitalization of $10.88 billion, a P/E ratio of -112.46 and a beta of 0.96. The stock has a 50 day moving average of $23.07 and a 200-day moving average of $21.46.

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

Insiders Place Their Bets

In other news, CFO Ashim Gupta sold 40,000 shares of the company’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $21.66, for a total transaction of $866,400.00. Following the sale, the chief financial officer now directly owns 660,762 shares of the company’s stock, valued at approximately $14,312,104.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 72,000 shares of company stock worth $1,591,360 in the last three months. 31.03% of the stock is owned by company insiders.

Institutional Trading of UiPath

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Raymond James Financial Services Advisors Inc. increased its stake in UiPath by 3.8% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 40,993 shares of the healthcare company’s stock worth $885,000 after purchasing an additional 1,506 shares during the period. MetLife Investment Management LLC bought a new stake in UiPath during the first quarter valued at about $184,000. BlackRock Inc. boosted its position in UiPath by 1.9% during the first quarter. BlackRock Inc. now owns 5,316,635 shares of the healthcare company’s stock valued at $114,786,000 after purchasing an additional 99,242 shares in the last quarter. Dimensional Fund Advisors LP bought a new stake in UiPath during the first quarter valued at about $534,000. Finally, Canada Pension Plan Investment Board bought a new stake in UiPath during the first quarter valued at about $259,000. Hedge funds and other institutional investors 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, and Japan. The company offers a suite of interrelated software to build, manage, run, engage, measure, and govern automation within the organization.