UiPath (NYSE:PATH) Stock Price Up 0.3% – Here’s What Happened

UiPath Inc. (NYSE:PATH)’s stock price was up 0.3% on Thursday . The company traded as high as $13.19 and last traded at $13.17. Approximately 961,588 shares were traded during trading, a decline of 90% from the average daily volume of 9,614,964 shares. The stock had previously closed at $13.13.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on PATH shares. Evercore ISI upped their price target on shares of UiPath from $13.00 to $16.00 and gave the stock an “in-line” rating in a report on Friday, September 6th. BMO Capital Markets increased their target price on shares of UiPath from $15.00 to $16.00 and gave the stock a “market perform” rating in a report on Friday, December 6th. Royal Bank of Canada reiterated a “sector perform” rating and set a $16.00 price target on shares of UiPath in a research report on Friday, December 6th. UBS Group initiated coverage on shares of UiPath in a report on Thursday, December 12th. They set a “sell” rating and a $14.00 target price on the stock. Finally, JPMorgan Chase & Co. increased their price target on shares of UiPath from $17.00 to $18.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $17.50.

UiPath Stock Performance

The firm has a market cap of $7.08 billion, a price-to-earnings ratio of -80.50 and a beta of 0.94. The firm has a 50-day moving average price of $13.44 and a two-hundred day moving average price of $12.66.

Institutional Investors Weigh In On UiPath

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Senvest Management LLC raised its stake in shares of UiPath by 16.7% during the third quarter. Senvest Management LLC now owns 10,894,483 shares of the company’s stock worth $139,449,000 after purchasing an additional 1,559,500 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of UiPath by 7.2% in the third quarter. Geode Capital Management LLC now owns 7,312,068 shares of the company’s stock valued at $93,619,000 after acquiring an additional 493,502 shares in the last quarter. Pacer Advisors Inc. purchased a new position in UiPath during the second quarter worth about $69,180,000. Jacobs Levy Equity Management Inc. boosted its holdings in UiPath by 554.8% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 4,026,502 shares of the company’s stock valued at $51,539,000 after purchasing an additional 3,411,562 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in UiPath by 11.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,890,360 shares of the company’s stock worth $36,997,000 after purchasing an additional 291,171 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.